Loan Details

Interest Rate

10.49% onwards

Processing Fee

Upto 1.50%



1% of loan amount


Up to 60 Months

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
IDFC FIRST Bank Personal Loan Details

a. Age – For Salaried - 23-60 years

For Self-employed – 25-65 years

b. Credit score: 650 or above

c. Employment Type: Salaried and self-employed

d. Minimum net income (monthly): Rs 25,000

e. Work experience: For salaried- 3 years of job stability

For self-employed- 3 years of business stability

All the applicants are required to submit the below-listed documents with IDFC FIRST Bank

  • Any valid digital ID proof for KYC
  • 3 months’ bank statement
  • Net Banking or Debit Card details to set up e-Mandate
  • eSign/eStamp for faster disbursal

Self-employed candidates are required to submit the documents listed below along with the ones mentioned above –

  • Proof of business establishment
  • Address proof of Business
  • Income Tax Returns
  • Proof of Business continuity of the past 3 years
  • Copy of bank statement of the past 90 days
  • Proof of earnings of the last 6 months

Salaried applicants are required to upload a copy of the following documents besides along with the ones mentioned above -

  • Last 3 months of bank statement showing your income or salary details
  • Copy of salary slip of past 90 days
  • Previous 2 years’ Form 16
  • Employer’s ID
  • Proof of work experience

Identity Proof (for all borrowers)

● Driving License

● Aadhar Card

● Valid Passport

● PAN Card

● Voter ID

Proof of Residential Address (for all borrowers)

● Utility Bill

● Approved Building Plan

● Valid Passport

● Voter ID

● Registered Rent Agreement

Birth Date Proof (for all borrowers)

● Driving License

● Valid Passport

● Voter ID

● Aadhar Card

Income documents (for salaried borrowers)

● Last 3 months Pay Slip.

● Form 16 of the past 2 years

 ● Bank statement of past 6 months showcasing EMI debit/ salary credit

The loan verification proceeds in the following stages:

1. Fill the IDFC Personal Loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at IDFC FIRST Bank verify the documents and the details there. They may visit the property if necessary.

4. Once your application for a personal loan is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

IDFC FIRST Bank provides affordable and convenient personal loans with EMIs as low as Rs. 2,149 per lakh for a 60-month term and a rate of interest as low as 10.49%. The interest rate is fixed and charged on a monthly basis. It is calculated on the amount overdue, i.e., the amount to be repaid after the EMI and interest are paid.

Other Charges for IDFC First Bank Personal Loan


Up to Rs.


Repayment instrument swap charges

Rs. 500

For each presentation dishonoured.

Statement of Account (Adhoc/Duplicate)

Rs. 500

per change request

Duplicate No Objection certificate / No Dues Certificate

Rs. 500

Cancellation/Rebooking Charges

1% of the loan amount + interest from the disbursal date till the receipt of the cancellation

Per request, in addition to Bank's issued letter

Stamping Charges

As per actuals

Physical Repayment Schedule

Rs. 500

Document retrieval charges (per retrieval)

Rs. 500

EMI Pick up/ Collection Charges

Rs. 350

Foreclosure charges

Up to 5% of the loan amount

After paying 12 or more EMIs, the loan may be foreclosed or prepaid at any point within the loan

EMI bounce charges

Rs. 400

Both fees/charges must be charged in full, except for any relevant goods and services tax (GST). The
must be prepaid, foreclosed, or partially paid from the customer’s assets. IDFC FIRST Bank will
the Facilities accounting code, which will bind on the customer. If the customer is an IDFC
Bank-related individual, the customer is responsible for paying any relevant GST. The
Schedule of Charges is subject to modification by the Bank from time to time and will be revised
on the
Bank’s official website.