IDFC FIRST Bank Personal Loan Eligibility Criteria & Required Documents Loan benefits/ How to apply IDFC First Bank Loan
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IDFC FIRST Bank provides Personal Loans for both self-employed and salaried individuals. In order to determine your Personal Loan eligibility, you have to meet certain parameters. IDFC First establish eligibility by simply asking a few questions through a form that is available on our website and mobile app. IDFC FIRST Bank will also base your eligibility on your credit score and your existing liabilities, which will be used to ascertain your credit worthiness.
IDFC FIRST Bank (Erstwhile IDFC Bank and Erstwhile Capital First), MyFIRST Loans app eases most of your servicing needs such as loan account details, loan statements, raise customer service requests. You can easily see outstanding dues if any, & such outstanding EMI or over dues can be paid instantly using MyFIRST Loans app.
IDFC
First Bank Instant Personal Loan Features:
A.
Loan starting from 20K to 40 Lakhs
B.
Loan Tenure Options 12 months to 60 months
C.
Interest Ranging 12% to 24%
D. Processing Fees (appx. 3%)
E. Paperless digital sanctions
F. ROI starting as low as 10.75%*
G. Flexibility to make up to 40%* part payment
IDFC
First Bank Loan Eligibility:
1.
Indian Citizen
2.
Age above 23 yrs.
3. Within serviceable location
IDFC
First Bank Loan APR Example:
For loan amount of 3.5 lakhs @16% interest for 3 years, the EMI would amount to Rs. 12,566 and consolidated charges would be Rs. 10,500.
IDFC
First Bank Loan Type:
1. Consumer Durable Loan:
(short term loans for <1 year, no prepayment or foreclosure charges): Apply for EMI loans without a credit card with 0% interest & low down payment with IDFC FIRST Bank.
2. Two Wheeler Loan:
Own your very own bike or scooter without any hassle and instantly with IDFC FIRST Bank
3. Home Loan:
Looking to Finance your Dream Home? IDFC FIRST Bank provides funds up to 25 year terms with quick loan processing
4. Business Loan:
Apply for MSME loan from IDFC FIRST Bank to meet your short term working capital needs, or long term loans
5. Loan Against Property:
IDFC FIRST Bank’s Loan against Property allows you to borrow by mortgaging your property as collateral
6. Pre-Owned Car Loan:
Your dream of owning a car can now become a reality with IDFC FIRST Bank’s quick & easy finance
7. Easy Buy EMI Card:
The easiest way to get an Easy Buy EMI Card. Quick Application, Instant Approval.
IDFC FIRST Bank are committed to serve you & will always strive to
maintain the trust you have placed in us. Kindly provide us feedback &
point out issues if any.
Documents Required for Personal Loan
IDFC
FIRST Bank provides Personal Loans for both self-employed and salaried
individuals based on the assessment of following documents:
1. PAN/Form 60
2. Address Proof ( Self-attested copy of any one document* )
- Valid Passport
- Aadhaar Card
- Voter’s Identity Card
- Driving License
- Job Card issued by NREGA
- National Population Register
3. Additional Address Proof ( Self-attested copy of any one document* )
- Registered Sales Deed
- Latest Bank Statement
- Latest Passbook
- Rent Agreement
- Utility Bill
- Property or Municipal Tax Receipt
- Pension or Family Pension Payment Orders
(PPOs)
- Letter of Allotment of Accommodation from Employer
4.Income Proof ( Self-attested copy of relevant documents* )
·
For Salaried:
Latest 3 months/6 months Bank Statement (dependent on scheme) showing salary
credits
For Self Employed: Latest 3 months Bank Statement
showing 3 credits & 3 debits in each month
Latest 3 months’ Salary Slip (dependent on scheme/Bank Statement)
5. Business proof ( Self-attested copy of relevant documents* )
- Municipal tax bill
- Gram Panchayat Certificate
- Shop & Establishment Certificate
- GST Certificate
- ITR with Computation of income of Last 2 years
- Udyog Aadhaar
- FSSAI license
- SSI Certificate
- Utility Bill
6. Balance Transfer ( Self-attested copy of relevant documents* )
- Repayment Schedule
- Loan Foreclosure Letter
- Statement of Accounts
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