IDFC Bank Personal Loan

Here are a few factors

Product Rating

( 4.6 /5 )

Total - 296 ratings

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Location PAN INDIA
CIBIL Score 700+
Minimum Salary Per Month 20000/-Per Month ( Only Listed Company)
Salary Mode NEFT,RTGS &COMPANY TRANSFER
Applicant Age 23 Year to 60 Year
Loan Amount & Tenure 1 Lac to 40 Lac
(12 Month to 60 Month)
Rate of Interest (Type) 10.49% to 22% (Reducing)
Processing Fees 1% - 4%
Processing Mode & TAT Processing: Online
TAT: 1 Day to 3 Days
Foreclosure Charges Lockin Period 12 Month after that 5%
Part Payment Allowed No
OD Product No
BT+TopUp yes
Minimum Job Experience 3 month with Same Employer
Current Employer Business Vintage 2 year
FOIR 70% of net Salary
Whether Co-Applicant Mandatory No
USP Funding to all Employee whether Proprietorship Firm/Partnership Firm/LLP/Company.
Proprietorship only when PF is deducted
Negative Profile 1. NRI Employee
2. Applicant receiving Salary in Cash/UPI/IMPS
3. NGO Employee
4. Minus 1 CIBIL Applicant
5. Defence Employee
6. Police

IDFC Bank Personal Loan EMI Calculator

Interest Type

Loan Amount

Interest Rate

%

Loan Tenure

Mo
Loan Amount100,000
Interest %10 %
Tenure (months)12
Emi (monthly)8,792
Total Interest5,499
Loan Amount + Interest105,499
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
24,0762,30026,37675,92424.08 %
Oct7,9598338,79292,0417.96 %
Nov8,0257678,79284,01615.98 %
Dec8,0927008,79275,92424.08 %
75,9293,19979,1280100.01 %
Jan8,1596338,79267,76532.23 %
Feb8,2275658,79259,53840.46 %
Mar8,2964968,79251,24248.76 %
Apr8,3654278,79242,87757.12 %
May8,4353578,79234,44265.56 %
Jun8,5052878,79225,93774.06 %
Jul8,5762168,79217,36182.64 %
Aug8,6471458,7928,71491.29 %
Sep8,719738,7920100.01 %
Right Document : Easy Process

Required Documents to Apply for IDFC Bank Personal Loan

  • KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
  • Last 3 month Salary Slip
  • Last 6 month Bank Statement in PDF
  • Form 16 of last 2 year
  • Rent Agreement if rented or Utility Bill if residence is owned
  • Sanction Letter of all current running loan if any
  • Office ID Card or Official EMAIL ID if any

About IDFC Bank Personal Loan

IDFC Bank helps you realize your dreams. Whether it's a wedding or a vacation or renovating your home they can help you meet all of your diverse needs with an unsecured personal loan. They have made the process extremely easy too—with a paperless application and hassle-free approval process. So if you want to apply for a personal loan from IDFC Bank, here are a few things that you should be informed about:

Customer Care Details

You can reach out to IDFC Bank, if you have any queries or require assistance.

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.

Let us take an example, How EMI is being calculated

For instance, if "Shubham" applies for a Personal loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee upto 2-3% of loan amount may apply. T&C apply.
Year Principal
(A)
Interest
(B)
Total Payment
(A + B)
Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%
Leave Your Question

FREQUENTLY ASKED QUESTIONS

An IDFC personal loan is an unsecured loan that you can get from an IDFC bank to help you meet your financial obligations. You can apply for the application through online mode too.

Both salaried and self-employed individuals are eligible to apply for this loan. IDFC Personal Loan eligibility is sourced online. Eligibility parameters are pre-set through IDFC FIRST Bank's website and mobile app. Your loan eligibility will also be based on your credit score, income, and your existing liabilities, which will be used to ascertain your creditworthiness.

No, you won't need to visit any branch. You can easily apply for the loan through IDFC's official website or the IDFC Bank Mobile app banking.

No, you won’t need to provide any security or guarantor for availing of the IDFC Bank Personal Loan.

If you wish to apply for a personal loan with IDFC Bank, you can just make it possible from ReferLoan’s website. You just need to visit our website and select the IDFC Bank personal loan from the drop-down menu. Fill in your mobile number and generate OTP to move ahead with the application.

The minimum ROI of IDFC Bank Personal Loan is 10.49% per annum

The minimum ROI of IDFC Bank Personal Loan is 22% per annum

The highest loan amount you can avail with IDFC Bank Personal Loan is Rs. 40 Lacs

The minimum loan amount you can avail of with IDFC Bank Personal Loan is Rs. 1 Lac. 


The processing fee for IDFC Bank’s Personal loan is between 3.5% of your loan amount. 

The minimum repayment tenure of IDFC Bank's Personal Loan is 12 months.

The maximum repayment tenure of IDFC Bank's Personal loan is 60 months.


Yes, you can apply for an IDFC Bank Personal Loan anywhere from India as it holds a PAN India access

The minimum required salary to apply for an IDFC Bank Personal Loan is Rs. 20,000 Monthly. 

To apply for IDFC Bank Personal Loan your Minimum CIBIL score must be 700

No, to apply for  IDFC Bank Personal Loan your Minimum CIBIL score must be 700

Yes, to apply for IDFC Bank Personal Loan your Minimum CIBIL score must be  700 only. 

You can go to the official website of IDFC Bank or you can also switch to ReferLoan for an easy and smooth loan application process. 

No, IDFC Bank does not accept minus CIBIL scores for Personal loans.

The minimum required age to apply for IDFC Bank Personal Loan is 23

The maximum required age to apply for IDFC Bank Personal Loan is 60

Yes, IDFC Bank does offer funding to the Proprietorship Firm Employees, but only if PF is deducted from the applicant’s salary. 

Yes, IDFC Bank does offer funding to the Partnership Firm Employees too

If you are planning to apply for an IDFC Bank Personal Loan, your minimum employment period must be 3 months.

The minimum vintage of the applicant’s employer must be 2 years to apply for IDFC Bank Personal Loan

No, it is not mandatory to provide a Co-applicant to apply for IDFC Bank Personal Loan

No, IDFC Bank doesn’t fund NRIs for Personal Loans.

No, partial payments are not allowed in IDFC Personal loan

Yes, foreclosures are allowed for IDFC Bank Personal Loans, but only after EMIs are paid for 12 months. 

The foreclosure interest on IDFC Bank's Personal loan is 5%+GST after 12 EMIs.

No, police officers are not eligible to apply for IDFC Bank Personal Loan. 

No, army officers are not eligible to apply for IDFC Bank Personal Loan due to their risky job profile. 

No,  MCD employees are not eligible to apply for the IDFC Bank Personal Loan

Yes, You can apply for IDFC Bank Personal Loan if you receive your salary through NEFT

Yes, You can apply for IDFC Bank Personal Loan if you receive your salary through RTGS

Yes, You can apply for IDFC Bank Personal Loan if you receive your salary through Company Transfer. 

No, you can’t apply for an IDFC Bank Personal Loan if you are receiving our salary in cash.

No, you can’t apply for an IDFC Bank Personal Loan if you are receiving our salary through UPI. 

 IDFC Bank takes 3 days for the disbursement of a personal loan

IDFC Bank takes 1 Hour for the confirmation of a personal loan

 Yes, you can apply for IDFC Bank Personal Loan online 

The customer care number of IDFC Bank is 180010888.

The FOIR of IDFC Bank Personal Loan is 70%