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IDFC Salaried Employee Personal Loan
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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 |
|
Minimum Income | ₹20,000 |
Credit Score | Minimum score of 700 |