IDFC is a financial institution of India. IDFC was founded on 1997. IDFC provides personal loan in India at lowest interest rate. Its current head office is at Mumbai. IDFC Bank has merged up with Capital First and became the IDFC First Bank on 2015.

Benefits of IDFC Personal Loan 

• The documentation for IDFC Personal Loan is so minimal.
• One day approval.
• Take loan without mortgaging any of your property.
• Fast processes.
• Pre-closure option is available.
• Get attractive premium for your personal loan insurance.
• Interest rate is calculated by monthly basis.
• Apply loan online.
• Service at your door step.
• Get Customized offers (corporate employees, women professionals)
• Fast loan disbursal if you have matched the IDFC personal loan eligibility criteria’s.
• Lowest interest rate on those who can met all the eligibilities.
• Apply online for fast approval.

Factors effects IDFC Personal Loan eligibility

• CIBIL Score- IDFC Personal Loan eligibility interest rate mostly depends on your CIBIL Score. If your CIBIL Score is high your IDFC Personal Loan eligibility will be high. Your credit score or cibil score stands for your past loan repayments. So if you have low cibil or credit score your IDFC Personal Loan eligibility will be lower and interest rate will be high. As personal loan is an unsecured loan so it already comes with higher interest rate.
• Job stability- If you have a stable job or business your IDFC Personal Loan eligibility will be higher for example if you are working on a repudiated with salary more than or same 25k there are huge chances that you can get personal loan with lowest interest rate, and if you are working in a non-listed company or un-employed your IDFC Personal Loan eligibility will be lower.

DOCUMENTS REQUIRE to IDFC Personal Loan Eligibility Criteria

KYC DOCUMENTS to fulfill IDFC Personal Loan Eligibility Criteria

• Pan Card
• Adhaar Card
• Voter’s ID
• Passport   Size Photo

INCOME DOCUMENTS to fulfill IDFC Personal Loan Criteria

• Salaried: Last 3 years of PAYSLIPS, 6 months’ salary account bank statement.
• Self – employed: IT files of last 2 years, Financial Documents, last 6 months primary account statement of company.
• Installments applicant is currently paying, all the numbers of credit cards and credit limit applicant has.

PROOF OF EMPLOYMENT / BUSINESS CONTINUITY to fulfill IDFC Personal Loan eligibility criteria

•  Salaried: Form 16 or appointment letter of 2 years earlier.
• Self Employed: Tax registration certificate of dated 2 years or an earlier period.
• Property Documents (HL/LAP) to fulfill IDFC Personal Loan  Eligibility Criteria
• If the property is under construction proof of booking amount or allotment letter.
•  If the property is ready Sale deed, Property tax paid certificate (latest).

IDFC Personal Loan Eligibility for self-employed and salaried