(IDFC Bank and Capital First have merged, effective 18 December 2019. The merged financial institution is called IDFC FIRST Bank.)Capital First also offers personal loans at attractive terms and conditions. With interest rates starting from just 12%, Capital First offers loans up to Rs.15 lakh to customers across the country. The repayment tenure of the loan is flexible, ranging from 1 year to 5 years, and the processing fee applicable to the loan is just up to 1.5% of the amount you borrow. The loan also requires no guarantor, thereby making it easier for you to borrow with ease.
|Interest Rate (Monthly reducing balance)||12% to 18%|
|Processing Fees||Up to 1.5% of the loan amount|
|Loan Tenure||1 year to 5 years|
|Pre-closure charges||Charges on pre-closure-Preclosure permitted after 6 months. 5% of principal outstanding (plus applicable tax)|
|Guarantor Requirement||No guarantor required|
A personal loan from Capital First can help you on your path to financial freedom, providing you with finances for a wide variety of repayment options and tenures. The institution will ensure that you receive the maximum loan possible, taking into consideration your CIBIL score, documentation, requirement and repayment history.
15% to 20% for salaried applicants and 22% for self-employed applicants, on a monthly reducing balance model.
2% processing fee + tax
1 year to 5 years.
5% on POS (Principal Outstanding) after clearing 6 EMIs.
Most of the eligibility depends on your ability to repay your loan, which is largely dependent on your CIBIL score and credit rating.
For example, a person living in Bangalore earning Rs.50,000 per month will be eligible for a different loan amount and interest rate than a person living in Mumbai earning the same salary.
Banks and NBFCs look at your CIBIL score as an indicator as to whether you will pay your loan back, based on your performance with past loans and credit card payments.
You can improve your CIBIL score and consequently your eligibility by:
We have consolidated and efficiently categorized information for you to be able to consider all available options before making a decision.
Bankbazaar has an easy-to-use EMI calculator tool that arrives at your monthly EMI amount payable through the input of your chosen loan amount, loan tenure, processing fees (if any) and the rate of interest. Planning your future finances is super-easy with this tool which will literally tell you how much you owe the lender each month, before you even take a loan.
The personal loan amount granted for Capital First personal loan can be utilised for any personal expenditure that is legal. The loan is usually utilised to fund expenses incurred from wedding, medical emergency, home renovation, education and much more.
The individual can get a sanction approval for the loan without mortgaging their property.
The interest for the loan is calculated on a monthly basis for Capital First Personal Loan.
The bank does offer foreclosure options for the loan.
The applicant needs to be at least 21 years of age to be eligible for the loan.
The personal loan can be availed by any customer who have already taken a Consumer Durable loan or two-wheeler loan from the bank.
Listed below are the documents required to apply for the personal loan.
There are three ways through which one can apply for the Capital First personal loan.
The best benefit offered by the personal loan is that the loan provides insurance options at a lower premium.
To track Capital First personal loan status, you can call on 1800 103 2791.
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