Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 0 IDFC Bank Personal Loan
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    IDFC Bank Personal Loan is Rated as "Excellent!" by 9 Users

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    IDFC Bank Personal Loan

    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.

    Apply for Personal Loan

    IDFC Personal Loan Interest Rates

    Particulars Salaried
    Interest rate 11.0% to 14.5% 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.

    IDFC Bank Personal Loan Reviews

    • review Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with IDFC bank which was taken 1 year back. The loan amount was 2.5 lakhs and the processing fee was 1 %. Their customer service and responsiveness was up to the mark. Here the loan process was very easy and no charges for part payment .
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 02, 2017
    • review Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached IDFC bank for my personal loan .They have offered me 10.66% for 2 lacks which was satisfactory but they did not disburse the loan amount after 7 days so I dropped my plan to take the loan with them. Their website was unfriendly and simple to understand. I am satisfied with their customer service also.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • review Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      Within a week time I have received the personal loan from IDFC bank. The response is very good with IDFC bank. The required loan amount was Rs,5lakhs but they have approved 4laksh, but I am eligible to get up to 10lakhs. The rate of interest is nominal with IDFC bank. The lock in period is just 3 months and after that I can close the loan . There is no foreclosure charges with IDFC bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 16, 2017
    • review Personal Loan
      "Super fast process & a good deal"
      0.5 5.0/5 "Blown Away!"
      The process at IDFC Bank was super fast. I have taken a personal loan and I got the funds on the third day after me applying with them. The rate of interest was the same as other bank, but they had a part payment facility from the third month and the processing charges was less and there was no much of fees for the foreclosure as well.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 23, 2017
    • review Personal Loan
      "Not user friendly"
      0.5 3.0/5 "Satisfactory"
      With the IDFC bank, I got the personal loan and the interest rate was around 11.69% . The loan amount got disbursed within three weeks of time and the response , other aspects are an average one. They are not having sound knowledge about their product. I would like to suggest that they need to make the documentation process in simple way.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 14, 2017
    • review Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Recently, I availed personal loan from IDFC bank with the interest rate of 12.5%. I am much happy with the services of IDFC for the personal loan. They proceeded well and disbursed the loan on time. Their customer service is also very good to approach.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 14, 2017
    • review Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      I got the personal loan with the IDFC bank and the interest rate is around 13.5%. Within ten days of time, the loan amount got disbursed to my account and the processing charges were around 1% of the total capital amount. Response is good one with them.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • review Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      IDFC Bank did not take much time to approve my loan and I also got a very good deal on the interest rate and processing charges. But the guy who was supposed to collect the documents did not turn up until I called him. Overall a good experience, they helped me in time of need.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 02, 2017
    • review Personal Loan
      "Nice experience"
      0.5 4.5/5 "Excellent!"
      I had taken my personal loan from IDFC Bank and the process was excellent from them as they completed the whole process in four days time. It was also a secured process because I also had a choice to visit the bank I was communicated about the loan details too.
      Was this review helpful? 0
      , chennai
      Reviewed on May 31, 2017
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