IIFL Personal Loan is one of the most popular loans since it may be used for a variety of purposes such as weddings, vacations, house renovations, higher education, medical emergencies, and so on. IIFL guarantees that a personal loan of up to Rs. 25 lakhs would be issued to your account within 8 hours. For a stress-free repayment, the IIFL Bank Personal Loan tenure ranges from 12 to 60 months.
IIFL Personal Loan Features and Benefits
The following are some of the benefits of an IIFL Personal Loan:
Optional repayment flexibility.
If all of the requirements are completed, the loan will be disbursed within one working day.
- It is possible to check your eligibility online.
- The process of approval is quick.
- Personal loan rates are comparable to those seen in the banking industry.
- You have the option of selecting your own amount from the available options.
- The application process is transparent.
- Documentation is kept to a minimum.
- Terms and conditions that are friendly to customers.
- Repayment history is excellent.
- EMI rates that are affordable.
- There are no hidden fees.
IIFL Personal Loan Interest Rates
The IIFL Bank personal loan interest rate starts at 13%. There are no hidden terms and conditions in the entire process. Age, income, credit score, employer, and other factors all influence the personal loan interest rate.
IIFL Personal Loan Eligibility Criteria
The IIFL has established a set of principles for determining whether or not you are eligible for an IIFL personal loan. The following are the eligibility requirements:
- An applicant minimum age should be 25 years old.
- He should be no older than 60 years old.
- He’s supposed to be an Indian.
- He must be a salaried employee.
- He must have worked for his current workplace for the last six months.
- He must have a minimum of two years of work experience, including six months in the same company.
- His monthly salary must be at least Rs. 35,000.
- His current address must be in one of the following cities: Delhi and NCR, Pune, Mumbai (including Thane and Vashi), or Mumbai (including Thane and Vashi).
Documents Required for IIFL Personal Loan
An individual’s Aadhar-linked pre-filled application form is approved in less than 5 minutes. You can upload required documents online from the comfort of your own home or office. To get a personal loan, you’ll need the following documents:
- The relevant information was entered into the IIFL personal loan application form.
- For eKYC, you’ll need your Aadhar number. If the eKYC process has been completed, only the Aadhar number is required; ID evidence and residence proof are not required.
- Proof of Identity (if eKYC process is not materialized)
- Proof of address (if eKYC process is not materialized)
- Latest salary slips – the applicant’s salary account for the previous three months.
- A photograph in passport size.
- Voter ID, passport, or driver’s license are all acceptable forms of identification.
- PAN Card must be valid.
- Passport/Voter ID can be used as proof of residency.
IIFL Personal Loan EMI Calculator
The IIFL Bank personal loan EMI calculator is one of the most basic and straightforward tools offered to its customers. This function allows consumers to make informed decisions before applying for a loan in their chosen amount. The processing fees, the expected rate of interest, and the term for which the loan will be taken out are all factors in this formula.
The EMI calculator will ask you for the amount you wish to borrow as well as the total number of months over which you wish to repay the loan. Based on this information, the calculator will calculate various monthly installments that vary depending on the loan repayment term.
Amount of 2 lakh borrowed at a rate of 13% annual interest for a flexible repayment period:
|Loan Amount||ROI @ 13.00%||Tenure (Months)||Repayment||EMI||Interest|
|₹ 2,00,000||0.011||24||₹ 2,28,200||₹ 9,508||₹ 28,200|
|48||₹ 2,57,543||₹ 5,365||₹ 57,543|
|60||₹ 2,73,036||₹ 4,550||₹ 73,036|
|72||₹ 2,89,067||₹ 4,014||₹ 89,067|
|84||₹ 3,05,624||₹ 3,638||₹ 1,05,624|
How do I apply for a IIFL Personal Loan ?
While you can apply for an IIFL personal loan through Afinoz, you should complete the steps below:
- Afinoz’s IIFL personal loan eligibility calculator can help you determine your IIFL personal loan eligibility. Visit Afinoz.com, fill out an application form, and receive a fast and accurate assessment of your personal loan eligibility.
- Afinoz.com’s IIFL personal loan EMI calculator can help you calculate your IIFL personal loan EMI. This will assist you in determining the exact amount you must pay each month toward your loan repayment.
- Check the papers you’ll need to apply for an IIFL personal loan.
- Whether you are employed or self-employed, submitting the right paperwork will increase your chances of getting your loan granted in the shortest amount of time feasible.
IIFL Personal Loan Status
By following a few simple steps, you can quickly track the status of your personal loan application with IIFL. To begin, go to the internet site or download the mobile phone app and log in with your credentials. Then, enter the application number. Moving on, the website displays the account summary, which allows users to easily track the progress of their loan applications, including whether they have been accepted, are in the process, or have been denied.
Why should you choose Afinoz.com to apply for an IIFL Personal Loan?
Afinoz.com is a prominent customized financial marketplace in India. It has developed a personal loan platform that allows you to select the finest personal loan from a variety of possibilities. All of the alternatives are created by the system and built with your individual needs and objectives in mind.
- Instant Approval – Your e-approval will be granted within 2 to 3 days after you fill in some basic details and submit your application form together with relevant documentation.
- Real-time application tracking – With a unique transaction id generated at the moment of IIFL business loan application submission, you may maintain track of the application status in real-time. We make sure that all applicants are kept up to date on their application status via SMS and email at all times.
- Online eligibility check — You can do all of your business with the lender on the internet. Simply enter your basic details, and our online personal loan eligibility calculator will tell you how much money you can borrow from IIFL for your personal financing.
- Afinoz.com has an in-built security system for your personal information, which is held in a secure environment on our system with your permission. This data is subsequently provided to the lenders in a digitally encrypted format, which is incredibly secure.
- Our skilled customer service professionals will give the best financing/investment solutions to handle your difficulties at any step of your application process if you have any questions or require financial guidance. As a result, there’s no need to waste time and make several journeys to the lender to discuss loan terms.
- There is no need for a third-party agent because the Afinoz.com online loan application process is completely free. Afinoz allows users to contact several providers straight online without the need for an agent, minimizing unnecessary delays and headaches.
- Quotes for free – Get free unbiased quotes for the best loan rates on an IIFL personal loan or IIFL business loan when you apply online.
Conclusion for IIFL Bank personal loan :
To conclude, IIFL Bank offers various things to its customers to facilitate them such as IIFL Bank personal loan EMI calculator, low IIFL Bank personal loan interest rate, and others. As mentioned above you can get amazing offers and great deals on IIFL Bank personal loans through Afinoz.