One must meet the eligibility criteria for the trouble-free application of the IDFC First Bank Personal Loan. The reimbursement of the loan amount depends on your credit and CIBIL score. For salaried individuals, the age limit at the time of loan maturity should be a minimum of 23 years and a maximum of 58 years. For the self-employed applicants, the business must be at least 3 years old. The company’s PAT i.e. profit after tax of the last 2 years should be encouraging. The age limit for availing of IDFC First Bank Personal Loan for self-employed individuals at the time of application should be a minimum of 25 years and a maximum of 65 years and at the time of loan maturity, the age limit should be a minimum of 28 years and maximum 68 years.
Fees and charges for IDFC First Bank Personal Loan
5% of the outstanding loan amount (plus GST) is the foreclosure fee if after six months of availing of the loan you decide to foreclose your account. If you foreclose your account within six months of availing of the IDFC First Bank Personal Loan loan you will not be required to pay any foreclosure fees.
| Particulars | Fees | Remarks |
| EMI bounce charges | Rs.400 | For each dishonoring of the presentation |
| Repayment instrument swap charges | Rs.500 | As per change request |
| Statement of Account (Adhoc/Duplicate) | Rs.500 | |
| Cancellation/Rebooking Charges | 1% of the loan amount + interest availed from the date on which the loan amount was disbursed till the date of the cancellation of the loan request. The request for cancellation will have to be submitted within a month of either the loan booking date or 1st EMI presentation date, whichever is earlier. Post which cancellation will be treated as foreclosure | |
| Duplicate No Objection certificate / No Dues Certificate | Rs.500 | |
| Stamping Charges | As per actuals | |
| Physical Repayment Schedule | Rs.500 | |
| EMI Pick up/ Collection Charges | Rs.350 | |
| Document retrieval charges (per retrieval) | Rs.500 | |
| Overdue interest | 2% of the unpaid EMI or Rs.300 whichever is higher | |
| Part-prepayment Loan | Maximum 40% of the current outstanding amount is allowed for part payment once in a fiscal year. This option is available only post initial payments of 3 EMIs. For availing of this option 2% part-payment charges are applicable on partial payment. | |
