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  • IDFC Bank Personal Loan

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  • IDFC Bank personal loans are available at reasonable interest rates and flexible repayment tenures. Loans can be availed with minimal documentation and zero paperwork! With interest rates starting from as low as 11.5%, and processing fees at just 1% of the loan amount, IDFC Bank personal loans are great options for all your immediate monetary needs. The quantum of loan can range from Rs.2 lakh to Rs.25 lakh, and the tenure is flexible too.
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    IDFC Bank offers a personal loan product that will assist you in meeting your multiple needs easily. You can enjoy flexibility with this loan as it allows you to choose your tenure. You can also go for flexible EMIs and even modify it according to your requirements and preferences. With 86 branches in the country, you can approach any branch to get a loan conveniently.

    IDFC Personal Loan Interest Rates
    Particulars Salaried
    Interest rate 11.50% to 13.50% p.a.
    APR 12% to 19% p.a.
    Pre-closure fee 3% of outstanding loan amount (plus GST)
    Processing fee Up to 1% of loan amount
    Loan tenure 1 to 5 years

    Key features of IDFC Bank Personal Loan

    • The interest rate for IDFC Bank Personal Loans ranges from 11.0% to 14.5%. The minimum APR is 12% and the maximum APR is 19%.
    • The bank follows a fixed interest rate for its personal loans.
    • The loan tenure for this product ranges from 1 to 5 years.
    • You can enjoy paperless approval for IDFC Bank Personal Loan.
    • You do not have to get any guarantor to apply for this loan.
    • You will be required to pay low pre-closure charges if you decide to pay your loan early.
    • You can also enjoy a part-payment facility, a top-up loan option, and a balance transfer facility with an IDFC Bank Personal Loan.
    • You can repay this loan through installments on a monthly basis within a period of 5 years. Your EMI will be fixed as per loan tenure and loan eligibility.
    • When you enquire about this loan on BankBazaar.com, you will get an e-approval within just 30 minutes while you sit comfortably at home. You will also receive door-step service.
    • You can protect your IDFC Bank Personal Loan with loan protect and insurance facility with several reliable covers.
    • When you choose IDFC Bank Personal Loan, you can enjoy savings on your EMI and processing fee.

    Fees and charges for IDFC Bank Personal Loan

    • The processing fee for this loan is up to 1% of the loan amount. For loans of up to Rs.7.5 lakh, the processing fee will be 1% of the loan. For loans above Rs.7.5 lakh, the processing fee can be lesser than 1% of the loan amount.
    • The pre-closure fee is 3% of the outstanding loan amount (plus GST).
    • You will not have to pay any charges for part-payment of 40% of loan amount per year (conditions apply).

    GST and other government taxes, levies, etc. as per prevailing rates will be applied over and above the fees and charges.

    Types of IDFC Personal Loans

    IDFC offers a choice of 3 personal loan products wherein you can choose one that best suits your needs and requirements. The personal loan products available are as follows:

    • Simple Personal Loan
    • Smart Personal Loan
    • Personal Loan Balance Transfer

    IDFC Bank Simple Personal Loan

    IDFC’s Simple Personal Loan is a basic loan offered to customers who are looking for a loan that is quick as well as easy. This loan is only applicable for the salaried segment.

    Features of IDFC Simple Personal Loan

    • Banker-call-on-assistance service is available 24 hours a day and on all days of the week.
    • Loan tenures start from 3 months. You can choose a flexible tenure of up to 60 months.
    • This loan offers multiple insurance covers including personal accident insurance, critical illness cover, job loss cover and death cover.

    IDFC Bank Smart Personal Loan

    The Smart Personal Loan allows you to make payments on the loan according to your convenience. Using the part-payment facility, you can repay your loan faster and save on interest payments.

    Features of IDFC Smart Personal Loan

    • A part-payment facility is offered with this loan product. You can repay your loan in part or full without being charged extra.
    • Competitive rates offered.
    • Banker-call-on-assistance service is available 24 hours a day, 7 days a week.
    • Loan tenures starting from 3 months onwards. You can choose a flexible tenure of up to 60 months.
    • This loan offers multiple insurance covers including personal accident insurance, critical illness cover, job loss cover and death cover.

    IDFC Personal Loan Balance Transfer

    With the Personal Loan Balance Transfer facility, you can transfer the balances from all your current loans to IDFC Bank and repay all your loans in one place at competitive interest rates.

    Features of IDFC Personal Loan Balance Transfer

    • You can consolidate all your existing unsecured loans into a single IDFC Bank loan account.
    • Your payments will be consolidated into a single EMI.
    • Enjoy a better interest rate when consolidating all your debt into a single loan account.
    • You can choose between the simple and smart loan products to avail the balance transfer facility.

    Important points to note regarding IDFC Bank Personal Loans

    • IDFC Bank Personal Loans are unsecured loans. You do not have to provide any collateral, security or guarantee to apply for your loan.
    • You can apply for a personal loan amount between Rs.50,000 and Rs.20 lakh. The approval will depend on your income and capacity to repay the loan. However, you can apply for a larger loan amount if you club your income with the income of your spouse.
    • Upon submitting the application form with the required documents correctly, the bank will approve your personal loan and disburse the loan amount within 7 business days.
    • Repayment of IDFC Personal Loans will be done in EMIs (Equal Monthly Instalments) through EFT (Electronic Fund Transfer) from another bank account of your choice. You also have the option of repaying the loan through Standing Instruction to debit the EMI from your IDFC Bank account.
    • Part-payment facility is only available with Smart Personal Loan. The part-payment must be made through EFT into your loan account. Part-prepayments should be self-funded and not paid using balance transfer. This facility is not available for Simple Personal Loans.

    With an array of personal loan products offered by IDFC Bank, you can choose a loan that best fits your financial requirement.

        

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    IDFC Bank Personal Loan Reviews

    • IDFC Bank Personal Loan
      "Its Good"
      0.5 4.5/5 "Excellent!"
      IDFC personal loan process was good and the best part they gave me nominal interest around 14% for the principal. Based on my durable loan they offered personal loan around Rs. 1 lakh with the duration of 36 months. The process was faster they released the amount on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 19, 2019
    • IDFC Bank
      IDFC Bank Personal Loan
      "Need improvement on the response"
      0.5 2.0/5 "Expected more"
      From IDFC I availed the personal loan, the field executive came to my place done the documentation, I took Rs.1.53 lakh for the duration of five years. I already completed one year of duration, yet to remaining amount, they gave me the rate of interest around 16% per annum. But they need to improve their service because they no body responded for my loan queries.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 14, 2019
    • IDFC Bank Personal Loan
      "Hassle Free Experience"
      0.5 5.0/5 "Blown Away!"
      Based on vehicle loan I took the personal loan from IDFC for the amount of Rs.1.39 lakh at the time I got 10% of interest, they taken some processing fee and other charges from the disbursement. The loan documentation was very simpler the field executive came to my place and collected the papers within a weeks time I got a loan.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 09, 2019
    • IDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan in IDFC bank for more than one and half years which was applied through an online. They have sanctioned the loan on time. The amount which was offered for 50 thousands for the tenure of 2 years, within 2 months I am going to close the loan. The rate of interest is bit high and processing fee is nominal.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 02, 2019
    • IDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan with IDFC BANK year back and the process was good. I find the interest rate is bit higher and the processing fee was zero. The loan tenure is 6months. They have provided me a sufficient loan amount. The loan is still ongoing.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jul 29, 2019
    • IDFC Bank Personal Loan
      "Low interest rates"
      0.5 4.5/5 "Excellent!"
      Other bank asking for more interest percentage but IDFC has given me a very less interest rate of my personal loan thats the reason I have opted the loan with them. I have taken the loan amount of Rs. 2 lakhs and the processing fee was 3.5% and they are deducting the EMI of Rs. 6580. Total tenure period of the loan is 3 years.IDFC given instant personal loan immediately and their customer care service is less.
      Was this review helpful? 5
      , chennai
      Reviewed on Jul 19, 2019
    • IDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I applied personal loan though IDFC bank with the rate of interest of almost 21 % which was more. I applied only for 20 thousand with the tenure of 8 months. I have uploaded all documents through online without any calls and loan was disbursed on time.
      Was this review helpful? 4
      , new delhi
      Reviewed on Jul 19, 2019
    • IDFC Bank Personal Loan
      "Need to decrease charges"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan in IDFC bank for 2 years only 3 months are left to complete the payment. At the time from bank provided sufficient loan amount for the tenure of 3 years which was applied directly to bank. On time they have sanctioned the loan. The rate of interest are high for this loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 18, 2019
    • IDFC Bank Personal Loan
      "GOOD LOAN"
      0.5 5.0/5 "Blown Away!"
      I have applied for the loan where the documentation process was simple and quick to get the loan i got the loan within 1 day. The loan amount given was 1.60L, there was a processing fee. The rate of interest was higher, the customer support is good also i am receiving the mail, sms for emi.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 12, 2019
    • IDFC Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      The documentation process was easy and simple i got the loan amount within 7-10days. The loan amount given was good, rate of interest was nominal. I am using the loan from last 3 months duration for repaying w 4 years, processing fee was applicable.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 12, 2019
    • IDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from IDFC Bank for three years. They provided sufficient loan amount and rate of interest is nominal. There was no processing fee. IDFC Bank customer service is great. My overall experience with IDFC bank is good.
      Was this review helpful? 3
      , new delhi
      Reviewed on Jul 11, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with IDFC bank from long time, they have given me loan amount as per my requirement, they have charged me nominal rate of interest , they did not ask much documents like they just ask aadhar card and pan card and gave the loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 10, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with IDFC bank from long time, the loan amount which they have given to me was sufficient, they have given me loan as per my requirement, the rate of interest they have charged me was nominal, still this loan is running.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2019
    • IDFC Bank Personal Loan
      "Good loan service if bank is rejected"
      0.5 3.0/5 "Satisfactory"
      Its more than 2 years back, i have taken a personal loan from IDFC. Before 2 years i was not that much good with the credit score but only IDFC has ready to provide the loan for me. Since i have IT returns its easy to get the loan now. They have provided the interest rate of 16% and i have chosen tenure period of 4 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 05, 2019
    • IDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Personal Loan directly through IDFC bank .The rate of interest and the processing fee was nominal .I have applied for the loan amount of 1 lakh for the tenure of 3 years .The agent gave all the details about the card process ,I have got the required loan amount on time and it was sufficient as well.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 24, 2019
    • IDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through IDFC Bank .The rate of interest and the processing fee was nominal .I have applied for the loan amount of 2 lakh for the tenure of 3 years .The loan got sanctioned on time and this loan is still active as well .I am really satisfied with the service .The process was really smooth and very convenient to me
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been taken IDFC bank personal loan for recently, the loan amount which they have given to me was sufficient, they have given me as per my expectation, the rate of interest they have charged me was nominal, The loan came on time, so far i did not found any issue. Still this loan is running.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 11, 2019
    • IDFC Bank Personal Loan
      "Not satifactory services "
      0.5 4.0/5 "Great!"
      " I took a Personal Loan from the IDFC bank. The whole loan process was easy and super fast. The loan amount was satisfactory it is 200000, I pay an EMI on time. It was a good loan experience. Overall it was a very good loan experience e with the IDFC bank. Only rate of interest is high here . "
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 09, 2019
    • IDFC Bank Personal Loan
      "Better competitive bank with the competitive interest"
      0.5 5.0/5 "Blown Away!"
      They are giving 11.5% as a rate of interest and they have processed the loan in 1 week. I have applied the loan amount of Rs. 3 lakhs. They have a option of pre-closure and partial payment facility without any charges. The documentation process was smooth. I have been paying the EMI through auto deduction.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 07, 2019
    • IDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have been holding IDFC bank from long time, they have not charged me any hidden charges, the loan amount which they have given to me was sufficient, the rate of interest and processing fee which they have charged to me was nominal as per the market rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 07, 2019
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