IDFC First Bank Personal Loan of 1 Lakh

IDFC First Bank personal loan 1 lakh offers competitive interest rates tailored to diverse needs. This loan comes with a flexible tenure and has no hidden charges. IDFC First Bank’s commitment to a hassle-free experience makes it a convenient choice for immediate financial requirements.

Personal Loan Options for 1 Lakh in IDFC First Bank

Here is the detailed overview of personal loan options for IDFC First Bank personal loan 1 lakh:

Features of Bank 1 Lakh Personal Loan

When considering a 1 Lakh Personal Loan from IDFC First Bank, there are several features that you may find beneficial. Here are some key features:

1. Competitive Interest Rates: IDFC First Bank offers a competitive 1 lakh loan interest rate starting from 12.5% annually. The actual rate may vary based on factors such as creditworthiness, income, and tenure.
2. Quick Disbursal: The bank boasts a contactless process, and you may get your loan disbursed within 1 working hour. This ensures quick access to funds when you need them.
3. Contactless Process: The loan application and approval process is designed to be contactless. There are no physical meetings or document signings required, making it a convenient option.
4. Top-up Facility: Existing customers may have the option for a top-up loan, allowing them to borrow additional funds on top of their existing personal loan. This feature can be beneficial for handling additional financial requirements.
5. No Foreclosure Charges within 6 Months: IDFC First Bank allows you to foreclose your personal loan without incurring any charges if done within 6 months from the loan disbursement date.

Can I Get a 1 Lakh Personal Loan Instantly From IDFC First Bank?

IDFC First Bank offers the convenience of instant personal loans, providing a swift, paperless process with e-approval within 30 minutes. With a contactless approach and no income documents required, you may get a 1 Lakh personal loan quickly. However, the actual disbursal time can vary based on verification processes.

What Is the EMI for a 1 Lakh Loan?

The EMI for a 1 Lakh loan depends on various factors, including the interest rate and tenure. Using the IDFC First Bank 1 lakh personal loan EMI Calculator, you can also estimate your monthly EMI. For example, at an interest rate of 12.5% and a 2-year tenure, the approximate EMI would be around Rs. 4,478.

Eligibility Criteria 1 Lakh Loan in IDFC First Bank

1 lakh personal loan eligibility IDFC First Bank criteria include:

• Salaried Individuals:
• Minimum age: 23 years
• Maximum age: 58 years
• Regular source of income
• Self-employed Individuals:
• Minimum age: 28 years
• Maximum age: 68 years
• Business existence of at least 3 years
• Positive Profit after Tax (PAT) for the last 2 years

Documents Required 1 Lakh IDFC First Bank Loan

1 lakh personal loan document IDFC First Bank include:

Proof of Identity:

• Aadhar Card
• Passport
• PAN Card

Proof of Address:

• Aadhar Card
• Utility Bills
• Passport

Proof of Income:

• For Salaried: Last 3/6 months bank statements, salary slips
• For Self-employed: Income Tax Returns, balance sheet, bank statements.

Proof of Business (for self-employed):

• Qualification Certificate
• Shop Act License
• GST Certificate, etc.

How to Apply for a 1 Lakh Personal Loan From Urban Money?

To apply for an instant 1 lakh loan IDFC First Bank from Urban Money, follow these steps:

• Online Application:

1. Visit the Website: Go to Urban Money’s official website.
2. Navigate to Personal Loans Section: Find and click on the section related to personal loans.
3. Fill out the Application Form: Fill online application form with accurate details. Provide information about your personal, financial, and employment details.
4. Submit Documents: Upload the required documents and any other documents Urban Money may specify.
5. Credit Check: Urban Money will conduct a credit check to assess your creditworthiness.
6. Loan Offer: Once your application is processed, you’ll receive a loan offer detailing the approved loan amount, interest rate, and tenure.
7. Acceptance: Review every terms and conditions of the loan offer. If satisfied, accept the offer.
8. Disbursement: Upon acceptance, Urban Money will disburse the approved amount to your designated bank account.

• In-branch Application:

1. Visit the Nearest Branch: Locate the nearest Urban Money branch.
2. Consult with Staff: Speak to the staff at the branch who will guide you through the application process.
3. Provide Documents: Submit the necessary documents in person.
4. Credit Check: Urban Money will conduct a credit check.
5. Receive Loan Offer: After processing, you’ll receive a loan offer.
6. Acceptance: Review and accept the offer if it meets your requirements.
7. Disbursement: Upon acceptance, the approved loan amount will be disbursed.