IDFC Personal Loan – Check Eligibility & Interest Rates Online

Facing a short-term cash crunch or an emergency? Apply for IDFC personal loan online and get the necessary funds for a variety of personal needs. Headquartered in Mumbai, IDFC is one of the reputed Indian banks. Operational since October of 2015, this integrated infrastructure finance company has numerous products and services to offer. The IDFC personal loans are highly popular among employed and self-employed individuals from different corners of the country. If you are looking for an instant personal loan to tide over a financial crisis, Loan Sumo will help you get the best offers with competitive interest rates and flexible repayment terms.

IDFC personal loan online – quick loan from a trusted source

Do you struggle to stick to a budget? Do you often spend more than you make in a month? Sometimes, no matter how much you try to be frugal, life throws urgent expenses and emergencies your way. It not only disrupts your plans, but it also creates low cash flow issues. If you are constantly plagued by the lack of money, Loan Sumo can lend you a helping hand! Being an online lending platform, we have the resources to get you quick online cash loans. However, if you need a substantial amount of money, getting a personal loan would make more sense.

IDFC personal loan online application makes it super easy to obtain personal loans without having to visit the bank’s branch. You do not have to stand in a long queue or wait for hours to submit your application. Unlike regular personal loans that take forever in terms of processing and approval, IDFC personal loans are fast. If you meet the eligibility criteria, your application may get approved in a matter of days! When you need money quickly, this particular loan product can fit your needs. If you have never applied for a personal loan online before, try Loan Sumo. With our assistance, your chances of getting the loan will increase.

Features and benefits of IDFC personal loans:

  • Both salaried and self-employed individuals can apply for the IDFC personal loan online.
  • Depending on your income, eligibility and repayment capacity, you may be able to borrow anywhere from Rs. 50,000 to Rs. 20 lakhs.
  • These are unsecured personal loans. Therefore, you do not need to put your assets or property at risk by putting the same as collateral. You also do not need to pay a security deposit.
  • The simple online application saves you time and allows you to apply right from the comfort of your home.
  • IDFC personal loans have some of the most competitive interest rates and flexible repayment terms.
  • Unlike business loans or home loans that are designed for a specific purpose, personal loans are versatile. You can apply for an IDFC personal loan online for any number of reasons. Medical emergency, child’s education, wedding, vacation, purchase of new appliances or gadgets, and home improvement are some of the common reasons for borrowing personal loans.

Debt consolidation and personal top up

You can use the IDFC personal loan to consolidate your debts and restructure your monthly EMIs. If you have multiple high-interest credit cards or loan accounts, you can combine them and pay them off at once with the IDFC personal loan. It will eliminate the hassle of remembering different due dates and dealing with multiple lenders. After consolidating your debts, you will only have to focus on repaying the IDFC personal loan on time. A personal loan top up, on the other hand, is an additional loan offered on an existing loan account in the event of a balance transfer. IDFC Bank provides top-ups at attractive interest rates to borrowers with excellent past loan performance.

IDFC personal loan online – Eligibility and interest rates

Have you decided to go for the IDFC personal loan online? Before you submit your application, you should find out if you meet the eligibility criteria. Having good credit score is mandatory for all borrowers. If you do not know your credit rating, try the free CIBIL score checkers. On the other hand, if you have bad or no credit, it would be best to explore your options in bad credit personal loans. You can try the IDFC personal loan once your credit rating goes up a bit. Your credit rating and credit history also determine the interest rates and charges that you are going to get.

That is why it is crucial that you check eligibility & interest rates online before applying. Below you will find a quick overview of the rates that should help you carry out a quick calculation. Once you have an idea of the overall cost of the loan, you can plan the monthly EMIs and repayment accordingly.

For salaried

For self-employed

Loan amount Rs. 50,000 to Rs. 20 lakhs Rs. 3 lakhs to Rs. 40 lakhs
Tenure 3 months to 5 years 6 months to 5 years
Interest rate 11.5% – 13.5% 11.5% – 13.5%
Processing fee Up to 2% Up to 2%
Pre-closure charges Up to 2% to 2.5% Up to 2% to 2.5%
Part prepayment charges Only allowed after 3 instalments Not allowed