Should You Apply for IDFC Personal Loan?

IDFC Personal Loan

IDFC Bank is one of the fast growing banks in India’s banking space. The journey, which started from a non-banking finance company (NBFC), has now reached to a full-fledged bank. With services such as personal loan, the bank ensures to fulfill the wishes of marriage, travel or even meet the medical emergencies and fast cash needs. But before you apply for a loan, a quick look at the interest rate and several other aspects is necessary, don’t you think so? The article, dedicated to IDFC Personal Loan, would only help you understand things better. So, come and read all important details right here.

IDFC Personal Loan Interest Rate, EMI Info

The bank disburses you a loan at an interest rate of 12%-19% per annum. You can be given a maximum of 5 years to pay the loan that can go up to as much as 20 lakhs. A very few lending institutions offer personal loans up to 20 lakhs and more. Now, with the disclosure of loan amount, interest rate and tenure, it becomes easy to calculate the EMI, an abbreviated form of Equated Monthly Installment.

Yes, the calculation of EMI depends on these three variables. You can just go online to use the EMI calculator. The mathematical tool, besides calculating the installment, would also give a summation of the interest likely to be paid from your end, helping you plan your budget accordingly. By glancing at the results of the calculator, you can make adjustments in your spends to make sure the repayment is made without a default.

How Would IDFC Calculate Your Loan Eligibility?

IDFC assesses your loan eligibility based on the income and its stability. It also factors in the expenses and savings you make month-on-month. It may even ask you to quote the amount you would like to pay towards EMI. The bank would keep all that in the eligibility calculator, which powered by smart algorithms, flashes the loan amount that a concerned individual is eligible to receive.

How to Apply for IDFC Personal Loan?

You can visit the website of IDFC Bank to apply for a personal loan online. All you need to do is to click on ‘Personal Loan’ and then to ‘Apply Now’. Post clicking on the latest button, you would be asked to submit a few personal and professional details. After these details get verified successfully, the bank gives the nod for a loan.

IDFC Personal Loan Status Check

You can check the status of personal loan online by clicking on ‘Track Your Loan Status’. After that, you need to enter application number, registered mobile number and captcha before clicking on ‘Continue’ button. So, whatever the status may be, you would get to know the same online.

IDFC Personal Loan Customer Care Number

For any query or complaint, you can simply dial the 24×7 number-18004194332 and get them sorted out ASAP. Be it the rates or any other charges, you would get to know everything in detail from IDFC Bank customer care executives.

So, you have got to know the details you were looking for with respect to IDFC Personal Loan. Do weigh the option carefully by checking the impact of its interest rates on the EMI.

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