IDFC First Personal Loans - Credit Score For Personal Loan

IDFC Bank Personal Loans

Personal loan details

• Interest rate- 12.5% to 18%
• Processing fees: Till 3.5% of the total loan amount plus GST
• Loan tenure: 1-4 years
• Loan amount: Till Rs. 2.5 lakhs
  

Main features of IDFC First Personal Loans

• Competitive interest rates
• Repayment flexibility
• Transfer current personal loan to get benefits
  

IDFC First Personal Loan Eligibility Criteria

For self-employed people

• Minimum age needs to be 28 and maximum 68 by the time of loan maturity
• Business should have existed for at least 3 years
• The company’s PAT or Profit After Tax needs to be positive
  

Salaried people

Minimum age needs to be 23 and maximum age 58 by the time of loan maturity

IDFC Bank personal loan required documents

1. ID proof like Aadhaar Card, Passport, PAN Card, etc.
2. Address proof like Aadhaar Card, utility bills, Passport, bank account statement, etc.
3. Proof of income
4. Documents For salaried individuals: Bank statement for the last 3 months/6 months, latest salary slip
5. Documents For self-employed individuals: Income Tax Returns for the last 2 years, balance sheet for the last 2 years, bank statement for the last 6 months
6. Proof of business applicable for self-employed individuals such as Qualification Certificate/Certificate of Practice (COP), Shop Act License/ MOA & AOA/ Sales Tax/ Vat registration/ Partnership Deed