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    Capital First Personal Loan

    (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. 
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    Capital First Personal Loan is Rated as "Great!" by 610 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Established in 2012 by Mr. V. Vaidyanathan, Capital First is a leading financial service provider in India with a credit rating of AA+. The company was established with the aim of financing India’s 50 million MSMEs and its evolving middle class. With the course of time, Capital First has established a solid brand name by starting new businesses and acquiring new share shareholders.

    Capital First Personal Loan Interest RatesUpdated on 16 Jul 2019

    Capital First Personal Loan Details
    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

    Capital First Personal Loan

    Capital First primarily provides debt financing to MSMEs and consumers in India. Capital First has come up with a new model of financing for MSMEs with the help of cutting-edge technology and analytics. Currently, the company provides the following products - Personal Loan, Two Wheeler Loan, Loan against Property, Pre-owned Car Loan, Business Loan, Durable Loan, Insurance and Easy Buy Card. Financing offered by Capital First can be used for accomplishing a lot of personal tasks such as expanding business, buying furniture and office automation such as computer and printers etc. So far, the company has financed more than 2.25 million customers that include both self-employed individuals and MSMEs. So far, the company has created loan assets of Rs. 160.41 billion. It has a huge network, and provides providing financing to nearly 222 locations across the country.

    Capital First personal loans are amongst the highest rated in the market at present because of their excellent customer service and rates.

    Features of Capital First Personal Loans

    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.

    • Interest rate – Your interest rate determines how much more you’ll be paying back to the loan provider than what you’ve borrowed. Hence, a competitively low interest rate is what you should look for when taking a personal loan. Fortunately, Capital First offers loans at competitive interest rates of 15% to 20% for salaried applicants and 22% for self-employed applicants, on a monthly reducing balance model.
    • Processing fees – is a charge levied by the loan provider to meet the costs of processing and approving your personal loan. Capital First charges a 2% processing fee + tax for this purpose.
    • Loan tenure – is an important factor when deciding to take a personal loan. It determines how long you will be paying monthly instalments to clear off your loan. Longer tenures generally come with marginally higher interest rates while smaller tenures have marginally lower interest rates. Capital First offers loans for tenures ranging from 1 year to 5 years.
    • Pre-closure charges – are those that are levied by the loan provider in addition to your existing payable balance, if you wish to close your loan early. Charges on pre-closure are 5% on POS (Principal Outstanding) after clearing 6 EMIs.
    • Guarantor requirement – Most loan providers, for most types of loans, require you to present a guarantor – or a person who backs your ability to repay the loan. Capital First does not require a guarantor and this saves you a lot of time and effort in securing your loan.

    Other features and benefits include:

    • Minimal documentation.
    • Approval without any mortgage.
    • Fast processing.
    • Foreclosure options available.

    Why choose a Capital First personal loan?

    With Capital First, you receive a strong infusion of funds as per your requirement (if you’re eligible) at competitive rates of interest and easy payment options. There is a minimal pre-closure fee and the loan does not even require a guarantor. More and more people are choosing Capital First as their preferred personal loan provider for these reasons and because they charge a very low processing fee in addition to providing you with world-class financial services. You can take this loan to cover medical emergencies, home renovation expenses, marriage, higher education costs, business capital requirements, purchasing assets, purchasing vehicles, and you can even choose not to disclose how you wish to use your loan.

    Do you fit the eligibility criteria?

    Eligibility for personal loans is differs between banks (and NBFCs) and people. Different people in different situations living in different cities can have different loan amounts approved at different interest rates. Most of it 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. It also is dependent upon how you repaid your previous loans, if any, and how meticulously you’ve followed up on our credit card payments.

    • Minimum age - You must be at least 23 years old if you’re a salaried employee, or at least 28 years old if you’re self-employed.
    • Maximum age – is 58 years for salaried employees, or 65 (age + tenure) for self-employed people.
    • Minimum income required – for salaried employees is Rs.20,000 per month, and Rs.1,00,000 per annum for self-employed persons.
    • Maximum loan amount – that’s allowed for salaried employees is Rs.10,00,000 and Rs.15,00,000 for self-employed people.
    • CIBIL Score – most banks and NBFCs require you to have a CIBIL score of over 750.

    How can I improve my eligibility?

    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:

    • Repaying credit cards on time – monthly credit card payments, in full, will improve your score.
    • Closing all loans as per the terms on which you took them – don’t ask for extensions or immediate settlements with your lender, finish off your loan EMIs as they arise.
    • Not standing as guarantor on potentially defaulted loans – Make sure the person whose loan for which you’re standing guarantor is responsible and capable of repaying the loan.
    • Maintaining good relations with banks.
    • Don’t over-leverage yourself – don’t take more loans than you can pay off with your current take-home salary.
    • Don’t over-borrow – take life one loan at a time.

    What is the documentation you’ll need?

    To apply for a personal loan and have it approved, you will need to submit a certain set of documents that prove your identity and prove that you will be able to repay the loan based on the claims of income you’ve made.

    Documents you’ll need are:

    • PAN (Personal Account Number) Card.
    • Identity proof – this must contain your full name as it appears on the application along with photo ID, if you aren’t submitting a separate photo ID, it is recommended to submit a photo ID and identity proof together. This could be your Voter ID, Driving License, Passport, etc.
    • Address proof – this is to ensure that the address details you have provided are legitimate and verifiable. Any loan-related correspondence will be sent to the address, for which verifiable proof will have to be submitted in the form of Voter ID, Driving License, Passport, Telephone Bill, Electricity Bill, Registered Lease Deed or agreement, Sale agreement, Bank statement, etc. whichever can be taken as a legitimate and verifiable proof of address.

    • Passport-sized photographs will also have to be submitted for Capital First’s internal use – on forms, documents, etc. They may require a number of passport photographs, so be prepared with at least 5 or 7 of these.
    • Any valid Photo ID - card or otherwise - issued by the state or central government.
    • Salary slips or bank statements of credited salary – will be required to verify that you indeed are earning as much as you claim.

    • Bank statements – to verify that your income from business is enough to support the personal loan you wish to take.
    • Form 16 issued by your employer.
    • Income documents of your salaried spouse – in case you wish you club your income.

    Why apply for a Capital First personal loan through BankBazaar?

    BankBazaar is your one-stop-shop for all loan, credit card, deposits and insurance related services. We take the mess of information available on the internet and curate, condense and classify it in a manner that is easy for you to read and understand. There’s minimal financial jargon, and more raw important information for you to consider before taking – in this case – a loan.

    While banks and NBFCs may present only the benefits and advantages of taking a loan from their institution, we take all offers on the market into consideration and make sure you make the best possible choice, based on your personal needs. A loan from Bank A may have the interest rate you desire, but a loan from Bank B may have your desired tenure – we find all this information and even tell you about Bank C, which has the right interest rate, tenure and highest loan amount based on your unique eligibility criteria. We have consolidated and efficiently categorized information for you to be able to consider all available options before making a decision.

    • BankBazaar has tie-ups with many leading banks in India to get you instant loan approval at low and affordable interest rates.
    • Personalized and customized quotes on personal loans other financial products.
    • Track your application online, or through SMS.
    • Personalized eligibility calculator.
    • Compare offers from different banks and financial institutions.
    • BankBazaar maintains your privacy and does not disclose any information to anyone without your express permission.
    • Expert financial opinions.
    • Feedback and ratings by people just like you who have used different financial services from different banks, and left ratings and comments on how they were served.
    • Impartial and unbiased reviews on all financial products on offer by all banks.
    • Comparison charts and tables based on factors that are important for you – like features, benefits, processing fees, interest rates, etc.
    • Special offers and discounts from a host of online retailers, upon purchase of a product online from www.bankbazaar.com
    • It is free.

    How to apply for a personal loan from Credit First through BankBazaar.com

    First things first – go to www.bankbazaar.com and follow these steps:

    • Select the product you require (personal loans) from the menu bar on top.
    • Fill up the details form – where you live, where you work, how much you earn and how much of a personal loan you’d like to borrow and the tenure.
    • Compare and shortlist offers from a range of banks and NBFCs.
    • Once you finalize on a loan, click the submit button and you application will be sent to the vendor of your choice, who will contact you.
    • Enjoy your personal loan and reap the benefits of the best financial products available.

    How to calculate your EMIs through BankBazaar

    www.bankbazaar.com 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.

    Capital First Personal Loan FAQs

    • Who is eligible for a personal loan from Credit First?

      Salaried individuals between the age of 23 to 55 years old, earn over Rs.20,000 per month and have a decent CIBIL score. Self-employed persons who are between the age of 28 to 65 years old, have a yearly turnover of Rs.10,00,000 and have a decent CIBIL score.

    • When, and for what purpose can I take a personal loan from Credit First?

      You can take a personal loan as and when the need arises – to meet an emergency expense, to purchase assets, as capital for your business, for a marriage, or even if you just feel like it. The reason you need a personal loan needn’t be explained.

      When, and for what purpose can I take a personal loan from Credit First?

      You can take a personal loan as and when the need arises – to meet an emergency expense, to purchase assets, as capital for your business, for a marriage, or even if you just feel like it. The reason you need a personal loan needn’t be explained.

    • What is the maximum loan amount that I can take from Credit First?

      Loans for salaried employees can go up as high as Rs.10,00,000 and Rs.15,00,000 for self-employed people. This, of course, is dependent on your eligibility.

    • What is the rate of interest on a personal loan from Credit First?

      Interest rates range from 15% to 20% for salaried employees and 22% for those who are self-employed.

    • Where can I get an application form for a personal loan from Credit First?

      You can download it from their website, or you can compare their offer with many others and apply directly through www.bankbazaar.com.

    • How secure is the application process through BankBazaar?

      The BankBazaar application process is super-easy and ultra-secure. Your personal details will not be revealed or shared with anyone until you apply for a loan through a particular bank and even then, your details are only shared with the bank you choose.

    • What can one use the Capital First Personal Loan amount for?

      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.

    • Does one need to mortgage their property to avail the loan?

      The individual can get a sanction approval for the loan without mortgaging their property.

    • How is the interest calculated for the personal loan?

      The interest for the loan is calculated on a monthly basis for Capital First Personal Loan.

    • Does the bank offer foreclosure option for the loan?

      The bank does offer foreclosure options for the loan.

    • What is the minimum age requirement for the loan?

      The applicant needs to be at least 21 years of age to be eligible for the loan.

    • What is the Eligibility criteria for Capital First Personal 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.

    • What are the Documents required for Capital First Personal Loan?

      Listed below are the documents required to apply for the personal loan.

      • Completely finished application form
      • Passport size photograph
      • Security
      • Identity proof
      • Address proof
    • What are the ways through which one can apply for the loan?

      There are three ways through which one can apply for the Capital First personal loan.

      • Through a phone call to the bank
      • Visit a branch of the bank personally and apply for the loan there
      • Apply online either through the bank’s official website or through a third party financial website
    • What is the best benefit offered by the loan?

      The best benefit offered by the personal loan is that the loan provides insurance options at a lower premium.

    Capital First Personal Loan Customer Care

    Have a doubt about how to pay your first installment for your Capital First personal loan? Call the leading financial company's customer care number for support. The lender has a prompt and knowledgeable customer care support team that is dedicated to clearing all your doubts about personal loans. The lender also has a customer care portal that allows you to check your loan status, update KYC information, make EMI payments, etc. The customer helpline number is available from 9am to 7pm. You can also send an email to the lender's official email address to express your problem.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Capital First Personal Loan Reviews

    • Capital First Personal Loan
      "Good bank for rate of interest"
      0.5 4.0/5 "Great!"
      I have taken a personal loan in CAPITAL FIRST for more than 1 year which was processed through an other channel. As per my requirement the loan amount was low which was given from bank for the tenure of 5 years. The rate of interest is low of 10.9% when compare to other.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 13, 2019
    • Capital First
      Capital First Personal Loan
      "BEST"
      0.5 5.0/5 "Blown Away!"
      I have been using the personal loan from last 2013, the loan amount given was good and the rate of interest was 15.50%, the duration for repaying the loan was 3 years. The documentation process was good also there was processing fee applicable.
      Was this review helpful? 0
      , thane
      Reviewed on Jul 13, 2019
    • Capital First Personal Loan
      "Bad service"
      0.5 1.0/5 "Really Bad"
      I have a personal loan with Capital First. Tenure is 3 years. Their rate of interest is very high. When I contact customer service for any query I don't get proper response. They don't give clear information to their customers. I am not happy with their service.
      Was this review helpful? 1
      , surat
      Reviewed on Jul 12, 2019
    • Capital First Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied the personal loan with CAPITAL FIRST where the loan amount provided was good and satisfactory added on that at the between of the loan the institute has been taken over by another bank, i have received the sms and mail regarding the bank change.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 12, 2019
    • Capital First Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan in CAPITAL FIRST bank for more than 2 years before which was processed directly to bank. The amount was sufficient for 3 lakhs for the duration of 3 years. The rate of interest and processing fee are nominal. The process was smooth and good from banker. On time loan got sanctioned.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 11, 2019
    • Capital First Personal Loan
      "Test Review"
      0.5 4.5/5 "Excellent!"
      DLRJOFGBLLTTUOMTAIMVHCOEEMUJVHMVWLXECNEMIPLFFXVUQQKPZVVZGLYIDRAZKHIWYSEQWDLCOWUVPZKSVQGKTYUQKLGMCZLUCDVFJQXIATIGOFDHFGMEWFAJABVNJJKJYUSKYAFQHCBUFYJWNGVTAJDBBMMQSTXMQQWDPTSMRZUWTJWOMWZPCTRBFLJYQFKNJKPCTZXKESVMEC
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 04, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan from CAPITAL FIRST a long time back where the experience had been really good. They had given me an the interest rate has also been quite high when compared with the market rate. The loan amount which they offered is fine .
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 30, 2019
    • Capital First Personal Loan
      "Good loan services"
      0.5 4.0/5 "Great!"
      My new Samsung A20 mobile by using the Capital first consumer durable loan. I bought the mobile worth Rs. 17000 for that i made the down payment of Rs. 4000. I already had existing limit of Rs. 18000. I have submitted the proof of Aadhar card. I selected the tenure period of 6 months.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 29, 2019
    • Capital First Personal Loan
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with Capital first from long time, the loan amount which they have given to me was sufficient they have given me as per my requirement, the EMI amount i use to pay up to 2275 which was sufficient, now i have successfully closed this loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 29, 2019
    • Capital First Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have been holding my personal loan with Capital first from long time, their service is not up to the mark, they use to charged me hidden charges without my knowledge, they charged too high rate of interest while applying they said they will be charged me up to 18.5-19% but they charged me up to 36% which was very high, the loan amount they have just given me up to 52,400 in that too they have deducted they gave me up to 48,200, they said after 6 months i can close this loan, i went to close it, i save up to 18,000 they charged me 14,000 and 4,000 as principal amount, i am not happy with the service.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 29, 2019
    • Capital First Personal Loan
      "Good and easy processing"
      0.5 4.0/5 "Great!"
      Bought my personal loan from capital First because of the less documentation and faster approval. I have done a pre-closure the loan but there was no additional charges for that. They have provided me a interest rate of 22%. They did not count for the remaining month interest rate even though i pre-close the loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jun 28, 2019
    • Capital First Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Earlier I had personal loan with Capital First, the interest was higher around 14 to 18%, the principal amount was good. I took Rs. 80,000 for the duration of two years. I paid all the emi and I got the NOC letter from their end. On time the support team send the reminder and alerts.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jun 28, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had applied for my personal loan from CAPITAL FIRST since it is easy and convenient in getting the loan from them. The process in getting my loan from them was pretty much easy and the loan amount which they had provided also was sufficient. The interest rate and charges where a little on the higher side but it was okay. Their customer support team was very much helpful.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The process in getting my Car loan from them has been quite good and the process went smooth. I have taken my card loan with CAPITAL FIRST and the loan amount is good . The tenure period is fine . Their customer support and their response has been good and has been helpful as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2019
    • Capital First Personal Loan
      "Good loan service"
      0.5 4.0/5 "Great!"
      Purchased my personal loan in the year of 2013. I have chosen capital First because i have applied through online after that their executive has approached me initially. I taken the loan amount of Rs. 2.6 lakhs. Overall, I'm satisfied with the capital first services.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 23, 2019
    • Capital First Personal Loan
      "Awesome with capital First"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from Capital First and for this loan, i directly visit the branch. They have provided me a very good services. I was applied the loan amount of Rs. 2.30 lakhs and they have offered me a interest rate of 12%. And there is no pre-closure charges and there is no partial payment facility at all.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got my personal loan with CAPITAL FIRST . My loan amount is satisfactory and tenure period is sufficient . There is no hidden charges with this bank , and rate of interest is it is nominal in the market . Customer support is good and they responded on time .
      Was this review helpful? 0
      , indore
      Reviewed on Jun 20, 2019
    • Capital First Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan with Capital first, their service was good, i got loan on time, they did not ask much documents, their customer care help me out if i get any query or issue, their overall service so far was good, Their rate of interest and processing fee which they have charged me was nominal.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Jun 14, 2019
    • Capital First Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan with Capital First and have completed the loan before 2 months. The rate of interest is higher and they have charged me a processing fee. They have charged me around 16-18% for the loan amount of 2L. The loan duration was 4 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 10, 2019
    • Capital First Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I did not upload the documents on time due to network issue from my end so could not process the personal loan with Capital First. The services are good. The rate of interest was not an issue due to urgency situation. I have applied for 5.5L and not getting proper follow ups.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 08, 2019
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