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IDFC First Bank Consumer Durable Loan
| IDFC Bank Consumer Durable Loan Highlights | |
| Interest Rate | 10.05% p.a. onwards |
| Loan Amount | From Rs. 5000 to Rs. 8 lakh |
| Repayment Tenure | From 3 months to 36 months |
| Loan Process | Paperless and Digital |
Note: Interest Rates updated as of 27 Jan 2025.
IDFC First Bank Consumer Durable Loan Interest Rate
IDFC First Bank offers consumer durable loan at an interest rate of 10.05% p.a. onwards.
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Types of IDFC First Bank Consumer Durable Loans
IDFC Consumer Durable Loans
- No cost EMI is available for IDFC Consumer Durable Loans
- The bank offers minimum pre-set credit limit of Rs 3,000 that can be redeemed against any number of purchases.
- It also offers a minimum dynamic credit limit of Rs 25,000 based on consumer’s credit history.
- Instant approval on IDFC First Bank Consumer Durable Loan is also offered within 2 minutes to eligible applicants
- Limitless financing facility without any period-based restrictions for subsequent consumer durable loan from IDFC First Bank
Note: Customers unable to avail consumer durable loans can also explore Short Term Personal Loan or regular personal loan, depending on the loan amount, to finance their consumer durable purchases.
Easy Buy EMI Card (EBC Card)
- Offered to existing customers of IDFC First Bank
- Zero-cost EMI facility, i.e. EMI without any interest cost, is available
- Customers can apply to IDFC First Bank Consumer Durable Loan with instant approval
- Minimum pre-set credit limit of Rs 3,000, which can be redeemed against any number of purchases
- Buy now pay later option available
- Customers can avail subsequent loans at any given time, without any time-based restrictions
- Two limits are offered on Easy Buy EMI Card – one for taking consumer durable loan or Consumption Finance Loan and another to take two-wheeler loan
Partners of IDFC First Consumer Loans
IDFC First Bank has entered into partnerships with a wide range consumer durable dealers across major cities and towns in India. The online partners for IDFC First Consumer Durable Loans include Amazon, Flipkart, Cult Fit, Cashify, Dell, Myntra, Make My Trip, Lenovo, Tata Cliq, Urban Ladder, etc.
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Eligibility Criteria for IDFC First Consumer Durable Loans
- Age:
New Customer- 21-65 years
Existing Customer/Easy Buy EMI Card Customer– 21 to 68 years
- Employment Type: Salaried and self-employed individuals are eligible for Consumer Durable Loans
Documents Required for Loan Application
- ID Proof: Aadhaar card, Driving License, passport, voter ID, Job ID card issued by NREGA, National Population Register
- Address Proof: Passport, Driving License, Adhaar card, National Population Register, voter ID, Job ID card issued by NREGA, National Population Register
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IDFC Consumer Loan Fees and Charges
Charges/Fees
| Processing Fees | As applicable |
| Facilitation Fees | Rs. 199 |
| Foreclosure Charges | Up to 5% of principal outstanding amount |
| EMI Bounce Charges | Up to Rs 400 |
| Penal Interest | 2% per month of overdue instalment or Rs 300 whichever is higher |
| Swap Charges | Nil |
| EMI Pickup / Collection charges | Up to Rs. 350 |
Easy Buy EMI Card Fees
| Easy Buy EMI Card Fees | Rs. 530 |
| Card Replacement Fees | Nil |
| EBC & Push Card Annual Fee | Rs. 99 |