Apply For IIFL Bank Instant Personal Loan Interest Rate 2021

When it comes to IIFL Bank Personal Loan, there are various benefits offered to the applicants for availing of the loan. IIFL Personal Loans is offered up to Rs.25 lakhs which is meant to be disbursed into your account in as little as 8 hours. This would not be enough to availing the IIFL Personal Loan, thus, you need to read the article for more information.  

IIFL Personal Loan Interest Rates  

The IIFL has competitive personal loan interest rates, ensuring that your EMIs remain cheap throughout the loan term. It will never charge any hidden fees that catch customers off guard at IIFL, and they are completely upfront in our transactions: 

Particulars  Charges 
Rate of Interest   16% p.a. onwards 
Loan Processing Charges  Up to 3% of Sanctioned Amount including GST 
Cheque or ACH Return Charges  Rs. 500 + GST per instance 
Cheque or ACH Swapping Charges Duplicate No-dues Certificate   Rs. 500 + GST per instance 
Duplicate Statement / Amortisation / Repayment Schedule/ Agreement/ Sanction Letter  Rs. 200 + GST per instance 
Penal Interest  24% p.a. 
Prepayment / Foreclosure (01-06 months of EMI Repayment)  7% including GST (Approval required) 
Prepayment / Foreclosure (07-24 months of EMI Repayment)  5% including GST 
Prepayment / Foreclosure (more than 24 months of EMI Repayment)  4% including GST 
Loan Cancellation  Interest will be charged for disbursed period between the date of Disbursement & the date on which the loan was canceled.  

Steps to get IIFL Bank Personal Loan 

Personal loans can be used for local or international vacations, weddings, the latest gadget, further education, automobile purchases, and even house renovations. IIFL Express Personal Loan will assist you in realizing your ambition in three simple steps: 

  • Eligibility check-in 1 minute  

All you need to do is to check your monthly income and be sure about the loan which you want to receive.   

  • Online approval in 5 minutes 

You can auto-fill your form and skip KYC document submission by using your Aadhaar number or by manually filling the form. IIFL Bank Personal Loan will instantly approve the Aadhaar number to give you e-approval.  

  • Loan amount in the account within 8 hours  

The applicants will easily get approval after uploading their documents. The bank will quickly verify these and call you to confirm the final loan offer and disburse the loan within 8 hours.   

Features of IIFL Personal Loan  

  • A loan of up to Rs.25 lakhs is available. 
  • There is very little documentation. 
  • For speedier processing, an entirely online approach with instant  
  • E-KYC approval and eSign through Aadhar are used. 
  • In just 8 hours, your loan will be disbursed. 

Eligibility criteria of IIFL Bank Personal Loan 

  • A salaried individual is required. 
  • A monthly income of Rs. 35,000 or more is required. 
  • The applicant’s age must be between 25 years and 60 years old. 
  • The applicant’s current residence must be in one of the following cities: Delhi and the National Capital Region, Mumbai, including Thane and Vashi, Bengaluru, and Pune. 
  • The applicant must have worked in the current organization for at least 6 months. 
  • The applicant must have a minimum of two years of work experience.  

Documents required for IIFL Personal Loan  

To expedite the Personal Loan application, please keep a soft copy of the following documents on hand:  

  • To complete eKYC, you’ll need your Aadhar number. You only need the phone number; there will be no need to upload anything. 
  • Proof of Identity (Not required if eKYC is done) 
  • Proof of address (Not required if eKYC is done) 
  • Salary slips from the previous three months 
  • Latest three-month bank statement for salary account Rent Agreement (if applicable) 

IIFL Personal Loan EMI Calculator  

When considering a personal loan, you should consider your income and current obligations to determine how much loan you can take and whether the EMIs will be manageable. 

You can calculate your EMI using the above IIFL Personal Loan EMI CalculatorIIFL Personal Loan helps you achieve your goals faster and repay your loan easily with cheaper EMIs, attractive interest rates, and a repayment term of up to 5 years. You may also use Afinoz Personal Loan Eligibility Calculator to find out how much loan you qualify for by entering your company name, salary, and existing EMIs, and obtain quick loan approval. 

Why people are applying for IIFL Personal Loan?  

  • More than 3.5 million happy customers 
  • Online processes and technologies that are secure 
  • A well-known brand 
  • Processes that are transparent 
  • The dedicated customer service team 

Brief Summary  

At last, we will briefly explain the IIFL Personal Loan interest rateeligibility criteria of IIFL Personal Loan, flexible repayment tenure, using IIFL Personal Loan EMI Calculator, and benefits for availing IIFL Personal Loan. You will get instant approval of the loan through Afinoz Personal Loan EMI Calculator or you can contact the bank representative.