Capital First Personal Loan
Capital First Ltd. is now known as IDFC FIRST Bank after its merger with IDFC Bank in December 2018. IDFC FIRST Bank offers personal loans with interest rates starting at 9.75% p.a. and a processing fee of 1% to 2% of the loan amount. The loan tenure ranges from 12 to 60 months, and the minimum and maximum loan amounts are Rs. 50,000 and Rs. 75 Lakh, respectively.
Unlock Best Personal Loan Offers From Capital First Ltd
Features and Benefits of Capital First Personal Loan
Capital First Ltd personal loans are one of the most lenient and exclusive loan offerings. You can borrow this loan for a number of end uses like wedding, home renovation, higher studies, or any emergency at nominal interest rates. Given below are some of the other features and benefits of this loan offering:
- Hassle-free Application: Anyone can apply for a personal loan from Capital First. Any prospective borrower can check their eligibility and apply for a loan on the official website in just a couple of clicks.
- High Loan Amount: The ideal applicant can get a loan amount as high as Rs. 25 lakh, subject to repayment ability of the applicant.
- Flexible Loan Tenure: A personal loan from Capital First can be availed for flexible loan tenures ranging from 12 months to 60 months.
- Borrow Extra Funds: Capital First Ltd personal loan borrowers can avail a low-cost top-up option to all of the existing customers.
- No Security: This personal loan offered by Capital First does not require any sort of security or collateral against the loan amount.
Capital First Personal Loan Overview
Capital First Ltd is registered as a Non-Banking Financial Institution in India that provides debt financing services to Indian consumers, MSMEs, and entrepreneurs. Established in 2012, the company was later listed on the National Stock Exchange and Bombay Stock Exchange. The company currently has a market cap of over ₹60.96 billion. Capital First provides personal loans with interest rates starting from 12% per annum. This loan can be availed by both self-employed and salaried employees with loan tenures ranging up to 5 years. In this piece, we will take a look at the Capital First Ltd personal loan in detail.
The Capital First Personal Loan can be availed to meet a number of end use purposes like higher education, medical expenses, purchasing furniture, purchasing vehicles, home renovation, etc. The company offers personal loans ranging from Rs. 1 lakh to Rs. 25 lakhs. This is a fixed rate personal loan with interest rates ranging from 12% to 18% per annum. The loan tenure ranges from 1 year to 5 years, the borrower can pay off the loan in easy monthly instalments via PDC, ECS, or auto debit. This is one of the most sought after loan products in the country owing to the low documentation requirement and quick loan disbursal.
Capital First Personal Loan Interest Rates
You can obtain a personal loan from Capital First Ltd with interest rates ranging from 12% to 18% per annum. The actual interest rate offered to you depends on the loan amount, tenure, credit profile, and a number of different factors.
Factors Affecting Capital First Personal Loan Interest Rates
The affordability of a personal loan is mainly dependent on the interest rate. A higher rate of interest naturally means a higher EMI amount. Capital First Ltd. does not levy a uniform interest rate to all borrowers. This decision is affected by multiple factors. The personal loan interest rates are determined by taking into consideration the below given factors:
The applicant’s income is the foremost consideration for a personal loan application. The higher the income, the greater the chances of being sanctioned a loan with low interest rates. The bank needs to assess your ability to repay the loan without it being an additional financial burden. In order to sanction a personal loan, the bank needs to be confident about the customer’s repayment ability. This is only attained when the applicant’s income is above a certain threshold.
Before the loan application is processed, most loan providers will assess your credit score to get an understanding of your credit history. A credit score is a 3-digit number assigned to every individual by the credit bureau. This ranking is assigned to a borrower based on their credit behaviour. A good credit score is an indicator that you can manage your finances and credit lines well, and that you can repay your loans on time. An applicant with a healthy credit score can get a loan at low interest rates.
Applicant’s working for renowned companies can be more likely to be sanctioned personal loans with lower interest rates. The bank considers such employees to have a stable professional career and hence would be capable of making regular repayments. Loans to such applicants are sanctioned at lower rates of interest.
Past Credit Behaviour
In addition to the credit profile, the lenders also assess the previous payment behaviour before determining the personal loan interest rate. If a bank determines that you have displayed a disciplined approach to loan repayment, you will be sanctioned a loan with a lower interest rate. Most banks and financial institutions prefer applicants who do not have a history of default in the last 12 months. People who have defaulted in the past 12 months might get a loan at high interest rates, or can even get their loan application rejected.
Relationship With Lender
A history of opening fixed deposit accounts or savings accounts with your lender can make you a loyal customer. This loyalty can help in creating a relationship with the bank which may help you get favourable interest rates. An existing cordial relationship brings about a sense of leverage, since the bank wouldn’t want to lose a loyal customer like you.
Capital First Ltd Personal Loan Fees and Charges
In addition to the interest rate, a personal loan from Capital First is available at certain expenses in the form of various fees and charges. These are the costs incurred during the processing and documentation of the loan. Given below are some of the Capital First Ltd Personal Loan Fees and Charges:
|12% to 18% per annum
|Up to 1.5% of the approved loan amount (Minimum of Rs. 1999)
|There is a lock-in period of six months. After this period, prepayment charges of 5% of the outstanding amount are applicable.
|Late EMI Payment
|Rs. 400 per month
|Cheque Swapping Charges
|Rs. 500 per instance
|Cheque Bounce Fee
|Rs. 400 per instance
|Loan Cancellation Fee
Documents Required for a Capital First Ltd Personal Loan
Capital First offers attractive personal loans to its applicants after a thorough assessment of the documents given below:
|Application Form duly filled
How is the EMI Calculated for a Capital First Personal Loan?
Given below is the formula that Capital First uses to calculate the EMI on their personal loans:
EMI = P × r × (1 + r)n/((1 + r)n - 1)
In this formula,
- P stands for the principal loan amount
- r denotes the applicable interest rate
- n is the loan tenure
The EMI for a personal loan is directly proportional to the loan amount borrowed and interest rate and inversely related to the tenure of the loan. This implies, the higher the interest rate and loan amount, the higher the EMI amount. Inversely, a longer loan tenure will lead to a lower EMI amount.
How Does Capital First Ltd Personal Loan Compare to Other Lenders?
The table given below depicts a comparison between a personal loan from Capital First and other lenders in the market:
|Up to 2.25%
|Up to 3%
|Up to 2%
|Up to 3.99%
|Up to 2.50%
|1.50% to 2%
|10.50% to 19.25% per annum
|Starting from 10.49%
|15.75% to 24% per annum
|Starting from 12.99%
|10.49% to 21.50% per annum
|12% to 18% per annum
|Up to Rs. 20 lakh
|Up to Rs. 30 lakh
|Rs. 50,000 to Rs. 15 lakh
|Up to Rs. 25 lakh
|Up to Rs. 40 lakh
|Up to Rs. 25 lakh
|1 to 5 years
|1 to 5 years
|1 to 5 years
|1 to 5 years
|1 to 5 years
|1 to 5 years
Capital First Ltd Personal Loan Customer Care Number
All applicants and existing loan customers of Capital First Ltd can take care of their loan executive services on the toll-free number 1860-500-9900. The fully trained and experienced customer service representatives are available on this number from 9 AM to 8 PM, Monday to Saturday.
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Capital First Ltd's Other Products
Personal Loan By Other Banks
- Bank of Baroda Personal Loan
- Axis Bank Personal Loan
- HDFC Bank Personal Loan
- ICICI Bank Personal Loan
- Bajaj Finserv Personal Loan
- IndiaBulls Personal Loan
- Canara Bank Personal Loan
- Union Bank of India Personal Loan
- DHFL Personal Loan
- CITI Bank Personal Loan
- YES Bank Personal Loan
- Federal Bank Personal Loan
- IndusInd Bank Personal Loan
- State Bank of India Personal Loan
- Hero FinCorp Personal Loan
- Punjab National Bank Personal Loan
- IDFC FIRST Bank Personal Loan
- IDBI Bank Personal Loan
- Kotak Bank Personal Loan
- MoneyWide Personal Loan
- Ujjivan Small Finance Bank Personal Loan
- Muthoot Finance Ltd Personal Loan
- Shriram Urban Co Operative Bank Limited Personal Loan
- Tata Capital Housing Finance Limited Personal Loan
- HDFC Sales Personal Loan
- Indian bank Personal Loan
- Poonawalla Fincorp Limited Personal Loan
- Tata Capital Financial Services LTD Personal Loan
- Clix Capital Personal Loan
- Aditya Birla Finance Limited Personal Loan
- L&T Finance Personal Loan
- HSBC Personal Loan
- Reliance Capital Personal Loan
- Bank of India Personal Loan
- Fullerton India Personal Loan
- PaySense Personal Loan
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- Loantap Credit Products Private Limited Personal Loan
- Privo Personal Loan
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Mutual Fund Scheme
Gold & Silver Rate
From refinancing to reducing your interest, we have the answers right here.
What is the interest rate of a personal Loan in Capital First Ltd?
What are the benefits of a Capital First Ltd personal loan?
Some of the benefits of a Capital First Ltd personal loan are quick application process, swift loan disbursal, top-up facility, and flexible loan tenure.
Does Capital First Ltd have a fixed rate or floating rate of interest?
Capital First offers personal loans at fixed interest rates ranging from 12% to 18% per annum.
What are the documents required for a Capital First Ltd personal loan?
In order to avail a personal loan from Capital First Ltd, the applicant will be required to submit a set of identification documents, address proof documents, and financial statements.
How to apply for a personal Loan in Capital First Ltd online?
You can apply for a Capital First Ltd personal loan online on their official website by filling out a few details and submitting supporting documents.
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