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Product Details
Bank Name

IDFC First Bank

Minimum Loan Amount

Up to ₹1 crore

Interest Rate

Starting 10.75% to 23%

Minimum CIBIL Score

Minimum Loan Tenure

84 months

Small personal loans
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Small personal loans

Fees and Charges
Processing Fees of upto 3.5% will be deducted from the loan amount at the time of disbursal Late payment fees 2% of the unpaid EMI or Rs 300 whichever is higher. The late payment fees might be applicable from the date of default to the date of payment.
For Salaried Individuals: Minimum Age: 23 years Maximum Age: at the time of loan maturity - 60 years or retirement, whichever comes first For Self-Employed Individuals: The business must have been in existence for a minimum period of 3 years Minimum Age: 25 years Maximum Age: 65 years at the time of loan maturity
Special Concession
Fees, Eligibility and Concession
Quick and hassle-free digital application process; Competitive interest rates; Balance transfer of existing loans and credit cards at affordable rates
High processing fees and foreclosure charges; Minimum income requirement of ₹25,000 per month
Pros and Cons
IDFC First Bank offers Small Personal Loans to meet the small capital needs of the applicants.
Special Features
Flexibility to make up to 40% part payment
Purpose and Features
How to Apply?
Documents Required
Account Opening and Procedures
IDFC First Bank

Overall, the IDFC First Bank's personal loan is convenient and easy to apply, for and is sanctioned without any hassle. The interest rate is also low as compared to other Banks. However, the processing fees is high which might be a drawback for some customers. 

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
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