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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
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- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
- Accounts for Trusts/Associations/Societies/Clubs
- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Streamline your export process with digital convenience with IDFC FIRST Bank's Export Solutions
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Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
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Personal Loan Interest Rate
IDFC FIRST Bank is a customer-first organization. Your needs take priority, with products geared towards helping you improve your life. Our personal loans are designed to support you at every stage of your life, whether it’s tackling an emergency, renovating your home, or accomplishing your dreams.Read More
We offer paperless loans at the best interest rates. Our loan interest rates are attractive, flexible, and among the most affordable in the market. A personal loan with low interest rate brings down your overall loan cost and helps manage your finances better. With a strong profile, you can get the best personal loan interest rates at IDFC FIRST Bank. Apply today!Read Less
Personal Loan Fixed ROI (Monthly reducing basis)
Fixed ROI (Monthly Reducing basis)
The interest rates at IDFC FIRST Bank are regularly updated depending on the market conditions. Refer the table below to know our current personal loan rates.
| Product type | ROI%(Fixed ROI- Monthly Reducing) |
|---|---|
| Personal loan | ROI Starting from 9.99%* |
*T&C Apply
Refer the table below to know applicable charges on personal loans.
| Charges Description | Fees / Charges |
|---|---|
| Processing fees | Upto 3.5% of Loan Amount |
| Late payment/Penal charges/ /Overdue (per month) | Upto 2% of the unpaid EMI or Upto INR 300 whichever is higher |
| Stamp Duty | As per actuals |
| EMI bounce charges per presentation | 7.5% of EMI outstanding, subject to minimum charge of INR 400 & maximum of INR 1000 (excluding GST) |
| EMI Pickup/Collection Charge | INR 500/- excluding GST |
| Duplicate NOC | Upto INR 500/- per instance |
| Physical Statement of Account/Repayment Schedule | Upto INR 500/- per statement |
| Foreclosure | Upto 5% of Principal loan outstanding after payment of 9 or more EMIs or 9 Months, whichever is later. |
| Document retrieval charges (per retrieval) | Upto INR 500/- per instance |
| Part Payment Charges (only for Smart PL) | Part payment is allowed after 3 EMIs. Maximum of 40% of the current Principal outstanding is allowed in a financial year, either in one or up to 3 instalments. 5% charge applies on partial payment. Payment must be made from the customer's own fund. |
| Loan Cancellation | Loan can be cancelled within first 15 days from disbursal date at no charges. Post 15 days of freelook period – Loan is locked for 9 months , after which foreclosure norms/charges will apply. |
| Swap charges | Nil |
| Technical bounce charges* | Charge rates would be same as applicable under EMI bounce charges |
*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).
GST, as applicable, will be levied on all service charges. The pre-payment/foreclosure/part payment of the loan has to be done using customer’s own funds. The Services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer. In case customer is related person to IDFC FIRST Bank, GST, as may be applicable, needs to be paid by customer. The above Schedule of Charges is subject to be revised from time to time by the Bank, as will be updated on the official website of the Bank.
Calculate your Personal Loan Interest Rate
IDFC FIRST Bank has an online EMI calculator that you can use to check your monthly EMI. The EMI calculator has three parts: loan amount, tenure, and rate of interest. You can use it by entering the personal loan amount you need, the applicable interest rate, and the tenure for which you want the loan. Once you enter these details, the EMI calculator will give you the EMI. Check it our personal loan EMI calculator.
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FREQUENTLY ASKED QUESTIONS
What is the lowest Fixed Rate of interest personal loan available today?
The bank loan Fixed Rate of interest depend on multiple factors. Therefore, it is impossible to say the lowest Fixed Rate of interest personal loan in today’s market. However, our Fixed Rate of interest are among the lowest you can find in India.
What are the factors that affect personal loan Fixed Rate of interest?
Credit score, net salary and risk profile of the customer are a few factors that affect personal loan Fixed Rate of interest.
What is the minimum salary required for a personal loan?
The salary and the documents required for a loan vary from bank to bank. However, with a salary above ₹20,000, you can apply for personal loans .
How is the personal loan interest rate calculated?
The interest rates on personal loan depend on several factors, including loan amount, credit score, net salary and risk profile of the customer.
How to apply for a personal loan at IDFC FIRST Bank?
Apply here for a personal loan. If you face any issues, feel free to call our customer care center
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