Apply for IDFC First Bank Debit Cards - IDFC First Bank Debit Cards

IDFC First Bank offers you several debit cards. This includes Personal Debit Cards as well as Visa Debit Cards. In this article, we shall look at all of them.

Personal Debit Cards

The Visa Signature Debit Card

• Use this card to dine, shop and pay your bills both online and abroad.
• The debit card has an EMV chip through which you can set your own limits
• It has enhanced daily purchase limits and cash withdrawal limits
  

Here are its benefits:

Preliminary benefit

• If you spend Rs. 1000 or more on your very first transaction using this card, you get 10% back to a maximum of Rs. 250.
• Benefits in special offers
• You get special offers on BookMyShow buys.

Benefits in free airport lounge access

• Maximum of two complimentary access for IDFC First Bank Visa Signature and for IDFC First Bank Visa Business card holders for each calendar quarter
• Unrestricted but chargeable or paid access for self and for accompanying guests
• Card holders have access to shower, Wifi and Fax, at the discretion of the lounge operator. These are paid services.

Exclusive offers

• Exclusive hotel visa offers
• Get fantastic discounts on picked online and offline stores

Insurance coverage

• The cardholder will have no liability for any unauthorized transactions on the debit card after the receipt of a notification from the card holder.
• The card comes with a free death or permanent disability insurance cover.
• If the customer has several debit cards, the claim shall be given to the highest eligible debit card which meets all criteria

Special cash withdrawal and daily purchase limits

• Maximum daily cash limit- Rs. 10000
• Maximum daily purchase limit- Rs. 10000
  

Dinner offers

• You get exciting offers on food and beverages, and on wellness and medical centres and purchases
• Get fantastic discounts on selected stores using your debit card
  

Fuel surcharge waiver

Get 2.5% fuel surcharge on all petrol pumps across the country

IDFC First Bank Net Banking key features - IDFC First Bank

IDFC First Bank Net Banking key features

• Synchronized experience across all devices
• Easy to transfer money with NEFT, RTGs and IMPS
• Fast bill payment
• Access to loan details
  

NEFT

This allows you to transfer money instantly between your own bank account and a third party beneficiary’s account in any bank. Such funds are securely transferred through RBIs India’s InterBank Transfer Scheme.

RTGS

This allows you to transfer money to any Third Party beneficiary having an account at any other bank but not in IDFC First Bank, as long as the beneficiary is a participant in RBI’s Real Time Gross Settlement scheme.

IMPS

This is a unique instant interbank payment transfer system within India. You just need to input the beneficiary’s bank account number and his/her Indian Financial System Code to send money.

Are there any charges involved?

No, there are no charges to transfer money at all!

How to add a beneficiary?

• Log onto the IDFC First Bank Net Banking portal
• Select Add Beneficiary under the Fund Transfer section
• Select type of beneficiary and give details
• Enter the OPT you’ll get on your registered mobile number
• You’ll receive information about your beneficiary’s addition on your mobile number
• After successful addition to your account, the beneficiary shall be added after 30 minutes

IDFC First Bank Business Loans - Types and Features

IDFC First Bank is one of the top banks in the country which offers various banking products like business loans to both enterprises and to individuals. IDFC First Bank provides BIL or Business Instalment Loans to its customers, which is actually an unsecured loan for both companies and individuals. The loan is typically used to expand a business, for buying machinery and raw materials.

Interest rate

• Interest rate- 19%
• Loan amount- Minimum is Rs. 3 lakhs and Maximum is Rs. 75 lakhs
• Repayment tenure- Minimum is 12 months and Maximum is 5 years
• Age criteria- Minimum is 28 years and Maximum is 68 years
• Business existence time- Minimum of 3 years
• Business profit after tax after 2 years- Should be positive
• Company turnover- Rs. 1 crore or more

Eligibility

• Manufacturers
• Traders
• Retailers
• Sole partnership firms
• Partnership firms
• Self-employed individuals and professionals
• Private limited and closely held limited companies

Fees and charges

• Processing fees: Till 3.5% of the loan
• Foreclosure charges: 5% of the principal loan outstanding amount
• EMI bounce charge: Rs. 400
• Document retrieval charge: Rs. 500
• Statement of account: Rs. 500
• Duplicate NOC: Rs. 500
• Rebooking charges: Rs. 10000 within 30 days of disbursement
• Repayment instrument swap charges: Rs. 500
• Overdue interest: 2% per month of unpaid EMI or Rs. 300, whichever is more
  

Loan features

• Low processing fees
• Less paperwork
• No security needed
• You can get a comprehensive insurance coverage
• Door-to-door service
  

Documents you’ll need

• ID proof
• Address proof
• Last 6 months’ bank statement
• Last 2 years ITR statement with income calculation, Balance sheet and P/L account
• Proof of business continuation

IDFC First Bank - IDFC First Bank Vehicle Loans

Money can be a big problem for many people when they wish to buy the things they would like. Whether it is buying a new home, funding a marriage, finding a child’s education or buying a new car, or buying a commercial fleet of vehicles, money can be a problem.

The good news is that there are banks like IDFC First which offers you a Commercial Vehicle Loan. This loan is one of the best options for helping you in growing your transport business.

In this article, we’ll tell you the features and benefits of IDFC First Commercial Vehicle Loan.

Let us come to the features first.

Features and benefits of IDFC First Commercial Vehicle Loan

• You can get loans for both new vehicles as well as used vehicles. That means you can get the loan even if you are buying a used vehicle or second hand vehicle. And, as you know, there are distinct benefits in getting a used vehicle. These are used, but that does not affect its performance by a huge margin when compared to first hand vehicles. Besides, buying such vehicles is much cheaper than buying first hand ones. The market value of first hand vehicles decline sharply right after being bought. And thus, getting a used one is a smart move.
• You can get a loan amount anywhere between Rs. 1 lakh to Rs. 2 crore. This is a considerable benefit as you can get the amount you want or need.
• You get a flexible loan term between 1 year and 5 years. Depending on the amount, you can pick a suitable time to repay the loan.
• It is easy to get the loan as it involves minimal documentation. You’ll get the loan disbursed fast so that your life goes on as normal.
• You can get up to 100% of the total cost of the Small Commercial Vehicle or Vehicles.
• USP and Benefits of the IDFC First Commercial Vehicle Loan
• You can get up to 100% of the total cost of the Small Commercial Vehicle or Vehicles. You won’t find this anywhere else.
• You don’t need to have any prior experience for commercial transportation.

What are the eligibility factors?

People who can apply can be:

• Individuals
• Partnership firms
• Proprietorships
• One-person company
• Private and Public companies
• Trusts
• Limited Liability Partnership
• Hindu Undivided Family

Documents you’ll need:

• KYC Proof including ID and Address proof.
• Passport size photo
• Give links (individual and non-individual)
• Experience proof documents like driving license, current account statement and registration copy of owned commercial vehicle
• Income proof documents like bank statement of last 1 year, income tax return records, or audited financials for the past 2 years
• Fleet list, which is the list of all vehicles you own along with their supporting documents

IDFC First Bank - Types of loans

Types of Deposits you can get at IDFC First Bank

• Fixed deposit
• Recurring deposit
• Add funds to your account
• Tax saver deposit
  

Their benefits:

• Competitive interest rates
• Flexibility
• No penalties for senior citizens on early withdrawal
  

Types of loans

Personal loan

• Loan amount ranging from 1 Lakh to 40 Lakhs
• Paperless digital sanctions
• Loan tenure from 12 months to 84 months*
• Flexibility to make up to 40%* part payment
• ROI starting as low as 10.75%*
  

Consumer Durable Loan

• Flexible EMI
• Competitive interest rates
  

Home Loan

• Simple and hassle free loan processing with minimum turnaround time
• Loans up to 90% of cost of property based on eligibility
• Pre-approved loans available as per requirement with no hidden charges
• Term Loan secured against residential properties
  

Loan against property

• Flexible EMI
• Competitive interest rates
  

Pre-owned car loan

• Flexible EMI
• Competitive interest rates
  

Two-wheeler loan

• Flexible EMI
• Competitive interest rates
  

Commercial vehicle loan

• Flexible EMI
• Competitive interest rates
  

Equipment hypothecation loans

• Flexible EMI
• Competitive interest rates
  

Micro-enterprise loan

• Flexible EMI
• Competitive interest rates
  

Business loan

• Loan amount from Rs 3 Lakhs to Rs 75 Lakhs
• Loan Tenures from 1 to 5 years
• Facility to top-up existing loans
  

Loan for women

• Flexible EMI
• Competitive interest rates
  

Investments

Here are the investment options which you can get at IDFC First Bank:

• Mutual funds
• Gold bonds
• Investment linked insurance
• IDFC FIRST ZERODHA 3-in-1
  

Insurance

Here are the insurance options which you can get at IDFC First Bank:

• Travel insurance
• Home insurance
• Term insurance
• Health insurance
• Motor insurance
• Investment Linked Insurance
• Pradhan Mantri Insurance
  

FOREX Services

• Transfer Funds abroad from branch
• Transfer Funds abroad with Net Banking branch
• Transfer Funds to India

IDFC First Bank - Savings accounts up to 7% p.a

IDFC First Bank is a public Indian Banking company. It was formerly known as IDFC Bank before its merger with First Bank. The bank’s headquarters are in Mumbai. IDFC First Bank is a part of the IDFC group, which is an integrated infrastructure finance company. It began its operations on the 1st of October 2015. IDFC First got its universal banking license from the RBI in July 2015 and on 6th November it was listed on BSE and NSE.

Savings Accounts

Savings accounts up to 7% p.a

Savings accounts with Signature Card Benefits: Minimum balance Rs. 25000

• Rs. 250 voucher on account opening
• Rs. 500 voucher on adding beneficiary and fund transfer
• Rs. 250 voucher on registering on WhatsApp
• Cashback of Rs. 250 for first online or offline debit card transaction
• Voucher of Rs. 250 for booking FD of a minimum of Rs. 25000 and RD of minimum Rs. 5000
• Voucher of Rs. 250 for first UPI payment for a minimum of Rs. 1000
• Voucher of Rs. 250 for first bill payment using mobile app or net banking for a minimum of Rs. 100
• Voucher of Rs. 1000 for spending Rs. 20000 or more with debit card

Savings accounts with Classic Card Benefits: Minimum balance Rs. 10000

• Rs. 250 voucher for account successfully opening
• Rs. 250 voucher for booking FD of Rs. 25000 minimum and RD of Rs. 5000 minimum
• Rs. 500 voucher after adding beneficiary and fund transfer of Rs. 2000 minimum
• Rs. 250 voucher after first bill payment using mobile app or net banking of minimum Rs. 1000
• Rs. 250 voucher after first UPI payment of Rs. 1000 minimum
  

Features:

Savings Account With VISA Signature Card

• Free, unlimited ATM withdrawal
• Higher Personal accident coverage of 35 lakh
• Purchase protection of 1 lakh
• Higher lost card liability of 4 lakh
• Air accident cover of 1 Crore
• BookMyShow cashback of 250 per month
• Airport lounge access Twice in a quarter
• Higher daily cash withdrawal limit of 2 lakh, domestic ATM
• Higher daily purchase limit of 6 lakh, domestic

Savings Account With VISA Classic Card

• 5 Free ATM transactions per month at own and non-Bank ATMs
• Personal accident cover of 2 lakh
• Lost card liability of 50,000
• Daily cash withdrawal limit of 1 lakh from domestic ATM
• Daily purchase limit of 1.5 lakh domestic
  

Senior citizens Savings Account

Savings Account with signature card benefits- minimum balance Rs. 25000

Benefits:

• Get voucher of Rs.250 after Account Successfully Opened
• Get voucher of Rs.500 after Adding Beneficiary & do a Fund Transfer
• Get voucher of Rs.250 after Registering on WhatsApp Banking
• Get cashback of Upto Rs.250 for your First online/offline Debit Card transaction
• Get voucher of Rs.250 for Booking FD of min. Rs.25,000/
• Get voucher of Rs.250 for First UPI payment
• Get voucher of Rs.250 after your First Bill payment using Mobile app or Net banking
• Get voucher of Rs.1000 after Spend Rs. 20,000 or more with your Debit Card

Savings Account with classic card benefits- minimum balance Rs. 10000

Benefits:

• Rs. 250 voucher for account successfully opening
• Rs. 250 voucher for booking FD of Rs. 25000 minimum and RD of Rs. 5000 minimum
• Rs. 500 voucher after adding beneficiary and fund transfer of Rs. 2000 minimum
• Rs. 250 voucher after first bill payment using mobile app or net banking of minimum Rs. 1000
• Rs. 250 voucher after first UPI payment of Rs. 1000 minimum
  

Features:

Savings Account With VISA Signature Card

• Free, unlimited ATM withdrawal
• Higher Personal accident coverage of Rs.35 lakh
• Purchase protection of Rs.1 lakh
• Higher lost card liability of Rs.4 lakh
• Air accident cover of Rs.1 Crore
• BookMyShow cashback of Rs.250 per month
• Airport lounge access Twice in a quarter
• Higher daily cash withdrawal limit of Rs.2 lakh, domestic ATM
• Higher daily purchase limit of Rs.6 lakh, domestic

Savings Account With VISA Classic Card

• 5 Free ATM transactions per month at own and non-Bank ATMs
• Personal accident cover of Rs.2 lakh
• Lost card liability of Rs.50,000
• Daily cash withdrawal limit of Rs.1 lakh from domestic ATM
• Daily purchase limit of Rs.1.5 lakh domestic
  

NRI Savings Account upto 7% p.a

Features:

• Net banking and Mobile App access from anywhere around the world
• Attractive exchange rates on inward remittances
• Dedicated relationship manager
• All transactions possible from any geography
• Benefits-rich visa signature debit card on request
• Easy access mandate to account for family in India
  

Corporate Salary account

Get a corporate salary account for yourself or as a salary product of your company

IDFC First Bank - Apply for IDFC First Bank Credit Cards

IDFC First Bank is a public Indian Banking company. It was formerly known as

IDFC Bank before its merger with First Bank. The bank’s headquarters are in Mumbai. IDFC First Bank is a part of the IDFC group, which is an integrated infrastructure finance company. It began its operations on the 1st of October 2015. IDFC First got its universal banking license from the RBI in July 2015 and on 6th November it was listed on BSE and NSE.

Company information

Company details:

Founding date: October 2015
Headquarters: Mumbai
Products: Consumer banking, Home loans, Loans against property, Personal loans, Consumer Durable loans, Vehicle loans, Business loans, Micro Enterprise loans, Private banking, Wealth management, Investment banking, Corporate banking, Wholesale banking
Revenue: $46.79 billion as on Q3 FY20
Operating income: $6.82 billion as on Q3 FY20
Parent company: Infrastructure Development Finance Company

In 2014, the RBI gave IDFC Ltd. an in-principle approval to enter in the private sector. After this, IDFC Ltd. divested its assets and liabilities to form a new entity: the IDFC Bank. The bank was launched in November 2015. The bank began its operations on 19th October 2015 with a total of 23 branches in Madhya Pradesh, Mumbai, Delhi, Hyderabad, Kolkata, Bangalore, Chennai, Pune, and Ahmedabad. 15 branches were opened in areas having less than 10000 population.

IDFC Bank and Capital First merged in January 2018.

The bank’s business focus

IDFC First serves private and corporate customers in the country, including the infrastructure sector which IDFC has a specialization in since its very beginning. The bank aims to give services to the rural areas of the country too, as well as to the growing numbers of self-employed people. The bank’s operations are only within India.

Products

Credit Cards

FIRST Millennial Credit Card

• 10X Reward Points on all Spends above Rs.20,000
• 6X Reward Points on Online Spends
• 3X Reward Points on all Offline Spends
• Your reward points are not capped and they don’t expire, ever!
• 10X Rewards on all spends done on your Birthday
• 1X = 1 Reward Point per Rs. 100 spent | 1 Reward Point = 0.25
  

FIRST Classic Credit Card

• 10X Reward Points on all Spends above Rs.20,000
• 6X Reward Points on Online Spends
• 3X Reward Points on all Offline Spends
• Your reward points are not capped and they don’t expire, ever!
• 10X Rewards on all spends done on your Birthday
• 1X = 1 Reward Point per Rs. 100 spent | 1 Reward Point = 0.25
  

FIRST Select Card

• 10X Reward Points on all Spends above Rs.20,000
• 6X Reward Points on Online Spends
• 3X Reward Points on all Offline Spends
• Your reward points are not capped and they don’t expire, ever!
• 10X Rewards on all spends done on your Birthday
• 1X = 1 Reward Point per Rs. 100 spent | 1 Reward Point = 0.25
  

FIRST Wealth Card

• 10X Reward Points on all Spends above Rs. 20,000
• 6X Reward Points on Online Spends
• 3X Reward Points on all Offline Spends
• 10X Rewards on all spends done on your Birthday
• 1X = 1 Reward Point per Rs. 100 spent | 1 Reward Point = Rs. 0.25

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

What are the benefits of IDFC First Credit Card? - IDFC First Bank Credit Cards

Most people know that IDFC First offers only loans of various types. However, it is recently providing credit cards as well, credit cards which you can apply for only and receive at home! With IDFC First credit cards, you can get 10x reward points. As you know, the more reward points you accumulate, the more you can save up later, apart from buying things with the points. One of the best things about these cards, which is already making people excited over it, is that these credit cards have an interest rate of just 9% a year.

As if that’s not enough, you also get interest-free withdrawals from all ATM machines and no annual/joining fee for the card.

Interested in knowing more about IDFC First credit cards?

In this article, we shall learn about the features and benefits of these credit cards from IDFC First Bank.
 
What are the benefits of IDFC First Credit Card?

• They are lifetime free
• They have no annual fee and renewal fees
• Interest rate starts from 0.75% a month to a maximum of 9% a month.
• The foreign markup fee is 3.5% on all the cards
• There are no charges for redeeming reward points
• There is no Over Limit Fee
• There is no expiry date for your reward points earned from the credit cards
• There are no limits to earning reward points
• These credit cards give you free visit to railway lounges
  

Types of IDFC First Credit Cards

There are 4 types of IDFC First Credit cards. It’s better to learn about all of these first before picking or finalizing one. After all, you don’t want to go home happily with a new credit card only to learn later that another choice would have been better, do you?

The 4 types of IDFC First credit cards are:

1. IDFC First Millennia Credit Card
2. IDFC First Classic Credit Card
3. IDFC First Select Credit Card
4. IDFC First Wealth Credit Card
   

Features of IDFC First credit cards

IDFC First Millennia Credit Card

• Get a Gift Voucher of Rs.500 on spending Rs.15000 within 90 days from card issuance.
• Get 5% Cashback on your first EMI transaction done within 90 days from card set-up.
• Earn 10x Reward Points on all the transactions that are above Rs.20000.
• Spend online through this credit card and earn 6X Reward Points.
• Have a blast on your birthdays because you can earn 10X Reward Points on that day.
• Enjoy 25% Discount on Movie Tickets with a Maximum of Rs.100.
• Enjoy a 20% Discount at more than 1500 restaurants in India.
• Get a Discount of 15% at above 3000 Health and Wellness Outlets.
• Enjoy 4 Complimentary Visits to the Railway Lounges per quarter.
• Get a Cover of Rs.2 Lacs and Rs.25000 for Personal Accident and Lost Card Liability respectively.
• IDFC First Classic Credit Card
• Get a Gift Voucher of Rs.500 as a welcome benefit on spending Rs.15000 within 90 days from card set-up.
• Get a Cashback of 5% on your first EMI transaction done within 90 days from card issuance.
• Earn 10X Reward Points on all the transactions that are above Rs.20000 and on your Birthday.
• Spend online and earn 6X Reward Points and Spend offline and earn 3X reward points through this card.
• Get 4 Free Visits per quarter to the Railway Lounges through the IDFC First Bank Credit Card.
• Get free roadside assistance of Rs.1399.
• Enjoy Personal Accident Cover of Rs.2 Lacs and Lost Card Liability Cover of Rs.25000.
• Get a Fuel Surcharge Waiver of up to Rs.200 every month.

IDFC First Select Credit Card

• This card gives you a welcome give of a Voucher worth Rs.500 after you spend Rs.15000 in the first 90 days.
• Get a Cashback of 5% on your first EMI converted within 90 days from the card set-up date.
• Multiply your Reward Point 10 Times on your birthday and while spending Rs.20000 and above.
• Earn 6X and 3X reward points on online and offline spend respectively.
• Enjoy the Buy One Get One Free offer on movie tickets of up to Rs.250 per ticket twice a month.
• You can enjoy a fuel surcharge waiver of up to Rs.300 per month.
• Get Personal Accident Cover of Rs.5 Lacs and Lost Card Liability Cover of Rs.50000.
• Have free roadside assistance of Rs.1399.
• Get 4 Complimentary Visits per quarter to the Railway Lounges and Domestic Airport Lounges.
• Enjoy a 20% Discount at 1500+ Restaurants and 15% discount at over 3000 health and wellness outlets.
• Get a comprehensive Travel Insurance Cover of Rs.22500.

IDFC First Wealth Credit Card

• Enjoy a welcome give of a Voucher worth Rs.500 once you spend Rs.15000 in the first 90 days from the card issuance date.
• Get 5% Cashback on your first EMI converted within 90 days from the card set-up date.
• Enjoy 10X Reward Points on your birthday and on every spending of Rs.20000 and above.
• Earn 6X and 3X reward points on online and offline transactions respectively.
• Enjoy Complimentary Golf Rounds through the IDFC First Credit Card.
• Get the Buy One Get One Free offer on movie tickets of up to Rs.500 per ticket twice a month.
• Get a fuel surcharge waiver of up to Rs.400 per month.
• Have a Discount of 20% at 1500+ Restaurants and a discount of 15% at over 3000 health and wellness outlets.
• Enjoy 4 Complimentary Access to Domestic and International Airport Lounges and Spas every quarter.
• Get 4 Free Visits to the Railway Lounges per quarter.
• Get a Comprehensive Travel Insurance Cover of $1200.
• Have an Air Accident Cover of up to Rs.1 Crore and Lost Card Liability Cover of Rs.50000.
• Get a Personal Accident Cover of Rs.10 Lacs.
  

Documents needed to get IDFC First Bank Credit Cards

• Identity Proof:- Any one of the following- PAN Card, Aadhar Card, Voter I.D. Card, Passport, Driving License.
• Address Proof:- Any one of the following: Ration Card, Electricity Bill, Telephone Bill, Driving License, Passport, Voter I.D. Card, Last 2 Months Bank Statement.
• Income Proof:- Any one of the following: Form 16, Latest Salary Slips, Income Tax Return Documents, Audited Financial Document, Business Continuity Proof.
• Age Proof:- Any one of the following: Pass Certificate of 10th Standard, Passport, Birth Certificate, Voter I.D. Card.
  

Fees and other charges

• Joining fee: Lifetime free
• Renewal fee: Lifetime free
• Minimum interest rate: 0.75% per month or 9% per annum
• Maximum interest rate: 2.99% per month or 35.88% per annum
• Foreign markup fee: 3.5%
• Late payment fee: 15% of total amount due. Minimum of 100 and maximum of 1000
• International cash advance fee: Rs. 250
• Domestic cash advance fee: Rs. 250
• Fee for redemption of reward points: No fee
• Validity of reward points: Unlimited

IDFC First Education Loans - Apply OnLine IDFC First Education Loans

Education is an integral part of our lives. However, education is not becoming more and more expensive. The higher studies your child goes for, the more you have to plan to save, and pay up. This creates a huge problem, especially for the middle class onward who cannot afford to save that much and pays out of their own pocket. Thankfully, there are education loans to help you out. Banks like IDFC First offer education loans to help your kids pursue their dreams.

What is an education loan?

An education loan sponsors one’s education. Whether you want to study abroad or within the country, an education loan can make that possible. The main motive behind this type of credit is to allow people to follow their creams and careers, so that they do not have to sacrifice all of those just because of the want of money.

Education loans are of 4 types in India:

• Undergraduate education loan: These are for students who have done their secondary education and are now looking to take on higher studies to the undergraduate level.  
• Post graduate education loan: This is for those who wish to take PG or Post Graduate courses after taking their graduation course.
• Parents availing education loan: These are loans taken by parents for the education of their children. These are unsecured loans. These are not just for graduate and PG courses, but also for elementary and higher secondary courses.
• Career growth education loan: These are for those which wish to take training, certifications and courses to boost their career.

IDFC Bank Eligibility for education loans

Applicant’s age needs to be 35 years maximum (for non-employed) and 45 years maximum (for working people).

Repayment period-

• Tenure of loan includes duration of study, grace period or moratorium after study and the repayment period
• For courses within India, the repayment tenure is 15 years maximum after the start of repayment period
• For courses abroad, the repayment tenure is 15 years maximum after the start of repayment period
  

Maximum loan amount is: 80 lakhs to 1.5 crore for courses in India, aboard, at IIMs, IITs and ISBs.

Who can apply?

• An Indian National having secured admission to professional/technical courses in recognized institutions.
• Permanent employees who are employed for not less than three years with any organization and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute.
• Frequency of repayment
• Repayment starts generally 1 year after the end of the course/ 6 months after getting a job, whichever comes earlier.
• Interest repayment starts after disbursement of the loan’s first installment
  

Get IDFC First Education Loan in easy 4 stages

• Search of the appropriate bank
• Complete documentation and application form filing
• Start of the loan process
• Loan is disbursed
  

Education loan depends on:

• Academic record
• Co-borrower’s credit score
• Collateral provided
• College/Institute
  

Documents you’ll need

• ID proof: Aadhaar card, passport, driver’s license, and etc.
• Residential proof: copies of utility bills, gas bills etc.
• Mortgage document
• Last 6 months bank account statement of all banks where applicant has account
• Guarantor form
• Institution detail including admission letter from the institution of study, fees structure, mark sheet or passing certificate of SSC, HSC and other degree courses
  

Benefits of taking IDFC First Education loans

• Get up to 90% of the education cost covered
• Tuition fees as well as hostel expenses
• Exam, library, and lab fees if applicable
• Any refundable fees paid to the Institute
• Cost of uniforms, books and other essentials
• Travelling expenses
• 0.5% additional discount for female students
• Possibility of getting 1% interest rate cut if you decide to start paying during moratorium

IDFC First Bank Home Loan - IDFC First Bank Home Loan Eligibility

Looking for a home loan but none of what the other lenders are giving is suiting you? Or maybe IDFC First is your first choice which you’re starting your search with? Either way, you will find all the information about the bank’s Home Loan here.

IDFC First Bank Home Loan Features

• Hassle-free and simple loan processing and minimum loan turnaround time
• Get home loans till 90% of your property’s value
• Get pre-approved loans for faster disbursal and acceptance
• Get term loans against residential properties
• Get loans between 5 lakh and 5 crore
• The maximum tenure for salaried people is 360 months and for self-employed people it is 300 months
• Get subsidy of 2.67 lakh under the PMAY Credit Linked Subsidy Scheme

Properties you can pledge are:

• Ready property
• Balance transfer
• Home extension and renovation
• Under construction property
• Plot purchase
• Composite Loan
• Self-construction
• Top-up
  

IDFC First Bank Home Loan Eligibility

• Sole proprietors
• Partnership firms
• Salaried people
• Self-employed people
• Micro, small and medium sized enterprises
• Good credit ratings as given by a credit bureau
• Minimum age is 23 when taking the loan and 70 during time of loan maturity or during retirement
• Clear credit history
• If self employed, experience needs to be 3 years. For salaried individuals, this is 3 years as well

IDFC First Bank Home Loan Documents

General documents for all:

• Photo Id (any one): Passport, Driver license, Voter ID, PAN Card, Aadhar card
• Address proof (any one self-attested): Drivers license, Ration card, passport, electricity bill, bank account statement, telephone bill, Aadhar card, Property purchase agreement
• Income proof (any one self-attested): 2 month’s salary slip, Last 6 month’s bank statement showing salary credit, Last year ITR showing income or Form 16
  

For salaried individual

• Repayment track with loan sanction
• Last 2 month’s salary certificate or salary slip
• Latest IRT with income calculation
• Last 6 month’s bank statement showing salary amounts withdrawn
  

For self-employed individual

• IT returns with income computation
• Balance sheet with profit and loss account and schedule
• Sales tax or VAT return for months not covered
• Last 6 month’s credit card statement
• Copy of contract border as well as form 16A
• Last 6 month’s bank statements of company’s business account and of individual’s saving account
• Repayment track
  

Business proof

• Shop establishment certificate
• Paid electricity bill not older than 90 days from time of loan application
• VAT return
• Property allotment letter
• Property registered deed
• Trade license
• Telephone bill not 90 days before loan application
• Registered rent deed
• Property papers
• Updated bank passbook or bank statements

Property proof

• NOC from the concerned society and related documents
• Possession letter
• Copy of original sale deed
  

How to apply for IDFC First Bank Home Loan

• Fill up the online form at the bank’s site and expect a call back. You can visit the nearest branch as well
• Submit your documents
• Wait for property application verification process
• Get loan disbursed

IDFC First Bank Loan Against Property - Loan Against Property

IDFC First Bank gives you attractive Loan against property deals. There are many benefits in taking this service from them.

Benefits

• Get loan ranging from Rs. 5 lakh to Rs. 10 crore against your property
• Get as much as 90% of your property’s value
• Get loan tenure of as long as 20 years
  

Loan against property features

• Get a loan for all your needs: Use this loan for anything from boosting your business or for personal needs.
• Consideration is given to your property’s market value: Get maximum value for your property, of as much as 90%
• Enjoy flexible repayment options: You’ll never be under pressure of paying EMIs as you can repay according to your cash flow. There are flexible part payment options.
  

IDFC Loan against property options

• Loan against property to SMEs: These are against residential and commercial properties and are aimed at small to medium enterprises.
• Loans for property: Use this to buy residential and commercial properties.
• Loan against plots: These are for buying solely residential plots.
• Lease Rental Discounting: You can utilize rental income to get the loan against property.
  

IDFC First Bank Loan against property

• Salaried and Self
• Employed Professionals
• Sole Proprietors
• Partnership Firms
• LLP and Private Limited Co.
• Minimum age requirement is 23 years at the time of taking the loan and maximum 70 years or retirement at the time of maturity Good credit rating score in credit bureau
• Minimum 2 years in business in an industry with a positive net worth (for Self-employed) or 5 years’ work experience (for salaried individuals)
• Micro, Small and Medium Enterprises
• Clean record in terms of past loans and statutory payments.

Process of getting IDFC First Loan against property

• Apply for the loan online at the bank’s website
• Speak to their Relationship Manager
• Application verification by the bank
• Loan amount disbursed to your account
  

Documents you’ll need for getting IDFC First Loan against property

General documents for all:

• Photo Id (any one): Passport, Driver license, Voter ID, PAN Card, Aadhar card
• Address proof (any one self-attested): Driver’s license, Ration card, passport, electricity bill, bank account statement, telephone bill, Aadhar card, Property purchase agreement
• Income proof (any one self-attested): 2 month’s salary slip, Last 6 month’s bank statement showing salary credit, Last year ITR showing income or Form 16

Property proof

• NOC from the concerned society and related documents
• Possession letter
• Copy of original sale deed