IIFL Finance understands that everyone's financial needs are unique. That's why IIFL Finance offer customised personal loans that cater to your capital requirements, with a hassle-free application process. Whether you're planning a dream wedding, a much-needed vacation, or a home renovation project, IIFL Finance's quick personal loan can help you achieve your goals. With their best personal loan in India, you won't have to compromise on your bucket list.
What's more, IIFL Finance's personal loan comes with attractive, affordable, and lowest interest rates, making it easier for you to raise funds instantly. Applying for an instant personal loan has never been easier - with IIFL Finance, your loan application is processed in less than 5 minutes, without the need for extensive documentation. Plus, the flexible personal loan EMIs ensure better liquidity and make it easier for you to achieve your set personal goals.
So why wait? Apply for a personal loan online today with IIFL Finance and make your dreams a reality!
IIFL Finance Personal Loan Features
IIFL Finance is a go-to destination for a wide variety of loan products designed to meet every requirement. Their lending solutions come with flexible repayment schedules to suit your needs. Among their range of offerings, one of the most popular loan options is the personal loan.
IIFL Finance's online personal loan is a convenient option that can help you quickly meet your financial needs. You can apply for this loan from anywhere, online. With an instant personal loan from IIFL Finance, you can enjoy the most competitive EMI schemes, interest rates, and loan tenures available in the industry. So whether you need funds to cover unexpected medical expenses or plan to embark on a much-awaited vacation, IIFL Finance's personal loan has got you covered.
IIFL Finance Offers Personal Loans Ranging From | INR 5,000 to INR 5,00,000, |
Competitive Interest Rates | Ranging From 12.75% to 33.75% (reducing balance interest rate). |
With Flexible Tenures | Ranging From 03 Months to 42 Months |
The Documentation Required Is Minimal | All You Need Is Your PAN card, Aadhar Card, And Bank Statements |
Plus, The Processing Fee Is Affordable, | Ranging From 2% to 4% (with a minimum charge of ₹750). |
IIFL Finance Also Charges An Additional Convenience Fee | ₹500. |
Let's say you need
A Loan Of | ₹20,000 |
For A Period Of | 180 days (6 months). |
At An Annual Interest Rate Of | 24%, |
The Total Interest Charged On The Loan Will Be | ₹1,426 |
Additionally, A Processing Fee Of | ₹590 Will Be Charged (2.5% of the loan amount, which is ₹500 plus GST at 18%, which is ₹90). |
After Deducting The Processing Fee, The Amount Disbursed To You Will Be | ₹19,410. |
Your Equated Monthly Instalment (EMI) For The Loan Will Be | ₹3,571. |
At The End Of The Loan Tenure, The Total Loan Repayment Amount Will Be | ₹21,426. |
*It's important to note that the annual interest rates and processing fee may vary depending on your risk profile and the tenure selected. However, with IIFL Finance's transparent and affordable rates, you can rest assured that you're getting a fair deal.
Benefits of IIFL Finance Personal Loans
IIFL Finance Personal Loans provide instant funds up to Rs 5 lakh with a speedy disbursal process. The loan can be used for various purposes such as vacations, weddings, higher education, vehicle purchase, and home renovation. IIFL Finance is a prominent financial company in India and offers personal loans with high monetary value.
Determine your EMI and select the best Personal Loan for you.
Personal Loan Rates and Charges
The rates and charges for Personal Loans are pre-determined, and they are presented transparently to avoid any hidden costs. The loan application process is customer-oriented, and the amount you need to pay to avail of the loan online is clearly communicated to you, along with instructions on how to calculate your EMI. The loan process is designed to be transparent, so you won't have to pay more than the rates and charges that were pre-communicated to you.
INTEREST RATE12.75 - 33.75 % (reducing balance interest rate) | PROCESSING FEE2 - 4% ([Min ₹750 to be Charged] Additional Convenience Fee of ₹500 will be charged) | MTM CHARGES NA |
Loan process in just 5 minutes
📝 You can determine your eligibility for a personal loan by filling out a single form.
🧾Additionally, you can expedite the application process by pre-filling the form with your Aadhar information and receiving instant approval
💻 Finally, you can upload all necessary documents online to complete the process.
Getting an Instant Personal Loan with IIFL is a breeze. Follow these simple steps:
1 Click on the 'Apply Online' button.
2.Fill in the necessary details in the online application form and verify the OTP sent to your mobile number.
3.Check KYC Status Online to confirm income eligibility.
4. Choose the loan amount you
want, up to Rs. 5 lakh.
5. Click on 'Submit' to complete your application.
Documents for Personal Loan
In order to maintain the highest level of customer safety and to ensure quick disbursal of loan amounts, we require some essential documents from the borrower.
The following documents are accepted:
1️⃣Government-issued identity proof such as PAN Card, Aadhar Card, or Driving Licence, along with a selfie.
2️⃣Three months' worth of bank statements as proof of income.
3️⃣Debit card or net banking details to set up an e-mandate.
4️⃣eSign or eStamp for fast personal loan disbursal.
Personal Loan Eligibility
To qualify for a personal loan, certain eligibility criteria must be met. Here are the requirements for both salaried employees and self-employed individuals:
Salaried Employees:
Minimum age of 23 years.
Maximum age of 60 years or retirement (whichever is earlier) at the time of loan maturity.
Self-Employed Individuals:
Minimum of three years in business.
Minimum age of 25 years.
Maximum age of 65 years at the time of loan maturity.
At IIFL Finance, we believe in making personal loans accessible to all eligible borrowers, so you can get the funds you need to fulfill your aspirations.
Before applying for a personal loan, it's important to keep a few things in mind to ensure a smooth loan process and avoid any financial hiccups.
Here are some tips to consider:
Choose a reputed financial institution to apply for the loan.
Compare various banks and financial institutions based on loan amount, interest rates, approval and disbursal time, and EMI options to find the best fit for you.
Keep a good credit score by avoiding defaulting on any interest or repayment.
Seek guidance from a loan advisor to determine the ideal loan amount and tenure for your specific needs.
By following these tips, you can be confident in your personal loan application and secure the funds you need to accomplish your goals.
FAQs related to Personal Loans:
What is Personal Loan?
Imagine you have a dream of starting your own business, but you do not have enough funds to make it a reality. Or you want to renovate your house but do not have the cash to pay for it all at once. This is where a personal loan comes in.
A personal loan is a financial tool that can help you achieve your dreams and goals by providing you with a lump sum of money that you can use for almost any purpose.
For example, let's say you want to start a baking business from home, but you need to purchase equipment, supplies, and ingredients. You can apply for a personal loan and use the funds to purchase everything you need to get started. Then, you can repay the loan over time with interest, using the profits from your business.
Personal loans can also be used for debt consolidation, home improvement projects, medical expenses, and more. They come with fixed interest rates and repayment terms, making them a more predictable form of borrowing than credit cards. Plus, they can often be obtained at a lower interest rate than credit cards, making them a more affordable borrowing option.
If you have a dream or goal that requires funding, consider applying for a personal loan. With the right lender and a solid plan for repayment, a personal loan can be a powerful tool to help you achieve your dreams and build the life you want.
How much Personal Loan can I get?
How Personal Loan Emi is Calculated?
Why Personal Loan interest rate is high?
How much Personal Loan can I get on my salary?
How much Personal Loan can I get on ₹30000 salary?
How much personal loan can I get on ₹20000 salary?
How much Personal Loan can I get on ₹40000 salary?
How much Personal Loan can I get on ₹60000 salary?
Is Personal Loan taxable in India?
What is the Personal Loan age limit in India?
