Table of Contents

IDFC Bank Personal Loan Highlights What are the Types of IDFC Personal Loan?IDFC FIRST Bank Personal Loan Processing Fees How to Calculate IDFC Personal Loan EMI?IDFC Personal Loan Eligibility Criteria Documents Required for Personal Loan in IDFC Bank How to Apply for an IDFC Personal Loan?How to Check IDFC Personal Loan Status Online?How to Download IDFC Personal Loan Statement Online?IDFC vs Other Banks Interest Rates (2025 Rates)IDFC Personal Loan Customer Care Number & Contact Details IDFC Personal Loan vs. NoBroker Cash Loan - Which is Better?Get Instant Cash with NoBroker InstaCash Frequently Asked Questions

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Home Blog Cash Loan IDFC Personal Loan Interest Rate

IDFC Personal Loan Interest Rate: Eligibility, Documents, Charges and Stepwise Procedure in 2025

Published : September 18, 2025, 12:28 PM

Updated : September 18, 2025, 12:29 PM

Author : krishnanunni

Cash Loan

Personal Loan

3789 views

Summary

IDFC FIRST Bank personal loans begin at 9.99% per annum, offering flexible repayment terms of up to six years for salaried and self-employed borrowers. With options like instant and pension loans, zero foreclosure charges, and minimal documentation through Video KYC, they ensure ease and transparency. Borrowers can check eligibility, calculate EMIs, apply online, and track status seamlessly. Backed by fast disbursals, digital support, and customer-friendly features, IDFC FIRST Bank provides a reliable solution for diverse financial requirements.

Table of Contents

Accessing quick and reliable funding comes in handy in case of any financial responsibilities like weddings, education, or home renovation. In this context, the IDFC personal loan interest rate begins at 9.99% per annum, supported by repayment tenures of up to six years. IDFC FIRST Bank simplifies the borrowing journey through a digital-first approach, making personal loans transparent, convenient, and adaptable to diverse financial needs with customer-friendly eligibility and flexible repayment options.

IDFC Bank Personal Loan Highlights

This table provides a consolidated overview of the key features and terms associated with an IDFC FIRST Bank personal loan, offering a quick reference for prospective borrowers.

Feature	Details
Loan Amount	Up to ₹1 Crore (for select customers)
Interest Rate Range	9.99% p.a. onwards [1]
Tenure	6 to 60 months (Up to 5 years) [1]
Processing Fee	Up to 3.5% of the loan amount + applicable taxes [2]
Prepayment Charges	NIL (Zero) foreclosure charges after a specified period. [2]
Approval Time	Instant for pre-approved customers; quick disbursal for others.

What are the Types of IDFC Personal Loan?

IDFC FIRST Bank's tailored approach ensures that borrowers can find a financial solution that aligns with their life stage and requirements. [1]

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Loan Type	Loan Amount	Interest Rates (p.a.)	Tenure	Processing Fees	Approval Time
Standard Personal Loan (for various purposes)	Up to ₹1 Crore	From 9.99% onwards	Up to 5 years	Up to 3.5%	Standard
Instant Personal Loan	Varies by profile	Based on the customer profile	Flexible	As per the offer	Instant / 30 mins
Pension Loan	Varies based on pension	Competitive rates	Up to 5 years	As per policy	Quick

IDFC FIRST Bank Personal Loan Processing Fees

The bank is known for its transparent fee structure, which includes several customer-friendly policies. [2]

Charge Type	Amount / Rate
Processing Fee	Up to 3.5% of the sanctioned loan amount + applicable taxes.
Prepayment Charges	Part-prepayment is generally not permitted on term loans.
Foreclosure Charges	NIL (Zero). One of the key benefits is the absence of IDFC personal loan foreclosure charges.
Late Payment Penalty	2% of the unpaid EMI per month (24% per annum).
EMI Bounce Charges	₹400 per instance of dishonour of a cheque / electronic payment instruction.
Loan Cancellation Charges	No penalty if cancelled within the 3-day cooling-off period.
Stamp Duty	As per the actuals applicable in the respective state.

How to Calculate IDFC Personal Loan EMI?

Calculating your Equated Monthly Instalment (EMI) is a critical step in financial planning. Using a personal loan EMI calculator, IDFC provides an accurate estimate of your monthly payment obligation.

The standard mathematical formula for EMI calculation is: EMI = [P x R x (1+R)^N] / [(1+R)^N-1] Where:
- P is the Principal loan amount.
- R is the monthly rate of interest (annual rate divided by 12).
- N is the number of monthly instalments (tenure in months).
Example: For a loan of ₹5 lakh at an 11% annual interest rate for a tenure of 5 years (60 months):
- The calculated EMI would be approximately ₹10,871.

IDFC Personal Loan Eligibility Criteria

To successfully apply for a loan, applicants must meet the specific IDFC personal loan eligibility criteria established by the bank. [2]

For Salaried Individuals

Age: Minimum 23 years.
Citizenship: Must be a resident of India.
Monthly Income: The IDFC Bank personal loan minimum salary requirement is generally around ₹20,000, but can vary based on location and employer.
Credit Score: A CIBIL score of 730 or above is generally required for loan approval and competitive interest rates.

For Self-Employed Individuals

Age: Minimum 25 years.
Business Vintage: The business should have a stable operating history.
Income: A stable and verifiable source of income is required.
Credit Score: A strong personal and business credit history is essential.

Documents Required for Personal Loan in IDFC Bank

A standard set of documents is required to process your personal loan application. The bank's digital process often relies on minimal documentation through Video KYC. [1]

The primary documents required are:
- Identity and Address Proof: A valid Aadhaar Card number.
- Identity Verification: A physical PAN Card is required to be shown during the Video KYC process.
- Income Proof: For some non-instant loan applications, recent salary slips and bank statements may be requested.

How to Apply for an IDFC Personal Loan?

The process for IDFC Bank personal loans is designed to be digital-first, simple, and exceptionally fast, reflecting the bank's modern approach. [1]

Step 1: Navigate to the personal loan section on the IDFC FIRST Bank website or mobile application.
Step 2: Register with your mobile number and provide basic details like your PAN and Aadhaar number to check your eligibility and receive an instant loan offer.
Step 3: Select your desired loan amount and tenure from the approved limit.
Step 4: Complete the mandatory Video KYC process, where you will need to display your physical PAN card.
Step 5: Link your bank account for automated EMI payments.
Step 6: Upon successful verification, the loan amount is disbursed to your account, often within hours.

How to Check IDFC Personal Loan Status Online?

After applying, you can easily track the progress of your application. The IDFC Bank personal loan status can be checked through the bank's digital channels.

Step 1: Visit the official bank website and find the "Track Application" link, usually in the personal loan section.
Step 2: Input your application reference number and registered mobile number as required.
Step 3: The portal will display the current status of your IDFC personal loan application, whether it is under review, approved, or requires further action.

How to Download IDFC Personal Loan Statement Online?

Accessing your loan statement is a simple process with the bank's digital services. An IDFC personal loan statement helps you keep a detailed record of your repayments.

Step 1: Access your IDFC FIRST Bank account using your credentials on the website or mobile app.
Step 2: Find the "Loans" or "Account Summary" section and select your active personal loan.
Step 3: Choose the option to view or download your e-statement and select the desired time period.
Step 4: The loan statement will be generated, typically in a PDF format, for you to save or print for your records.

IDFC vs Other Banks Interest Rates (2025 Rates)

When considering a personal loan, it is prudent to compare the IDFC First Bank personal loan interest rate with that of other leading lenders in the market.

Bank / NBFC	Personal Loan Interest Rate (p.a.)	Unique Selling Proposition (USP)
IDFC FIRST Bank	9.99% onwards	NIL foreclosure charges, quick digital processing, and a transparent fee structure.
HDFC Bank	10.50% onwards [4]	Wide branch network and speedy disbursal for existing customers.
ICICI Bank	10.60% onwards [3]	Flexible loan products and a strong digital platform for existing customers.
Axis Bank	9.99% onwards [6]	Flexible tenures up to 7 years and a streamlined online application process.
Kotak Mahindra Bank	9.98% onwards [5]	Tailored loan products for various needs and a simple online process.

IDFC Personal Loan Customer Care Number & Contact Details

For any queries or assistance, the IDFC First Bank personal loan customer care number and other channels are readily available for support.

Customer Care Number: Customers can call the toll-free number 1800 10 888 for any queries related to personal loans and other banking services.
Email Support: Queries can be sent to the designated customer service email address, which is banker@idfcfirstbank.com.
Branch Visit: You can visit any IDFC FIRST Bank branch for in-person assistance from a loan officer.
Mobile App: The bank's mobile app also offers a secure channel for submitting service requests and receiving support.

IDFC Personal Loan vs. NoBroker Cash Loan - Which is Better?

When evaluating borrowing options, it is beneficial to compare a traditional IDFC First Bank personal loan with modern fintech alternatives, such as NoBroker InstaCash.

Feature	IDFC FIRST Bank Personal Loan	NoBroker InstaCash
Approval Time	Instant to a few hours	Instant (within minutes)
Loan Amount	Up to ₹1 Crore	Up to ₹10 Lakh
Eligibility	Based on salary, CIBIL score, and employment history.	Primarily based on consistent monthly rent payments.
Documentation	Minimal (Aadhaar & PAN for VKYC)	Minimal; primarily requires a rental agreement and basic KYC.

Get Instant Cash with NoBroker InstaCash

Meeting unplanned expenses often requires quicker solutions than those tied to the idfc personal loan interest rate. For such situations, NoBroker InstaCash provides tenants with instant access to funds up to ₹10 lakh, directly linked to monthly rent transactions. The fully digital process minimises paperwork and speeds up disbursal, offering a stress-free borrowing experience. Whether it’s for medical emergencies, urgent travel, or short-term commitments, InstaCash proves to be a reliable way to secure liquidity on time, making it a practical complement to traditional personal loan products.

Frequently Asked Questions

Q1. What is the IDFC personal loan interest rate in 2025?

Ans. The IDFC Bank personal loan interest rate for 2025 starts from 9.99% per annum. The final rate depends on the applicant's credit score and financial profile.

Q2. What CIBIL score is required for an IDFC personal loan?

Ans. A CIBIL score of 730 or higher is generally required to be eligible for an IDFC FIRST Bank personal loan and to secure a competitive interest rate.

Q3. How to check IDFC personal loan status?

Ans. You can check the IDFC First Bank personal loan status online via the bank's official website using your application reference number and registered mobile number.

Q4. How can I download an IDFC personal loan statement?

Ans. You can easily download your loan statement by logging into your IDFC FIRST Bank internet banking account or the mobile app and navigating to the loans section.

Q5. How long does IDFC take to process a personal loan?

Ans. The processing time is speedy. An IDFC instant personal loan can be approved and disbursed within a few hours, sometimes in as little as 30 minutes.

Q6. What are the IDFC personal loan foreclosure charges?

Ans. A key benefit is that IDFC FIRST Bank charges NIL (zero) foreclosure charges on its personal loans, allowing you to close the loan early without any penalty.

Q7. Can I get a top-up on my IDFC personal loan?

Ans. Yes, IDFC FIRST Bank offers an IDFC personal loan top-up facility to existing customers with a good repayment track record, allowing them to borrow additional funds.

Q8. Who is eligible for an IDFC personal loan?

Ans. Both salaried and self-employed individuals between the ages of 21 and 60 with a stable income and a good credit score are eligible to apply.

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krishnanunni,Author

Krishnan grew up in the libraries of Thiruvananthapuram. As an engineer turned writer, Krishnan is fascinated by the stories told by cities through their buildings, culture and music. His blogs are aimed at breaking down the most relevant and actionable insights on the Indian realty sector.

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