Upto Rs.40 Lakh – IDFC First Bank Personal Loan | Apply Now

IDFC Bank is also known as IDFC First Bank which is a part of IDFC, a private sector bank. This bank was incorporated in October 2015 after getting verified by RBI-Reserve Bank of India. Currently, IDFC has over 600 branches in India.

In this post, I’ll cover how to avail Personal Loan in IDFC, its details, features, eligibility, and many more.

Loan Details

Sl. No.CategoryData
1Loan amountUp to 40 Lakhs
2TenureUp to 5 years
3Rate interest10.4-20% (for salaried), 19-23% (for self-employed)
4Processing charge3.5%
5Lowest EMIRs 1,686 per Lakhs
6Cancellation charge1% from loan + interest
7Minimum Age23 years
8Re-payment feesRs 500
9EMI pick-up feeRs 350
10Interest Overdue charge2% of the EMI that is unpaid

Steps to apply for personal loan at IDFC

Step-1: Complete the online application from official website by entering your personal details correctly.

Step-2: Relationship manager at IDFC will book and fix an appointment to collect your relevant documents.

Step-3: After submission of documents, verifying all of them will be done by IDFC.

Step-4: If after seeing your application and documents, the bank is satisfied then they’ll approve your personal loan and the amount of loan will be disbursed into your bank account.


  • Pre-approved personal loan facility
  • Repayment tenure is flexible till 5 years or 60 months
  • Paperless procedure
  • Attractive loan amount up to 40 Lakhs
  • Lowest EMIs

Types of IDFC Personal loan

There exist various types of personal loans at IDFC and they are mentioned as:

  1. For weddings
    • Help for marriage expense
    • Loan amount: Up to 40 Lakhs
  2. For Emergency
    • Help during any type of emergencies
    • Total paperless process
    • Tenure: Up to 5 years
    • Loan amount: Up to 40 Lakhs
  3. For Travel
    • Help financially for travel expense
    • Tenure: 5 years
    • Loan amount: Up to 40 Lakhs
  4. For Transfer
    • Help in transferring your existing personal loan to any other banks
    • Tenure: 6 months to 5 years

Eligibility Criteria

Eligibility criteria are of two types of personal loan at IDFC Bank. These criteria are as follows:

IDFC For Salaried applicants

  • Age: 23 years or above
  • Income: Rs 20,000 per month or more

For self-employed or Business applicants

  • Age: 25 years or above
  • Work experience: Minimum 3 years
  • Accept the re-payment through his/her savings account

Required Documentation

Documents that are required to verify also are of 2 types based on the profession of a person same as eligibility. They are:

IDFC For Salaried applicants

  1. Identity proof (Passport/Aadhar card/Driving license)
  2. Residential proof (Voter ID/Ration card/Passport)
  3. Income proof (Income slips)
  4. Bank statements (past 3 or 6 months)
  5. Passport sized photographs

For Self-employed or Business applicants

  1. Identity proof (Passport/Aadhar card/Driving license)
  2. Residential proof (Voter ID/Ration card/Passport)
  3. Income proof (ITR/Bank statements)
  4. Certificate of practice/Shop act license/Sales Tax
  5. Municipal Tax Bill/GST proof certificate
  6. Passport sized photographs

Comparison of IDFC Bank with other banks

Sl. No.Bank NameLoan amountInterest rates
1AxisUp to 15 Lakhs12-21%
2HDFCUp to 25 Lakhs10.25%
3SBIUp to 20 Lakhs1.5%
4BOIUp to 10 Lakhs8.35-10.35%
5BajajUp to 25 Lakhs13%

Check Status

You can instantly check the status of your IDFC personal loan by clicking on the following button:

Contact Details

IDFC Customer care number:  1860-500-9900

Toll-free number: 1800 419 4332

Mail-id: Banker@Idfcfirstbank.com or Customer.Care@Capitalfirst.Com


1]. How much time IDFC takes for a personal loan approval?

IDFC take up to 5 working days to completely approve your application of personal loan.

2]. When can I expect the due of my personal loan EMI?

Every 2nd or 5th of the month is the time for EMI dues.

3]. Do I need to visit IDFC bank branch physically for any procedure?

No, IDFC Bank’s services are totally digital.

4]. Am I able to cancel my personal loan application at IDFC?

Yes, you can cancel it if not needed. You can cancel it by calling customer care or mailing the bank.

5]. Do I get benefit in my personal loan application if I have an existing salary account at IDFC?

Yes, the customers who have their existing salary account and are asking for personal loans, IDFC charges them less for procedure. In other words, processing fees are lower.

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