Looking for a personal loan with flexibility, fast approval, and no company listing headache? IDFC Bank brings you an easy and 100% digital personal loan experience. Here’s everything you need to know in a simple format:
💰 Loan Amount You Can Get
- Up to ₹25 Lakhs for salaried individuals working in:
- Private Sector
- Government Jobs
- Public Sector Units
- Schools, Colleges, Hospitals
- Trusts and Societies
- Up to ₹10 Lakhs for employees in proprietorship or partnership firms
(Company must have annual turnover above ₹5 Crores) - Up to ₹6 Lakhs for new-to-credit (NTC) customers with no CIBIL score (-1)
👨💼 Eligibility Criteria
- Minimum Net Take Home Salary: ₹25,001 per month
- CIBIL Score Accepted: From -1 to 200 and 675+
- Age: 22 years to 60 years (at loan maturity)
📆 Repayment Tenure
- Flexible repayment period of up to 72 months (6 years)
📊 How Eligibility is Calculated
You can qualify based on either:
- FOIR (Fixed Obligations to Income Ratio): Up to 72%
- Multiplier Method: 20 times your monthly salary
📈 Rate of Interest (ROI)
- Interest rate ranges between 13.00% to 18.00%
- Final rate depends on your internal APP score
🔄 Balance Transfer (BT) Option
- You can transfer up to 5 Personal Loans and 5 Credit Cards
🧾 Address Proof Documents
- OVD (Officially Valid Documents) are accepted
- If not available, Electricity Bill, Passport, or Landline Bill are also accepted
💸 Extra Income? No Problem!
IDFC Bank also considers other income sources such as:
- Incentives
- Bonuses
- Pension
- Rental Income
🏢 Company Category Requirement
- No company category or grade required
- Your employer must just be registered with MCA for at least 1 year
💻 100% Digital Loan Process
- From application to disbursal, everything happens online
- Your loan amount, interest rate, and eligibility are calculated using an internal app score
✨ Final Thoughts
Whether you’re salaried in a well-known company or a startup, IDFC Bank makes getting a personal loan smooth and easy. No complex paperwork, flexible limits, and a transparent digital journey!
Ready to apply? Just check your salary and documents — and you’re good to go with IDFC!
