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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
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Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Personal Loan Interest Rates (March 2026)
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Instant Loan EMI Calculator
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
*Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply
What is personal loan interest rate?
Personal loans offer quick funding for diverse financial needs like medical urgencies, travel, or home improvements, without requiring any collateral. Getting the best loan offer depends on several factors but the affordability largely depends on the personal loan rate of interest. With IDFC FIRST Bank’s FIRSTmoney personal loan, you have the flexibility to borrow up to ₹15 lakhs and enjoy one of the lowest personal loan interest rates starting at just 9.99%* p.a. The 100% digital process, no documentation, and competitive rates makes it easier to borrow smartly and repay affordably through flexible repayment options.
Use our personal loan EMI calculator to estimate your monthly payments instantly and make informed decisions with clarity.
Apply easily through the IDFC FIRST Bank mobile app
Enjoy Low Personal Loan Interest Rates starting at 9.99%*
| Personal Loan Interest Rates March 2026 | ||
| Personal Loan | Min ROI (Per Annum) | |
| 9.99% | ||
At IDFC FIRST Bank, our personal loan interest rates start as low as 9.99% per annum. These are calculated on a monthly reducing basis, meaning the interest is applied to the remaining principal amount at the end of each month. As you repay the principal, the interest component gradually decreases, which can result in significant savings, especially for longer-term loans. This makes it a great option for borrowers seeking the lowest interest rate personal loans.Check your personal loan eligibility
We regularly update our rates to ensure you’re getting the best offer based on current market conditions. Check out our personal loan offerings for a loan with low interest that aligns with your financial goals.
Why Choose IDFC FIRST Bank for Your Personal Loan?
1. Low interest rates starting at 9.99% p.a.
2. Zero foreclosure charges – repay early at no extra cost
3. Instant disbursal within 10 minutes
4. Flexible tenures from 9 to 60 months
5. 100% digital application – no branch visits, no paperwork
Factors Affecting Personal Loan Interest Rates
Credit score
Your credit score is one of the most significant indicators of your creditworthiness. A higher score, typically 710 and above, reflects strong repayment behaviour and may qualify you for more favourable interest rates.
Income and employment stability
Lenders evaluate your monthly income and the stability of your employment to gauge your repayment capacity. Individuals with a consistent income and longer job tenure in reputed organisations are often offered better rates.
Existing financial obligations
A lower debt-to-income ratio indicates sound financial management. If you have fewer existing EMIs or liabilities, you are more likely to get offered a competitive interest rate.
Loan amount and tenure
The amount you wish to borrow and the duration of the loan also influence the rate. Typically, shorter tenures and lower loan amounts may attract slightly lower rates, depending on your overall profile.
Relationship with the bank
If you have an existing relationship with the lender—through savings accounts, credit cards, or previous loans—you may benefit from preferential rates as part of customer loyalty programs or internal assessments.
Nature of employment
Salaried professionals working with government bodies, PSUs, or large corporates are often considered low-risk applicants, while self-employed individuals may be evaluated with different parameters, possibly impacting the offered rate.
Personal Loan Fees & Charges
Here is the list of charges and fees on IDFC FIRST Bank personal loans.
| Type of Charge | Fee/Charge |
| Processing fee | Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts) |
| Rate of interest | Starting from 9.99% |
| Stamping charges | As per State’s Stamp Act |
| Penalty on overdue EMIs | Up to 2% of unpaid EMI |
| EMI bounce charges | EMI Bounce Charges 7.5% of the EMI/ Outstanding amount (minimum ₹ 400 & maximum ₹ 1000) |
| Payment swap charges | NIL |
| Foreclosure charges | NIL (Foreclosure requires a sanction letter) |
| Part Pre-Payment | Not allowed |
| EMI Pickup/Collection charges | ₹500 |
| Duplicate No Objection Certificate | ₹500 |
| Physical Statement of Account | ₹500 |
| Document retrieval charges | ₹500 |
| Cooling-off period | 3 days (Loan can be cancelled without penalty within 3 days) |
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.
Click here for more details on personal loan fees and charges
Need funds quickly? Explore Instant Cash Loan options
Low interest personal loan
Get competitive rates starting at 9.99% p.a., one of the lowest interest rate options available.
Flexible repayment options
With our monthly reducing interest rate, you can manage your loan more effectively, paying less interest over time.
No prepayment penalties
With ZERO foreclosure charges, you can repay your loan early without any additional fees, perfect for borrowers looking for flexibility.
Avail more loans on-demand
FIRSTmoney offers the flexibility to obtain more funds on the go, without starting the application process from scratch.
FAQs for Interest Rates on Personal Loan
What is the difference between part payment, pre-payment, and pre-closure?
- Part payment: This refers to the repayment of a portion of the loan amount before the due date. It reduces the outstanding principal, thereby decreasing future interest obligations. However, it does not fully settle the loan.
- Pre-payment: This is the repayment of the entire remaining loan amount in one go before the loan tenure ends. It completely settles the loan, saving on future interest payments. Pre-payment can attract certain charges depending on the bank’s policies.
- Pre-closure: With Firstmoney's ZERO foreclosure feature, you can pre-close your loan without any additional charges, offering you the flexibility and freedom to manage your finances without the worry of extra costs. This feature is particularly beneficial for those who may come into funds and wish to clear their debt without being penalized for it. It's a smart financial move that aligns with the modern borrower's need for flexibility and control over their financial commitments.
How can I qualify for a low interest personal loan?
To qualify for a low interest personal loan, you need a strong credit history (CIBIL score of 710+). Additionally, your income level, employment status, and repayment capacity also impact the interest rate. IDFC FIRST Bank offers loans at low interest rates for eligible borrowers.
Choose your personal loan amount with FIRSTmoney
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