Personal Loan Fees & Charges

Personal Loan Fees and Charges IDFC First Bank

Personal loans offer a quick solution for meeting urgent financial needs. However, before securing a personal loan, it's crucial to understand the personal loan fees and charges involved. These fees can vary between lenders and may significantly affect the overall cost of the loan.

With IDFC FIRST Bank’s FIRSTmoney, you can enjoy a transparent loan process with minimal personal loan fees. The FIRSTmoney smart personal loan requires a healthy CIBIL score of 710 or above andcomes with unique benefits, including ZERO foreclosure fees, flexible repayment options, and competitive interest rates. This makes it an ideal choice to cover dynamic expenses such as medical bills, travel, or home renovation. Plus, the entire loan application process is 100% digital, making it quick and convenient.

List of Personal Loan Fees and Charges

Here is a comprehensive list of personal loan charges for IDFC FIRST Bank's FIRSTmoney:

GST is applicable on all service charges.

It's essential to review these personal loan fees and charges before applying, as they can be subject to revisions by the bank.

*Mandate Rejection technical Bounce Charges (for mandate rejected by your bank, to be charged for each month from 3rd consecutive bounce month onwards until the mandate is registered).

Important Terms and Conditions

1. Loan Disbursal Timeline

Loan disbursal within 30 minutes is subject to successful completion of customer verification, credit assessment, and internal bank approvals. Actual disbursal time may vary based on customer profile, documentation completeness, system load, and banking hours.

Actual time may vary due to external dependencies or unforeseen circumstances.

2. Interest Rate Applicability

Interest rates starting at 9.99% p.a. are indicative and subject to change based on the applicant’s credit profile, income, loan amount, tenure, and lending policies. The final rate may differ from the advertised rate and is determined after thorough evaluation.

Rates and terms are subject to change without notice.

3. Digital Journey Eligibility

100% digital loan processing is offered subject to availability of online verification services and successful completion of digital KYC. Terms and conditions apply.

4. Minimum EMI per lakh applicability

₹2,124/Lakh EMI is indicative. Your actual EMI, interest rate (starting at 9.99% p.a.), loan amount (up to ₹10 Lakhs) and tenure (up to 60 months), and approval depend on credit assessment, eligibility, and bank policies. Please note that processing fees and other charges may be applicable in addition to the interest rate. Final loan approval and disbursement are subject to the bank's policies and fulfilment of all eligibility criteria. Prospective borrowers are advised to review the detailed KFS provided by IDFC FIRST Bank for complete information.