How to Close IDFC Personal Loan?

Closing your IDFC FIRST Bank personal loan whether via cancellation or foreclosure is straightforward and flexible. So, how to close IDFC personal loan? If your loan was disbursed recently, you can cancel it within the 3 day "cooling-off" period without incurring any penalty simply repay the net disbursed amount (loan amount minus processing fee), and the bank will initiate the cancellation process.

How Do I Close My IDFC Personal Loan?

1. After the "cooling-off" period, you can still foreclose (pre-close) your loan at any time typically through the bank’s mobile app, website, or by contacting customer care on 1800-10-888.

2. The amount payable for foreclosure includes the outstanding principal and any applicable interest; however, for digital “FIRSTmoney” loans, no foreclosure charges apply meaning you can close your loan early without extra fee. For other, non-digital personal loans, foreclosure may attract charges according to your loan agreement such as 5% of the outstanding principal.

3. Once the foreclosure amount is paid, you can generate a No-Objection Certificate (NOC) via your app or request it from customer care.

The decisively digital process allows borrowers to manage the entire closure whether cancellation within 3 days or full foreclosure later via app or website, offering both efficiency and clarity.

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I can help you out with how to close IDFC personal loan as I have recently closed my personal loan in this bank and am aware of the process. You can do it through the bank’s website or through net banking. Just make sure you clear all your pending dues and then proceed with the closure process.

How Do I Close My IDFC Personal Loan?

There are two methods I can share on how to close IDFC personal loan online: via IDFC’s official website or via its Mobile Banking platform.

IDFC official website

You can close the IDFC personal loan through the IDFC website by following a few steps that are:

• Visit the

  IDFC website

• Click on the Login option

• Enter your loan account number

• Tap on the Pay Now option

• Choose the mode of payment

• Pay the remaining amount and you will be able to close the loan next

Via Mobile Banking

Let me now share another method on how to close IDFC bank personal loan 

• Go to the

  IDFC mobile banking

  portal

• Login next

• Select the option loan

• Select the pay EMI option

• Pay the renaming amount and get your personal loan closed

You can also call their toll-free number: 1800 10 888 or visit the nearest IDFC bank branch for the same.

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Closing personal loans usually cannot be done online. When I visited the IDFC bank branch a few years ago to learn how to close IDFC personal loan, the official mentioned that it could only be done offline. You will need to fill up the relevant form and submit an application for your home closure. Let me share the entire process here.

How Do I Close My IDFC Personal Loan?

To close your IDFC personal loan, here is what you need to do:

• Visit the bank and ask for the personal loan closure form:

This is the first step on how to close IDFC first bank personal loan. You should visit your IDFC bank’s branch and ask for the personal loan closure form there.

• Fill in all the details:

Your next step is to fill in the form with relevant details like your name, loan application ID and others 

• Request for a payoff amount from the bank:

The payoff amount is the amount you need to pay to close the loan. Ask the official what will be your payoff amount 

• Pay the remaining amount:

Pay the payoff amount to initiate the loan closure process next

• Ask the official to initiate the loan process:

Once you make the payoff payment, ask the official to initiate the personal loan closure. This will take some time so be patient.

• Obtain no dues certificate from the bank

Once the bank finds everything good to go, they will release the no-due certificate as proof that the loan amount has been paid fully 

Do keep all these documents with you as these are proof that you have no pending loans. So this is how to close IDFC personal loan online. If you fail to understand the process, you can also contact IDFC Bank on 1800 10 888. I hope my answer on how to close personal loan in IDFC will be helpful.

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