Download AppGet the app — instant
card and loan offers!
Paisabazaar Logo - Compare loans and credit cards

IDFC First Personal Loan Preclosure Charges Loan

When you need money for urgent personal or business requirement, personal loan from IDFC First bank is an option to depend on. With effect from December 2018, IDFC Bank has merged with First Capital to form IDFC First Bank. The combined strength of the business entities has been integrated to provide one-stop solution for unsecured loans with umpteen facilities and advantageous benefits.
iconicon
Get Cashback of ₹1,000* on Loan Disbursal
Valid till 31st March '26*T&C Apply
Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

4.5/5

15.5L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
Icon image of Wide Choice

Wide Choice

Curated offers from 30+ lenders

Icon image of Quick Disbursal

Quick Disbursal

Money in your account instantly

Icon image of SmartMatch

SmartMatch

Offers ranked according to eligibility

Icon image of Digital Process

Digital Process

Hassle-free & paperless

Find Best Personal Loan Offers

Sort by:

HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
image of Compare & Choose the <strong>Best Offer</strong>

Compare & Choose the Best Offer

image of Pre-approved Offers with <strong>Instant Disbursals</strong>

Pre-approved Offers with Instant Disbursals

image of Know Your <strong>Chances of Approval</strong>

Know Your Chances of Approval

image of End-to-End <strong>Digital Process</strong>

End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Personal Loan Charges

Attractive interest rates, no upfront money for loan processing fee, 12 to 60 months loan tenure period, opportunity to foreclose (chargeable), option for loan insurance and maximum funding for senior employees of organizations (featured bank’s list and based on financial strength and net credit worth of the applicant) are the highlights of loan schemes offered by IDFC First bank.

Interest charged by IDFC First bank on personal loans (lending limit Rs 1 lakh to Rs. 40 lakh) starts from 10.49%. The interest amount is a monthly reducing balance (the outstanding loan amount gets diminished with each EMI payment). The rate charged remains fixed for the entire tenure of the loan.

Personal Loan Foreclosure Charges

Foreclosure or preclosure refers to full payment of the loan amount much before the tenure ends. The tenure for personal loans is from 12 to 60 months.

Preclosure of the existing personal loan account is allowed by IDFC First Bank after the payment of 24 EMIs. The customer is charged a certain percentage of money in addition to the current principal loan balance. Foreclosure is chargeable and there is no facility for part payment.  All taxes levied are in accordance with government rules and regulations.

Personal Foreclosure charges Of IDFC First

Foreclosure has a charge rate of 5% (plus taxes) on the principal outstanding amount. The facility of foreclosure allows borrowers to save interest money on EMIs. It also gives an edge to CIBIL score of the customer, earning him easier approval for personal loans in future.

Different options to foreclose Personal Loan from IDFC First Bank

The two best options to foreclose an existing personal loan with IDFC First bank is to opt for Balance Transfer to some other bank or opt for Top Up loan from current bank.

With Balance Transfer the borrowers can shift to a new bank with lower rate for EMI. Most banks offer minimal interest rates for balance transfer account.

In case of top up loan, the current bank forecloses the existing account. In the new top up account (availed at the same interest rate) the borrower is disbursed with the existing loan amount along with the extra amount borrowed. A new consolidated, discounted EMI structure is generated after tallying the foreclosed and the new account.

Avail Personal Loan for
All Your Needs

Conclusion

IDFC First Bank gives you multiple choices – General (multipurpose) loan and Consumer Durable Loan. The first addresses urgent financial needs and the second is for paying for purchases of consumer durable products like television, air-conditioner, refrigerator etc.

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Avail Personal Loan for
All Your Needs

quotes icon

What our customers say

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

icon image of avatar
Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

icon image of avatar
Kokil BarnwalFeb 12, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

icon image of avatar
Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

icon image of avatar
Anuradha GuptaJan 21, 2026

Best Advisor for Personal Loan

I would like to share my feedback regarding my recent interaction with Mr. Vipin Singh (employee id EW12967) After discussing the financial matters with him, I felt very satisfied with his approach and professionalism. He explained everything clearly, handled the discussion patiently, and ensured that all concerns were addressed effectively. His communication skills, positive attitude, and dedication towards his responsibilities truly reflect his commitment to the organization.

icon image of avatar
20th Jan 2026Jan 20, 2026

Meri shaddi thi

Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.

icon image of avatar
Sadia KhatunJan 15, 2026

Perfect for Loan Solutions

Recently I had a conversation with Mr. Harsh ji. Thanks Mr. Harsh ji for providing a better solution in a very short period of time with very nice behaviour. Thank You very much.

icon image of avatar
Amit ChahalJan 15, 2026

Travel ke liye personal loan liya tha

Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha

icon image of avatar
Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

icon image of avatar
Ruchika TiwariJan 14, 2026

Stress-free Laon Borrowing Process

There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.

icon image of avatar
Abhishek ThakuraJan 14, 2026
View All Testimonials
Vandana Punj profile
Written ByLinkedIn icon
Vandana Punj
Shamik Ghosh profile
Reviewed ByLinkedIn icon
Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers

Knapsack with coins

Check Best Personal Loan Offers
with Quick Disbursal

Scroll to top