IDFC FIRST Bank
IDFC FIRST Bank is one of India’s leading private sector banks, known for its customer-friendly banking, digital-first approach, and competitive loan products. The bank offers home loans, personal loans, business loans, loans against property, vehicle loans, education loans, and credit cards.
Contact With BorrowRight
Loan Type | Interest Rate (p.a.) | Processing Fee | Loan Amount | Repayment Tenure |
Home Loan | Starting from 7.85% (floating, profile-based) | Up to 3% + GST | Up to 90% of property value | Up to 30 years |
Personal Loan | Starting from 9.99% | 0%–3.5% of loan amount (GST included; 0% on select offers) | Up to ₹10 Lakhs (higher for eligible customers/products) | 9–60 months |
Business Loan | Starting from 10.50% | Up to 2% + GST | Based on business eligibility | Up to 5 years |
Loan Against Property | Starting from 8.75% | Up to 2% + GST | Up to 75% of property value | Up to 20 years |
Education Loan | Starting from 9.50% | Up to 2% + GST | Based on course and eligibility | Up to 15 years |
Vehicle Loan | Starting from 8.75% | As per bank policy | Based on vehicle value | Up to 7 years |
EMI Calculator – Calculate Your Monthly Loan EMI Instantly
Use the BorrowRight EMI Calculator to estimate your monthly EMI, total interest payable, and total repayment amount for Home Loans, Personal Loans, Car Loans, Business Loans, and Loan Against Property. Adjust the loan amount, interest rate, and tenure to find the repayment plan that fits your budget.
This layout is user-friendly, improves engagement, and can encourage more visitors to submit loan inquiries.
Eligibility Criteria on IDFC FIRST Bank Bank
Salaried Applicants
- Age: 21–60 years
- Stable monthly income
- Good credit score (preferably 750+)
- Minimum work experience as per bank policy
Self-Employed Applicants
- Age: 21–65 years
- Stable business income
- Business continuity as per bank policy
- Good repayment history
Documents Required
Identity Proof
- Aadhaar Card
- PAN Card
- Passport
- Driving Licence
- Voter ID
Address Proof
- Aadhaar Card
- Passport
- Utility Bill
- Rental Agreement (if applicable)
Income Proof
For Salaried
- Last 3 Salary Slips
- Bank Statements (3–6 months)
- Form 16 (if applicable)
For Self-Employed
- Last 2–3 Years Income Tax Returns (ITR)
- GST Registration (if applicable)
- Financial Statements
- Bank Statements
Property Documents (For Home Loan/LAP)
- Sale Agreement
- Property Title Documents
- Approved Building Plan
- Encumbrance Certificate (if applicable)
Key Features on IDFC FIRST Bank
- Fast digital loan application
- Flexible EMI options
- Balance transfer facility for eligible home loans
- Transparent loan process
- Dedicated customer service
- Secure online banking
Loan Repayment Options
- Auto Debit (ECS/NACH)
- Net Banking
- Mobile Banking
- NEFT/RTGS
- UPI (where available)
Factors Affecting Loan Approval
- Credit Score
- Monthly Income
- Employment Stability
- Existing Loan Obligations
- Loan Amount
- Repayment Capacity
- Property Value (for secured loans)
Charges That May Apply
| Charge | Details |
|---|---|
| Processing Fee | Up to 3% of the loan amount + GST (varies by loan product and applicant profile). |
| Documentation Charges | Applicable for selected loan products as per the bank’s policy. |
| Late Payment Charges | Charged on overdue EMIs as per the loan agreement. |
| Foreclosure/Prepayment Charges | Home loans (floating rate) generally have Nil foreclosure charges for individual borrowers. Other loan products may have applicable charges as per RBI guidelines and bank policy. |
| EMI Bounce Charges | Applicable if an EMI payment fails due to insufficient funds or other reasons. |
| Penal Interest | Additional interest may be charged on overdue loan amounts until payment is made. |
| Stamp Duty & Legal Charges | Applicable as per state government regulations and loan type. |
| Duplicate Statement/NOC Charges | Charges may apply for issuing duplicate loan statements, NOC, or other documents. |
| Loan Cancellation Charges | Applicable if the loan is cancelled after sanction, as per bank policy. |
| GST & Government Taxes | GST and other applicable government taxes are charged on processing fees and service charges. |
Why Choose IDFC FIRST Bank?
- ✔ Competitive interest rates
- ✔ Instant digital loan approval
- ✔ Paperless application process
- ✔ Flexible EMI repayment options
- ✔ Zero foreclosure charges on select personal loans
- ✔ Transparent pricing
- ✔ Strong digital banking
Why Choose BorrowRight?
At BorrowRight, we make finding the right loan simple, transparent, and hassle-free. Instead of approaching multiple banks individually, you can compare loan options from leading lenders and choose the one that best fits your financial needs. Our experienced loan advisors guide you throughout the process, ensuring a smooth and stress-free borrowing experience.
Our Key Advantages
Multiple Bank & NBFC Partners – Compare loan offers from leading banks and financial institutions in one place.
Expert Loan Advisors – Receive personalized guidance to choose the most suitable loan.
Competitive Interest Rates – Access attractive interest rates based on your eligibility.
Fast Loan Processing – Quick application review and faster approvals.
100% Transparent Process – No hidden charges and clear communication at every step.
Minimal Documentation – Simple paperwork to make the application process easier.
Personalized Loan Solutions – Recommendations based on your income, credit profile, and financial goals.
End-to-End Support – Assistance from application submission to loan disbursal.
Secure & Confidential – Your personal and financial information is handled with strict confidentiality.
Free Loan Consultation – Speak with our experts before making a borrowing decision.