The way of getting an personal loan without collateral Is easy if you know the right lender. There are banks, NBFC and apps offering it. However as said choosing the correct one is winning the half game. This is where IDFC First Bank personal loan could help you out. Currently it is one of the best personal loan in India.
It offers a great amount, does not require collateral and have competitive interest rate. We will look at the details, than you could choose to take a personal loan or not.
IDFC First Bank Personal Loan
IDFC First Bank personal loan is available with minimal documentation, high loan amount and affordable interest rate.
Prominent features
- IDFC first personal loan rate of interest begins at 11.5% P.A
- The processing fee is up to 3.5% of the loan amount.
- The loan tenure is from 12 months to 5 years.
- The loan amount is offered up to Rs 25 lakhs.
- The overdue interest is the 2% of the unpaid EMI or Rs 300. Whichever is higher.
- The foreclosure charge is 5% of the principal loan outstanding.
- The loan cancellation charge is 1% of the loan amount.
- The EMI bounce charge is up to Rs 400.
IDFC First Bank Personal Loan EMI Calculator
Before you apply for a loan, it is essential to know what will be the EMI when you begin repayment. This is why first you should check out the IDFC first bank personal loan EMI calculator. The calculator is available on the official IDFC first personal loan website.
You will have to enter thee things to get the EMI.
- Loan amount
- Rate of interest ( In percentage)
- The loan tenure
IDFC First Bank Personal Loan Eligibility Criteria
IDFC first bank personal loan eligibility criteria is based on few simple parameters to make sure a majority of the borrower qualify for the loan.
- For self- employed individuals
- The borrower age should be between 28 year to 68 years.
- The business must be up and running for minimum 3 years.
- The company profit should be positive
- For Salaried Individuals
- The borrower’s age should be between 23 years to 58 years.
- The minimum salary should be Rs 20,000 per month.
Here is a great way to check the eligibility criteria. There is tool called IDFC First Bank personal loan eligibility calculator. You can use it find out whether you will be qualified or not. It is available on Afinoz.com.
Document Required for IDFC First Bank Personal Loan
- Identity proof ( Passport, PAN card, Aadhar Card, Voter ID Card)
- Address proof ( Ration card, Passport, driving license)
- Income proof ( Bank statement and salary slip for the last 6 months)
- ITR for the last 2 year
- Balance sheet for the last 2 year
- Bank statement for the last 6 months
How to apply for IDFC First bank personal loan at Afinoz?
- First, download the Afinoz app from the Google play store.
- Choose the loan type you want.
- Select whether you are a self employed or salaried individual.
- Enter your personal and professional details.
- Choose the lender( IDFC first bank), the loan amount and upload the required documents.
- Once the loan is approved, the loan amount is disbursed within 4 to 48 hours.
IDFC First Bank Personal Loan Customer Care
If you want to contact the IDFC first customer care, you can call on number 1800-500-900 for a personal loan query. You could also Email them on customercare@idfcfirstbank.com
Conclusion
IDFC First Bank personal loan offers a great deal on it’s quick loan. It has high loan amount with competitive rate and low charges. The road to take a quick cash loan becomes easy with this lender.
