How To Apply Online For IIFL Personal Loan?

When you apply for IIFL Bank Personal Loanyou will likely be approved for a personal loan at a good rate. There is no better way to get a personal loan than with an IIFL BANK. They have been around long enough to establish a good track record. Also, banks that have branches in your city or area will probably give you a better interest rate as well as other added benefits. For instance, many banks will offer incentives for making your payments on time. 

IIFL Bank Personal Loan Online 

Many people prefer to apply for IIFL BANK PERSONAL LOAN online. Why? Because it is fast and easy. Instead of driving all over town searching for the perfect loan, you can conduct the search online and then go visit the bank in person or even online to get the loan. Here are some steps mentioned under:  

  • First, visit the official website of IIFL Bank. You can also apply for IIFL Personal Loan.  
  • Then, fill in personal, professional, and financial details as required by the lender and submit the form.  
  • Once you have submitted the application form, the IIFL Bank representative will check your eligibility and provide you with information about the eligible amount of the loan.  
  • Once you agree to the process application, then you would be required to submit the essential documents which can be uploaded online.  
  • In the end, your documents will be processed by IIFL, and after the successful approval of the loan, the funds will be disbursed into your account immediately.  

Eligibility criteria of IIFL Bank Personal Loan  

Particulars   Eligibility criteria  
Age  Starting from 25 years to 60 years 
Employment Status  Salaried individual 
Citizenship  Resident citizen of India 
Minimum Net Salary  Rs.35,000 or more 
Residing in one of the following cities  Delhi NCR, Mumbai, Pune, and Bengaluru 
Work experience in the current job  Should be in the organization for at least 6 months 
Total work experience  Should have at least 2 years of job experience 


Types of personal loan offered to the IIFL Personal Loan users 

There are several types of IIFL Bank Personal Loan offered to the user, some of these are mentioned as under:  

  • Unsecured personal loan 

The first one is called the unsecured personal loan. This type of loan has a much higher interest rate than other types of loans. This rate is usually determined by your credit rating and whether or not the bank feels you will be able to pay back the loan. The reason they set the highinterest rate is that they need to be certain you can make the monthly payments. If you can’t, then they will lose the money they loaned to you. 

  • Secured personal loan 

Another type of IIFL BANK PERSONAL LOAN is the secured loan. This one requires some sort of collateral to secure the loan. The collateral is usually property, but it could also be something as simple as an automobile. If you are unable to pay the loan off on time, the bank can repossess your collateral and sell it to recoup their losses. This type of loan usually has a much lower interest rate than an unsecured loan, which means you will be able to afford to make your monthly payments. 

How IIFL Personal Loan is different from others? 

When you use the Internet to obtain an IIFL Bank Personal Loan, there are many options available to you. For instance, you could visit a bank near you or search online. You will be able to view the different loan options that a particular bank has to offer. With so many different choices to choose from, you can almost guarantee that you will find a loan that fits your needs and budget. Some banks will even offer you loans online. 

Particulars  IIFL Personal Loan  Bajaj Finserv Personal Loan  Federal Bank Personal Loan (FedPremia)  SBI Personal Loan 
Interest rate  13.49% p.a. onwards  12.99% p.a. onwards  10.00% p.a. to 27.00% p.a.  10.50% p.a. above  
Processing fee  Up to 2% of the loan amount + GST  The maximum rate is 3.99% of the loan amount  Up to 3.00% of the loan amount  1% of the loan amount including applicable GST 
Foreclosure charges  Up to 6%  4% + applicable taxes on the outstanding principal amount  Nil for Floating Rate Schemes; 3% for Fixed Rate Schemes  3% of the outstanding loan amount 



When you want to borrow money from an institution likIIFL Bank for personal loan, you must go through a formal application process. These days, most people simply fill out an online form and the money is instantly sent to their account. You can also use IIFL Bank personal loan Internet banking for balance transfer or any other transaction online. This is great because you can log into the IIFL Bank website, create your financial portfolio, and check your loan progress all from the comfort of your computer. It really couldn’t be any easier but it is advised that you can get more benefit from IIFL Personal Loan than any other bank.  

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