IDFC Salaried Employee Personal Loan

IDFC First Bank offers personal loans to salaried employees with attractive interest rates, flexible repayment tenure, and easy documentation. The IDFC First Bank Salaried Employee Personal loan amount can range from ₹20,000 to 1 Crore, depending on the applicant’s credit history, income, and repayment capacity. The loan application process is hassle-free. What’s more convenient, salaried employees choosing the IDFC First Bank Salaried Employee personal loan can apply online. The Bank also provides pre-approved personal loans to eligible customers. Therefore, customers can apply for an IDFC First Bank Salaried Employee instant loan with minimal documentation. Furthermore, there are no hidden charges associated with IDFC First Bank personal loans, making them a viable option for salaried employees in need of financial assistance for personal emergencies.

IDFC First Bank Personal Loan for Salaried Employee – Highlights 

Here are the highlights of IDFC First Bank Salaried Employee personal loans.

Feature	Description
Interest Rate	Starting from 10.75%
Loan Amount	₹20,000 – 1 Cr
Tenure	6 – 60 months
Any Hidden Charges	No hidden charges

Comparing IDFC First Bank Loan with other banks

IDFC First Bank is one of the leading banks in India, offering competitive interest rates to all salaried employees. While many banks offer personal loans for Salaried Employees, the interest rates may vary. Here is a comparison of IDFC First Bank Salaried Employee Personal loan interest with other banks.

Feature	IDFC First Bank	Kotak Mahindra	ICICI Bank	Axis Bank	HDFC Bank
Interest Rate Minimum	10.75%	10.99%	10.65%	10.49%	10.49%
Interest Rate Maximum	36%	36%	16%	22%	24%

IDFC First Bank Personal Loan for Salaried Employee – Fees and Charges 

Here are the IDFC First Bank Salaried Employee personal loan details, such as fees and charges applicable to the loan.

Types of Fees	Applicable Charges
Processing fees	Up to 3.5% of Loan Amount
Late payment fees	Up to 2% of the unpaid EMI or up to ₹300, whichever is higher
EMI Pickup/Collection Charge	Up to ₹500/-
Physical Statement of Account/Repayment Schedule	Up to ₹500/- per statement
Loan Foreclosure	5% of principal outstanding.

IDFC First Bank Personal Loan for Salaried Employee – Documents Required 

Here is a list of IDFC First Bank Salaried Employee Personal loan Document requirements.

• PAN Card or Form 60
• Identity Proof & Address Proof issued by the authority of the State or Central Government.
• Proof of Income – Salary slips of 3 months Salary Slip
• Job Card issued by NREGA duly signed by an officer of the State Government (if available).
• Ownership of collateral (if any) – Sales Deed, latest Electricity bill or Property tax bill, etc.
• ITR of previous 2 years.

IDFC First Bank Personal Loan for Salaried Employee – Eligibility Criteria 

Salaried employees can apply for the IDFC First Bank Salaried Employee personal loan online if they meet the Bank’s eligibility criteria. Here are the IDFC First Bank Salaried Employee Personal loan eligibility criteria for all government and non-government salaried employees.

Criterion	Requirement
Age Group	Minimum 23 years Maximum 60 years of age at the time of loan maturity.
Type of Employment	State government employee Central government employee An employee of a corporate undertaking. Minimum 1 year of service in current employment.
Minimum Income	₹20,000
Credit Score	Minimum score of 700