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    IDFC Bank Personal Loan

    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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    We found 1 IDFC Bank Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Good to Know
    Eligibility Criteria
    IDFC Bank Personal Loan is Rated as "Excellent!" by 85 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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.

    IDFC Bank Personal Loan Reviews

    • IDFC Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      The interest rate was quite high but it was okay and there was a processing fee which was high compared to other banks. IDFC BANK took 5 days for the loan disbursement. The documentation process was simple and easy. The loan duration was 5 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 20, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have recently applied for personal loan with IDFC bank. The loan amount which they have given me was good, based on my requirement they have given me good loan amount, and the rate of interest they have charged me up to 11.25% which is nominal,and they have charged me processing fee up to 7000 that too was nominal,Their overall service is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 16, 2019
    • IDFC Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with IDFC bank from last 5 years, the loan amount was for Rs 6 lacs with tenure period of 5 years. Customer service was good and they collected documents on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 16, 2019
    • IDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      IDFC experience is good, I took the loan value of Rs. 3 lakhs for the tenure 3 years, the customer support is fast the interest rate is lower side based on the market. They balance transfer and part payment is good, I am satisfied with IDFC loan experience.
      Was this review helpful? 2
      , thane
      Reviewed on Feb 12, 2019
    • IDFC Bank Personal Loan
      "Smart Banking"
      0.5 4.0/5 "Great!"
      I opened IDFC before two years its a wonderful experience, I used to get one movie ticket free every month based on the debit transactions . Since I am a salary holder its my zero balance account. Technology wise their netbanking and mobile app is very excellent.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 11, 2019
    • IDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The service is good with the IDFC Bank where i have taken it through the online as the documentation process is simple also it is easy to get the loan i got within a week. The rate of interest is satisfactory with this personal loan also the duration is flexible to repay the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 03, 2019
    • IDFC Bank Personal Loan
      "Average"
      0.5 5.0/5 "Blown Away!"
      The loan process was moderate and it took around 7 to 10 days. Their executive came to my place and collect the documents. They have provided me a loan what i have requested. I think the rate of interest can be better. I never spoke to the customer service. There is a processing fee which was 2% same like other banks.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 01, 2019
    • IDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am satisfied with the IDFC BANK. I got a service from their manager and am very happy. I have taken a personal loan through online channel. The rate of interest was 11.5% where other banks as offered me 10.99%. There was no processing fee but it has insurance charges and indirectly they have charged it.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 30, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      It was a good experience with IDFC bank for personal loan, the process was quick and i received my loan amount within 4-5 days. The loan amount was for Rs 4.5 lacs with nominal interest rate. Customer service was good and the tenure period for this loan is 3 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 21, 2019
    • IDFC Bank Personal Loan
      "Loan duration should be reduced"
      0.5 4.0/5 "Great!"
      Interest rate is good in IDFC bank, I already taken a personal loan from them. When compared to other banks, the customer support taken long time to process the application. Finally I got the loan after a week, I gave my paper on time but it got late.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 21, 2019
    • IDFC Bank Personal Loan
      "Process has to be faster"
      0.5 4.0/5 "Great!"
      I have applied the personal loan from IDFC Bank through online channel. The process was so lengthy and they took 1.5 months to disburse the loan. Initially have been informed it is a paperless but executive visited 4 times and lot of documentation. The rate of interest rate was good but it has some hidden charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 19, 2019
    • IDFC Bank Personal Loan
      "Charges should be reduced"
      0.5 5.0/5 "Blown Away!"
      Everything done on time by IDFC bank on the personal loan, on time I got the amount. I have taken the amount of Rs. 2 lakhs with the tenure of 5 years. I can close the loan after one year through foreclosure option. They have taken processing fee around Rs. 3000 its higher side.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 18, 2019
    • IDFC Bank Personal Loan
      "Must and Should"
      0.5 5.0/5 "Blown Away!"
      Reason for providing good rating, they are providing easy solution on the queries within one phone call. I am maintain salary account with them, but they are providing some credit interest. The e banking service of IDBI is excellent as per my experience.
      Was this review helpful? 0
      , dandeli
      Reviewed on Jan 10, 2019
    • IDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      It was a very good experience i had with this Personal loan. The interest rate with them has also been nominal when compared with the market rate. The loan amount has been sufficient and their charges has been nominal as well. I should appreciate the behavior and the response of their staffs which has been very good.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jan 09, 2019
    • IDFC Bank Personal Loan
      "Good facility"
      0.5 4.0/5 "Great!"
      Based on the lowest interest rate i have chosen the IDFC bank. I got the interest rate of 11% and i do not recollect the processing fee. I have applied the loan amount of Rs. 2 lakhs. Total tenure period of the loan is 5 years. The documentation process was good.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jan 09, 2019
    • IDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan from IDFC Bank through online channel. The rate of interest was fine with IDFC Bank.The executive came to my place and collected the documents. I can do part payment after one year. The loan duration is 3years. Every month need to pay 11k through ECS.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 04, 2019
    • IDFC Bank Personal Loan
      "Best banking service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with IDFC bank and my experience was good, the loan amount was for Rs 1 lac with less interest rate when compared to others. The loan amount was disbursed within 24-48 hours. Customer service was good and the tenure period was for 1 year.
      Was this review helpful? 5
      , mumbai
      Reviewed on Dec 29, 2018
    • IDFC Bank Personal Loan
      "Fast process for personal loan"
      0.5 5.0/5 "Blown Away!"
      Due to the very low interest rate i have selected the IDFC bank loan. They have given me a rate of Interest of 12% and I'm happy about it. I got the loan amount of Rs. 4.5 lakhs and the documentation process was clear and fast. They have charged me Rs. 6500 as a processing fee which is nominal. Received the loan in 4 days.
      Was this review helpful? 0
      , surat
      Reviewed on Dec 17, 2018
    • IDFC Bank Personal Loan
      "Sastisfactory"
      0.5 5.0/5 "Blown Away!"
      IDFC gave me the satisfactory loan amount which I requested, my principal amout is around Rs. 1.80 lakh for the tenure of five year, IDFC gave me 11.5% of interest they have taken some processing fee around Rs.2000, finally they have disbursed Rs.1.78 lakh.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Dec 13, 2018
    • IDFC Bank Personal Loan
      "Sastisfactory"
      0.5 5.0/5 "Blown Away!"
      IDFC gave me the satisfactory loan amount which I requested, my principal amout is around Rs. 1.80 lakh for the tenure of five year, IDFC gave me 11.5% of interest they have taken some processing fee around Rs.2000, finally they have disbursed Rs.1.78 lakh.
      Was this review helpful? 2
      , ludhiana
      Reviewed on Dec 13, 2018
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