IDFC First offers personal loans up to Rs. 1 Cr. with interest rates starting at 10.75% and repayment tenure of 1 to 5 years for your urgent monetary requirements. IDFC's First personal loan process is paperless, online, and thus hassle-free. You can use the funds from this loan for any legitimate financial need such as buying household goods, payment offers, weddings, travel, house renovation, etc.
IDFC Bank interest rates start at 10.75%.
Completely digital, paperless online process.
Balance transfer of existing Personal Loans and Credit Cards at affordable rates.
Flexible tenure up to 60 months
Processing Fees of up to 3.5% (To be deducted from the loan amount at the time of loan disbursal).
Documentation charges = Rs. 500
Amortization Schedule charges = Rs. 200
Foreclosure / Prepayment charges - 5% on principal outstanding. (Prepayment of the loan is possible anytime during the loan tenure after payment of 6 or more EMIs)
EMI bounce charges – Rs. 400
For example, if you take a loan of Rs. 3 lakhs at the rate of 10.75% with a repayment tenure of 3 years, your EMI will be Rs. 9,786. The total payable amount at the end of 3 years would be Rs. 3,52,296. Therefore, you are paying a total interest amount to the tune of Rs 52,296. This, however, excludes other applicable charges.