IDFC First Bank Personal Loan of 9 Lakh

IDFC First Bank personal loan 9 lakh scheme offers individuals the opportunity to secure financial assistance for diverse needs. With a straightforward application process along with competitive interest rates, the loan accommodates various purposes, including home renovation, marriage expenses, and debt consolidation. The bank prioritises a swift and convenient digital application process, ensuring quick approvals for eligible applicants.

Personal Loan Options for 9 lakh in IDFC First Bank

Here is the detailed overview of personal loan options for IDFC First Bank personal loan 9 lakh:

Features of Bank 9 lakh Personal Loan

Secure the financial assistance you need with IDFC FIRST Bank’s 9 Lakh Personal Loan, tailored to meet various requirements. Whether it’s for home renovation, marriage expenses, debt consolidation, or any urgent financial need, this loan offers flexibility and convenience.

1. Loan Amount: Avail a substantial loan amount of up to 9 lakhs to meet diverse financial obligations.
2. Purpose-Focused: Use the loan for a variety of purposes, including home improvement, marriage, debt consolidation, or unforeseen expenses.
3. Competitive Interest Rates: Benefit from competitive 9 lakh loan interest rates starting at 10.49% p.a, ensuring cost-effective borrowing.
4. Special Approval Process: Self-employed individuals can enjoy a streamlined approval process, requiring only a banking statement.
5. Digital Application for Women: Women with a monthly salary over 5,000 rupees can apply for up to 9 lakhs through a quick and easy digital application process via Mobile Banking.
6. Flexible Repayment Options: Enjoy the flexibility of part payments, helping you to better manage your finances.

Can I Get a 9 lakh Personal Loan Instantly From IDFC First Bank?

You can get a 9 lakh personal loan from IDFC FIRST Bank right away. Customised to meet a range of financial requirements, such as debt consolidation, wedding expenses, or house remodelling, the loan has a speedy online application process. Benefit from competitive interest rates beginning at 10.49% per year and various repayment choices. Self-employed individuals can use a simplified approval process that requires simply a bank statement. Women with a monthly wage greater than 5,000 rupees can get fast approval with an easy digital application via Mobile Banking.

What Is the EMI for a 9 lakh Loan?

For a 9 lakh loan, the Equated Monthly Installment (EMI) depends on the rate of interest and the loan tenure. At an interest rate of 10.49% for a 3-year tenure, the 9 lakh personal loan EMI is approximately INR 29,248 per month. If the interest rate is 21.99% for a 5-year tenure, the EMI is around INR 24,852 monthly. While planning your repayment, you can use the EMI formula: P x R x (1+R)^N] / [(1+R)^N-1]

Where:

• P is the principal loan amount (9 lakhs),
• R is the monthly interest rate,
• N is the total number of monthly installments.

Eligibility Criteria 9 lakh Loan in IDFC First Bank

To qualify for a 9 lakh personal loan eligibility IDFC First Bank, applicants must meet specific eligibility criteria:

Salaried Individuals:

• Minimum Age: 23 years
• Maximum Age: 60 years or retirement, whichever comes earlier.

Self-Employed Individuals:

• Business Existence: Minimum 3 years
• Minimum Age: 25 years
• Maximum Age: 65 years at loan maturity.

Documentation:

Proof of identity, address, and income is mandatory.

Credit Score:

• A satisfactory credit score is essential for eligibility.

Documents Required 9 lakh IDFC First Bank Loan

9 lakh personal loan document IDFC First Bank include:

Identity Proof:

• Aadhar Card/ Passport / Voter ID / Driving License

Address Proof:

• Utility bills (electricity, water, gas)/ Aadhar Card / Passport

Income Proof:

• Salaried Individuals: Latest salary slips, bank statements.
• Self-Employed Individuals: Income tax returns, business continuity proof.

Age Proof:

• Birth certificate
• Passport

Photographs: 

• Passport-sized photographs

How to Apply for a 9 lakh Personal Loan From Urban Money?

Applying for an instant 9 lakh loan IDFC First Bank from Urban Money is a simple process. Follow these steps to apply:

1. Visit the Urban Money Website: Go to Urban Money’s official website to access their online loan application portal.
2. Create an Account: If you’re a new user, you may need to create an account on the platform. Provide the necessary details to register.
3. Fill in Personal Details: Log in to your account and fill in the required personal information, including your name, contact details, and address.
4. Enter Loan Requirements: Specify the loan amount you are seeking (9 lakhs) and the purpose of the loan.
5. Upload Documents: Urban Money may require documentation for verification. Upload the necessary documents securely through their portal.
6. Submit Application: Review the entered information, ensure accuracy, and submit your loan application.
7. Wait for Approval: Urban Money will assess your application. Once approved, you will receive details about the loan terms and conditions.
8. Accept Loan Terms: The loan amount will be paid out to your bank account upon acceptance.