IDFC First Bank Personal Loan

To know if you are a pre-approved customer of the IDFC FIRST bank, then you can check it online on Paisabazaar. Being a pre approved customer makes you eligible to avail personal loans at preferential interest rates with no document check.

IDFC FIRST Bank Personal Loan Highlights
Interest Rate	10.70% – 23.99% p.a.
Loan Amount	Up to Rs. 10 lakh
Repayment Tenure	From 9 months to 5 years
Processing Fees	2% of loan amount (incl. GST)
Foreclosure Charges	NIL

Note: Rates updated as of 16 May 2025.

IDFC FIRST Bank Personal Loan Interest Rates

IDFC FIRST Bank offers personal loans at an interest rate ranging between 10.70% – 23.99 p.a. The bank offers personal loan interest rates based on the applicant’s income, creditworthiness, employment stability, employer’s profile, etc.

Key Features & Benefits of IDFC FIRST Bank’s FIRSTmoney Smart Personal Loan

Take a look at the key features & benefits of IDFC FIRST Bank’s FIRSTmoney Smart Personal Loan:

Features:

Interest Rate: 10.70% -23.99% p.a.
Loan Amount: Up to Rs. 10 lakh
Repayment Tenure: Up to 5 years
Foreclosure Charges: Nil

Benefits:

Only PAN and Aadhaar card required for digital personal loan
Instant loan approval and disbursal within 30 minutes
Loan Process: 100% Digital, Quick and Paperless

Types of IDFC FIRST Bank Personal Loans

IDFC FIRST Bank offers a wide range of personal loan products that helps in fulfilling various financial needs of its customers. Find below its types and purposes:

Personal Loan for Wedding

Purpose: Prospective personal loan borrowers can avail IDFC FIRST Bank marriage loan to meet their wedding related expenses.

Personal Loan for Travel*

Purpose: Applicants can avail IDFC FIRST Travel Loan to meet the financial requirements for travel related activities, including domestic and international vacations.

Personal Loan for Medical Purpose

Purpose: IDFC FIRST Bank offers Medical Loans to meet the financial requirements of applicants for medical purposes such as hospitalization, treatment cost, surgery, operation, etc.

Personal loan for Home Improvement

Purpose: Potential loan borrowers can avail IDFC FIRST Bank Loan for home improvement purposes, such as tiling, painting, fencing, flooring, adding an extra room, balcony/terrace maintenance, etc.

Personal Loan for Debt Consolidation

Purpose: IDFC FIRST Bank offers Debt Consolidation Loan to its applicants for making repayment towards debt, and loan and credit card dues.

Note: All the IDFC FIRST Bank’s personal loan types come with a uniform interest rate of 10.99% p.a. onwards and loan amounts of up to Rs. 10 lakh.

*Display your physical PAN card for Video KYC (VKYC) during the online smart personal loan application.

IDFC FIRST Bank Personal Loan Eligibility Criteria

IDFC FIRST Bank offers personal loans to both salaried and self-employed individuals, with specific eligibility criteria. Find below a comprehensive overview:

Employment: Salaried and Self-Employed Individuals
Age: 21 to 60 years
CIBIL score: Minimum 730 or above

Documents Required for IDFC FIRSTmoney Personal Loan

To apply for an IDFC FIRSTmoney Smart Personal Loan, the loan process is 100% digital and paperless. However, you may be required to furnish the physical copies of the below mentioned documents at the time of video KYC:

PAN card (Mandatory documents for all the applicants)

For Video KYC: Passport, Voter ID, Driving License

IDFC FIRST Bank Personal Loan EMI Calculator

To estimate your monthly repayments for an IDFC FIRST Bank personal loan, you can utilize Personal Loan EMI Calculator and get approximate results. The personal loan EMI calculator provides access to input your desired loan amount, interest rate, and tenure to calculate your EMIs instantly.

Personal Loan EMI Calculator

Amount

₹

Interest Rate

%

Tenure

Year(s)

Personal Loan EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395

How to Use the EMI Calculator

Accessing the personal loan EMI calculator is really simple and user-friendly. You just need to enter the loan amount, input the interest rate and select the repayment tenure to view the EMI details, including monthly EMI amount, total interest payable, total amount (principal + interest) and amortization schedule.

Fees & Charges

Particulars	Charges
Processing Fees	2% of loan amount (incl. GST)
EMI Bounce Charges	EMI Bounce Charges 7.5% of the EMI/ Outstanding amount (minimum Rs. 400 & maximum Rs. 1000)
Late Payment/Penal Charges	2% of unpaid EMIs
Stamping Charges	As per actuals
Cheque/ Mandate Swap charges	Rs 500 per swap
Physical Repayment Schedule	Rs 500
Foreclosure charges	NIL
EMI Pickup/Collection Charges	Rs 500
Document Retrieval Charges	Rs 500
Cooling-off period	3 days (Loan can be cancelled without penalty within 3 days)

Fees & Charges for Pre-approved Personal Loans

Particulars	Charges
Processing Fees	Up to 3.50% of disbursed amount for pre-qualified loans
Foreclosure or Prepayment Charges	Prepayment allowed after payment of 12 EMIs or 12 months, whichever is later Charges- 5% on outstanding principal after 12 months
Part payment	Not allowed
Late payment/Penal Interest	2% per month of the unpaid EMI or Rs 300, whichever is higher
EMI Bounce Charges	7.5% of EMI bounced with minimum charge of Rs. 400 & maximum of Rs. 1000
Cheque/Mandate Swap Charges	Rs 500
Stamping Charges	As per actuals
EMI Pickup/collection charges	Rs. 500
Duplicate No Objection Certificate Issuance Charges	Rs. 500
Physical Statement of Account	Rs. 500
Physical Repayment Schedule	Rs. 500
Document retrieval charges (per retrieval)	Rs. 500

IDFC FIRST Bank Personal Loan Customer Care

If you need support with your IDFC FIRST Bank personal loan, here are the official customer care numbers for your assistance:

Toll-Free Helpline (24×7): 1800-10-888
WhatsApp Service: Say ‘Hi’ on WhatsApp at 9555-555-555
While Travelling Abroad: +91-22-6248-5152

FAQs on IDFC First Bank Personal Loan

Can I get an instant personal loan from IDFC FIRST Bank?

Absolutely, IDFC FIRST Bank offers instant personal loans through its FIRSTmoney Smart Personal Loan platform. The bank offers a 100% digital process and allows eligible applicants to receive funds within 30 minutes of approval.

Can I foreclose my IDFC personal loan early?

Yes, you can foreclose your IDFC personal loan at no additional charge, as the foreclosure charges charged by the bank is NIL.

What is the interest rate on IDFC FIRST Bank personal loan?

The interest rate charged by the bank on its various types of personal loans ranges from 10.70% – 23.99% p.a.

Who is eligible for a personal loan from IDFC FIRST Bank?

Both, salaried and self-employed individuals are eligible to avail personal loan, if they meet the eligibility criteria and have strong credit history with minimum CIBIL score of 730.

How much personal loan can I get from IDFC FIRST Bank?

The maximum loan amount that you avail from the bank is up to Rs. 10 lakh to meet your urgent financial requirements.

What is the processing time for IDFC FIRST bank personal loan?

The processing fee charged by the bank on its personal loan is 2% of the sanctioned loan amount (GST inclusive).

What are the documents required for IDFC FIRST bank personal loan?

The mandatory document required by the bank is your PAN card and additional documents required are your Voter ID, Aadhaar Card, Passport and Driving License for Video KYC.

What is the minimum CIBIL score required for IDFC FIRST Bank personal loan?

To be eligible for a personal loan from IDFC FIRST Bank, applicants are generally required to have a minimum CIBIL score of 730.

How to apply for an IDFC FIRST Bank personal loan online?

You can apply for IDFC FIRST bank personal loan online on Paisabazaar at an interest rate starting from 10.99% p.a. and also check if you are already a pre-approved customer or not.

What happens if I miss an EMI on my IDFC FIRST bank loan?

Missing an EMI (Equated Monthly Installment) on your IDFC FIRST Bank personal loan can lead to late payment penalty, EMI bounce charges, low CIBIL score and even your loan could be classified as an NPA, if EMI remains unpaid for 90 days.

How to increase my personal loan eligibility with IDFC FIRST bank?

Improving your personal loan eligibility with IDFC FIRST Bank includes improving your credit score, apply with a co-applicant, maintain stable income proofs, maintain Net Monthly Income/Equated Monthly Instalment (NMI/EMI) ratio of 50-55% and maintain a healthy relationship with the bank.

IDFC FIRST Bank Personal Loan