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IDFC First Personal Loan Interest Rates from 10.99% p.a*

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Compare IDFC First Personal Loan Interest rate Vs others
Personal Loan Interest Rates 2025
Institution Interest Rates
HDFC Bank 10.85% – 24.00%
Axis Bank 11% – 24.00%
Bandhan Bank 11.90% Onwards
ICICI Bank 10.85% – 16.25%
DBS Bank 10.99% – 24.00%
Bank of Baroda 11.05% – 18.75%
SBI 11.45% – 14.85%
IndusInd Bank 10.49% – 24.00%
Yes Bank 11.25% – 21.00%
Standard Chartered 11.50% – 24.00%
IDFC First 10.99% – 23.99%
Kotak Mahindra Bank 10.99% – 24.00%
PNB 11.40% – 17.95%
Indian Bank 10.90% – 24.00%

IDFC First Personal Loan Interest Rates

  • Maintain a High Credit Score: Regularly monitor and improve your credit score to 750 or above.
  • Apply During Promotions: Banks often offer lower rates during festive seasons or special campaigns.
  • Opt for a Shorter Tenure: Choose a shorter loan tenure to get favorable rates.
  • Negotiate as an Existing Customer: Leverage your relationship with IDFC FIRST Bank to negotiate better terms.
  • Compare Offers: Use loan comparison tools to find the best rates available.

Factors That Drive IDFC FIRST Personal Loan Interest Rates

FactorImpact on Interest Rate
Credit ScoreA score of 750+ often ensures lower interest rates.
Income LevelHigher income increases creditworthiness, leading to lower rates.
Employment StabilitySalaried individuals with stable jobs get better rates.
Existing DebtHigh debt-to-income ratio may lead to higher interest rates.
Relationship with BankExisting customers may get preferential rates.

How to Get the Best Interest Rate on IDFC FIRST Personal Loans

  • Maintain a High Credit Score: Ensure your credit score is above 750 by paying existing debts on time.
  • Choose a Short Tenure: Shorter repayment tenures reduce the bank’s risk and may result in better rates.
  • Provide Accurate Documentation: Submit all required documents promptly and accurately to avoid delays or higher rates.
  • Negotiate with SBI: Existing customers with a good banking relationship can negotiate for lower rates.
  • Apply During Festive Offers: SBI offers special interest rates during festive seasons.

IDFC FIRST Personal Loan EMI Calculator and Example

An EMI Calculator is a tool that helps you estimate the monthly repayment (EMI) for your personal loan based on the loan amount, interest rate, and tenure. For IDFC FIRST Bank, the interest rate starts at 10.99% per annum, and you can borrow up to ₹40 Lakhs.

Here’s an example calculation

Loan AmountInterest RateTenure (Months)EMITotal Interest PayableTotal Payment (Principal + Interest)
₹5,00,00010.99% p.a.60₹10,869₹1,52,140₹6,52,140

Types of Personal Loans from IDFC FIRST

Type of LoanPurposeFeatures
Wedding LoanTo fund wedding expensesFlexible repayment and quick approval
Medical LoanFor medical emergenciesInstant disbursal and minimal documentation
Home Renovation LoanRenovate or upgrade your homeHigh-value loans for property improvements
Travel LoanPlan domestic or international tripsLow interest and hassle-free process
Debt Consolidation LoanConsolidate multiple debtsPay off existing loans with a single EMI

FAQs for IDFC FIRST Personal Loan Interest Rates

1. What is the minimum interest rate for IDFC FIRST personal loans?

The interest rate starts at 10.99% per annum, depending on your credit profile and loan amount.

2. How can I lower my interest rate?

Maintain a high credit score, choose shorter tenures, and apply during special promotions to secure better rates.

3. What is the maximum loan amount I can borrow?

You can borrow up to ₹40 Lakhs from IDFC FIRST Bank for personal loans.

4. Are there any additional charges apart from interest?

Yes, processing fees (up to 2%), prepayment charges, and late payment penalties may apply.

5. How quickly is the loan disbursed?

With minimal documentation and a quick approval process, funds can be disbursed within 24-48 hours.

Personal Loans by Bank