Get IIFL Personal Loan At A Low-Interest Rate

IIFL offers personal loans with an attractive rate of interest that ensures an affordable EMI throughout the tenure. At IIFL, there are no hidden charges that take customers by surprise and are transparent in dealings. Get IIFL Personal Loan interest rate at 16% p.a. for the maximum loan amount of Rs. 25 lakh. 

Features of IIFL Personal Loan 

  • The user will get pre-closure only after 12 months with no charges. 
  • No guarantor is required for the loan. 
  • No part-payment options are required. 
  • Conditional pre-closure only after 1 year. 
  • Speedy loan approval process.
  • Minimized documentation process 
  • Customer-friendly terms and condition 
  • An online eligibility check facility is available for the customers.  
  • Flexible repayment options are available. 
  • Personal loan rates at par with the banking industry. 
  • Personal loan status 

Overview of IIFL Personal Loan

Rate of Interest (% p.a.)

Loan Amount (Rs.) Processing Fees
Starts at 16% p.a. Maximum of Rs.25 lakh

Maximum 2% of the loan amount plus GST

 Eligibility criteria of IIFL Personal loan 

  • The applicant must be an Indian resident. Applicant must be the salaried applicant. 
  • The rate of interest is offered at 16% p.a. onwards. 
  • Applicants must have at least 6 months of work experience in the current organization. 
  • Applicants must have at least 2 years of total work experience in the same organization. 
  • The age of the applicant must be a minimum of 25 years and a maximum of 60 years. 
  • The monthly income should be at least Rs. 35,000 per month. 
  • The working location must be in any of these cities: Mumbai, Delhi, Pune, Bangalore, Hyderabad, and Chennai. 

Documents Required for IIFL Personal Loan 

If you fulfill the eligibility criteria for IIFL Personal Loan, it is required to provide the following documents for the processing of the loan:

  • Submit Aadhaar number for eKYC
  • Submit proof of identity
  • Applicants should submit Proof of address.
  • Submit the latest salary slips for the last 3 months.
  • Submit a bank statement of salary account for the last 3 months.
  • Rental agreement (if applicable).

Note: Proof of identity and proof of address will not be required if KYC is already done.

Fees and Charges applicable to IIFL Personal Loan

Schedule of charges

charges of cheque bounce 

Rs.500 for each bounce + GST

Cheque dishonor charges

Rs.500 for each bounce + GST

Late payment charges

2% compounded monthly

Penal charges

2% compounded monthly

Documentation charges


Foreclosure charges

Up to 6%

Stamp duty charges


Charges for inspection


Prepayment charges Nil

Why do people choose IIFL Personal Loan?

It can be easy to get ample benefits that are offered to you if he or she applies for an IIFL Personal Loan. Some of the benefits have been listed below:

  • You can check eligibility in just 1 minute.
  • There is a quick online approval process in just 5 minutes.
  • It expresses disbursal of the loan amount in just 8 hours.
  • The loan amount is offered up to Rs.25 lakh.
  • Hassle-free documentation process required.
  • Completely online application process.
  • Transparent process of the loan.
  • Faster processing of loan applications through eKYC and eSign via Aadhaar.
  • A dedicated customer support team is available. 
  • The trusted name of the product with a huge customer base.

IIFL Personal Loan Eligibility Calculator

It can be easy to get the EMI amount using the IIFL Personal Loan EMI Calculator where you can check what will be the EMI if you take a specific loan amount for the amount of fixed percent for the tenure of 2,3 or 5 years. To estimate the loan amount, you can use IIFL Personal Loan Eligibility Calculator for your use. 

IIFL Personal Loan offers the Eligibility Calculator that doesn’t give you an estimate of the loan you can avail of. Apart from this, it helps you to let you know the online application process and get instant approval and also upload documents. Thus, you can get the loan approval within 5 minutes and know how much loan you can get and if you have uploaded the documents too, you can get the loan amount in just 8 hours. 

Additional Charges of IIFL Personal Loan 

S.No Type Charges
1. Processing fees Up to 2% of the loan + GST
2. Penal Charges, Late Payment Charges, Defaults Of Any Monies Payable. 2% Compounded Monthly
3. Charges for:

  • Cheque Bounce
  • Cheque Dishonour
  • Cheque Swap
  • SI/ECS Dishonour
  • No-Dues
  • Document Retrieval
  • Duplicate Statement / Repayment Schedule, Etc.
Rs. 500/- Per Bounce Plus GST
4. Including any other charges, documentation charges, inspection charges, and stamp duty charges. NIL, Not Applicable
5. Foreclosure Charges Up to 6%


With the above description, you can easily compare and select the loan amount according to your needs, interest rates applicable, tenure period, processing fees for the loan amount, and more. If you need to get more details for applying for the loan, read the guidelines and visit the official site of IIFL.