- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
- Age: 25-60
- Credit score: 700+
- Employment type: Salaried
- Minimum net income (monthly): Rs 35,000 and only metro
- Work experience: a) For salaried- 2 year of employment
and at least 6 months in the current organisation
All borrowers have to submit the following documents:
- Filled in application form
- Passport size photographs
- Identity and Address Proof: Aadhar Number / Registered rental agreement (if applicable)
- Latest bank statements or passbook photocopy of salary account for the past 3 months
- Salary slip copies of past 3 months
Not: Aadhar linked pre-filled application forms get fast approval, within 5 minutes
The loan verification proceeds in the following stages:
1. Fill the IIFL Personal Loan application form and upload it on the official website. Submit soft copies of all the relevant documents for online verification. It can be quickly done by signing up on Apnapaisa.com.
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 IIFL verify the documents. For online application, IIFL uses eKYC process based on online Aadhar authentication for verification.
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, sanctioned amount, charges, and penalties.
The interest rates offered by IIFL for personal loan start from 16% p.a. Each applicant is assigned an interest rate considering his/her application and repayment capacity.