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IDFC First Bank Personal Loan

IDFC FIRST Bank offers FIRSTmoney personal loan up to Rs. 15 lakh for a tenure of up to 60 months. FIRSTmoney personal loan offers flexibility, affordability and instant access to borrowers. Borrowers can apply through Paisabazaar and experience 100% digital processes with quick approval and disbursal. Borrowers can use the IDFC Bank personal loan to meet their various financial needs, including wedding expenses, educational expenses, travel expenses and more.
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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Key Highlights - IDFC FIRST Bank Personal Loan

The features of the IDFC personal loan are mentioned below:

  • Loan amount: Up to Rs. 15 lakh
  • Tenure: Up to 60 months
  • Interest rate: Starting from 9.99% p.a.
  • Processing fee: 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts)
  • Collateral: Not required.
  • Foreclosure: Zero

IDFC FIRST Bank Personal Loan Interest Rates 2026

IDFC FIRST Bank personal loan interest rate starts from 9.99% p.a. onwards. It is important to note that the final interest rate on your IDFC personal loan will be determined based on various factors, including credit score, existing obligations, income range and employment type, etc.

Detailed IDFC FIRST Personal Loan Eligibility Criteria

The IDFC personal loan eligibility criteria are simple and easy to understand:

  • Employment: Salaried and Self-employed Individuals
  • Age: 21 to 60 years
  • CIBIL score: Minimum 710 or above

Documents Required for IDFC FIRST Loan Online

To apply for an IDFC personal loan online, borrowers need to provide the physical copies of the documents mentioned below at the time of video KYC:

  • PAN card (Mandatory documents for all the applicants)
  • For Video KYC: Passport, Voter ID, Driving License

The loan process is 100% digital and paperless.

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IDFC FIRST Bank Personal Loan EMI Calculator

Before applying for a personal loan, a smart move entails estimating your EMI using the IDFC Personal Loan EMI calculator. It helps you understand how much money will be used up as EMI every month and how much you will be left with, aiding in well-informed loan selection. To use the IDFC personal loan EMI calculator, users need to enter:

  • The loan amount
  • The loan tenure
  • The interest rate

How to Apply for an IDFC FIRSTmoney Personal Loan Online via Paisabazaar

You can apply for IDFC Bank personal loan online at Paisabazaar in the following steps:

  • Login to your Paisabazaar app
  • Select the “Personal Loan” icon
  • Fill in the required details
  • A list of personal loan offers as per your eligibility will be displayed
  • Check for the IDFC FIRST Bank personal loan and apply.

IDFC Personal Loan Fees and Other Charges

The fees and charges of the IDFC FIRSTmoney personal loan are as follows:

Particulars Charges
Processing Fees 0 to 3.5% of the loan amount (incl. GST)Note: 0% processing fee is available on select loan amounts
EMI Bounce Charges EMI Bounce Charges 12% of the EMI/ Outstanding amount (minimum Rs. 400 & maximum Rs. 1000)
Stamping Charges As per the State’s Stamp Act
Penalty on overdue EMIs 12% p.a or Rs 300, which is higher.
Foreclosure charges NIL
Cooling-off period 3 days (Loan can be cancelled without penalty within 3 days)

How IDFC FIRST Bank Personal Loan is Different from Other Lenders

  • FLEXI Personal Loan: IDFC FIRSTmoney offers a flexi loan option. With FIRSTmoney, you don’t have to apply for a new loan every time you need money. Once your loan offer is approved (say up to Rs. 10 lakh, depending on your credit score), you can withdraw money in parts whenever you need it with loans starting from as little as Rs. 10,000.
  • Pay on What You Use: You will be charged interest on the amount used, not on the amount approved.
  • Flexible Repayment: With repayment tenures ranging from 9 to 60 months, you get the flexibility to choose an EMI plan as per your budget.
  • Minimal Documentation: You only need your PAN card during the video KYC process, and you are good to go.

IDFC FIRST Personal Loan vs Other Popular Personal Loans

Feature IDFC FIRST HDFC ICICI Axis
Starting Interest Rate 9.99% 9.99% 9.99% 9.99%
Loan Amount 15 lakh 50 lakh 50 lakh 40 lakh
Tenure 60 months 72 months 72 months 84 months

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FAQs

What is the minimum CIBIL score for an IDFC personal loan?

IDFC FIRST Bank prefers its applicants to maintain a score of 710+ in case of salaried employees, whereas self-employed individuals need to maintain a score of 760+ to get the loan application approved without much difficulty..

Can a self-employed person get an IDFC Bank personal loan?

Yes, self-employed professionals can also apply for an IDFC FIRST Bank personal loan.

What is the minimum income required for an IDFC personal loan in India?

IDFC Bank has not mentioned the minimum income required for their personal loan. However, a debt-to-income ratio of 50-55% is usually asked by lenders in India for a personal loan.

What is the current IDFC personal loan interest rate in 2026?

The current IDFC personal loan interest rate in 2026 is 9.99% p.a.

What factors affect my IDFC Bank personal loan interest rate?

Factors like the borrower’s credit score, debt-to-income ratio, loan tenure, loan amount, etc., affect the IDFC Bank personal loan interest rate.

Is the IDFC personal loan interest rate fixed or floating?

IDFC personal loan interest rate is fixed.

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 a late payment penalty, EMI bounce charges, lowering of the credit score and the loan being 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, maintaining a stable income, maintaining a Net Monthly Income/Equated Monthly Instalment (NMI/EMI) ratio of 50-55%, applying with a co-applicant and more.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Anubhuti Agrawal
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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