Capital First Personal Loan Interest Rates

4.5

Capital First is known to be one of the most prominent financial organisations in India, providing various services in the personal loan industry. The personal loans provided by Capital First can be used to cover any urgent financial need, such as a wedding, medical procedures, home repairs, trip for enjoyment, etc.

  • Personal Loan offer for You

  • 10.49%

    Interest Rate (p.a.)
  • ₹1L - ₹40L

    Tenure(1 - 5 Years)
  • ₹2,149

    EMI Per Lakh
  • 10.49%

    Interest Rate (p.a.)
  • ₹1L - ₹40L

    Tenure(1 - 5 Years)
  • Up to 2.49% of the loan amount

    Processing Fee

Compare Capital First Personal Loan Interest Rates with Other Lenders

The table below compares Capital First Personal Loan Interest rates with other banks and lending institutions.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • CASHe PL Interest Rate

  • 27%

  • We offer a 2.50% interest rate per month (Equivalent to reducing the balance interest rate to 3.71% per EMI) on the loan amount.

  • 4.5

  • ₹1K - ₹4L

    Tenure(7 - 45 Years)

  • Prefr PL Interest Rate

  • 15% - 36%

  • 3-5% with Minimum Proc. Fee of INR 1500 + GST

  • 4.5

  • ₹50K - ₹5L

    Tenure(1 - 4 Years)

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Capital First Personal Loan Interest Rates Overview

Capital First, now known as IDFC FIRST Bank, is a leading financial institution offering various personal loan options to customers across India. Personal loans from Capital First are available for multiple purposes, including home renovation, travel, wedding expenses, medical emergencies, and more.

 The interest rates for Capital First personal loans are competitive and can vary based on factors such as the borrower's credit score, loan amount, and repayment tenure. Generally, the interest rates for Capital First personal loans range from 11.25% to 19.99% per annum. Additionally, the bank offers flexible repayment options and quick loan disbursal, making it a popular choice for those seeking personal finance solutions.

Features and Benefits of Capital First Personal Loan 

Capital First personal loans may offer the following features and benefits:

  1. Low-interest rates: Capital First personal loans may come with competitive interest rates, making them an affordable financing option.
  2. No hidden costs and administrative charges: With Capital First personal loans, you may not have to worry about any charges, making it easier to budget and plan your repayments.
  3. Less paperwork: Capital First personal loans may have a simplified application process so that you can avoid much documentation.
  4. Long tenure: Capital First personal loans may offer a more extended repayment period, giving you ample time to repay your loan without stress.
  5. Minimum income requirement: Capital First may have a low minimum income requirement, making it accessible to a broader range of borrowers.
  6. Attractive offers for pensioners: Capital First personal loans may come with attractive offers, making it easier to meet their financial needs.

Factors Affecting Capital First Personal Loan 

Several factors can affect the approval and terms of a Capital First personal loan. These factors include- 

  1. Credit Score: Your credit score is crucial in determining whether you are eligible for a personal loan from Capital First. A good credit score can increase your approval chances and help you secure better interest rates and terms.
  2. Income: This is another essential factor when approving personal loans. The higher your income, the greater your chances of approval.
  3. Employment History: Capital First may also consider your employment history when reviewing your loan application. A stable job and steady income can improve your chances of approval.
  4. Loan Amount: The loan amount you seek may also affect your personal loan terms. Significant loan amounts may require stricter eligibility criteria, higher interest rates, or extended repayment periods.
  5. Debt-to-Income Ratio: Your debt-to-income ratio is the amount of debt relative to your income. A lower debt-to-income ratio can improve your chances of approval and help you secure better loan terms.
  6. Loan Purpose: Capital First may also consider the purpose of the loan when determining eligibility and loan terms. Some loan purposes may be considered riskier than others, affecting the interest rate or repayment period.
  7. Collateral: If you are applying for a secured personal loan, the collateral you offer can also affect the loan terms. The value and type of collateral may determine the loan amount, interest rate, and repayment period.

How to Calculate Capital First Personal Loan Interest Rate and EMI?

The interest rate and EMI for a Capital First personal loan depend on several factors, such as the loan amount, the repayment tenure, and the borrower's creditworthiness. Here's how you can calculate the interest rate and EMI for a Capital First personal loan:

  • Interest rate calculation:

Check the current interest rate offered by Capital First for personal loans.

Decide on the loan amount and repayment tenure you want to apply for.

Use an online personal loan calculator or an Excel sheet to calculate the interest rate based on the loan amount, tenure, and interest rate offered by Capital First.

  • EMI calculation:

Use an online EMI calculator or an Excel sheet to calculate the EMI based on the loan amount, repayment tenure, and interest rate calculated in the previous step.

Enter the loan amount, repayment tenure, and interest rate in the EMI calculator, which will give you the monthly EMI you need to pay.

Alternatively, you can also use the formula to calculate EMI manually: 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where:

P is the loan amount

R is the monthly interest rate

N is the number of months in the repayment tenure.

How to Get Low-Interest Rates on Capital First Personal Loan?

Capital First is a non-banking financial institution in India that provides personal loans at competitive interest rates. If you're looking for a Capital First personal loan, here are some tips to help you get a low-interest rate:

  • Good Credit Score: A good credit score is crucial in getting a low-interest rate on your loan. Like most other financial institutions, Capital First considers your credit score before deciding on your loan application. You're more likely to get a lower interest rate if you have a high credit score.
  • Stable Employment: A stable job and a consistent source of income are essential when applying for a personal loan. Capital First may offer lower interest rates to applicants with a stable job with a steady income.
  • Compare Interest Rates: It's always a good idea to compare interest rates offered by different financial institutions before settling on one. You can use online comparison websites to check the interest rates of other lenders and choose the one that suits you best.
  • Loan Amount: The loan amount also affects the interest rate on your loan. Generally, the higher the loan amount, the lower the interest rate. However, taking out a loan that you can comfortably repay is essential.
  • Shorter Loan Tenure: A shorter loan tenure may also result in a lower interest rate. Capital First offers personal loans with repayment tenures ranging from 12 to 60 months. Choosing a shorter tenure may help you save on interest charges.
  • Negotiate: Be bold and negotiate with the lender for a lower interest rate. You can negotiate a lower interest rate if you have a good credit score and a stable income.

Capital First Personal Loan Fees and Charges

The table below shows Capital First personal loan fees and additional charges. 

Interest Rate of 10.49% p.a.
Processing Charges Up to 3.5%
Prepayment Charges NIL
Stamp Duty NIL
Cheque Bounce Charges As per Bank
Penal Interest As per Bank

Personal Loan by Other Banks

Frequently Asked Questions (FAQs)

What is a Capital First personal loan?

Capital First personal loan is an unsecured loan provided by Capital First, a non-banking financial company (NBFC) in India, to individuals who meet the eligibility criteria. The loan can be used for various purposes, such as home renovation, wedding expenses, medical bills, etc.

What are the eligibility criteria for a Capital First personal loan?

The eligibility criteria for Capital First personal loans may vary depending on the specific loan product. However, generally, the borrower must be an Indian citizen between the ages of 21 and 60, have a stable income, and meet the minimum income requirements. The borrower’s credit score and credit history may also be considered.

What maximum loan amount can be availed through Capital First personal loan?

The maximum loan amount available through Capital First personal loan may vary depending on the specific loan product and the borrower’s eligibility. However, the loan amount generally ranges from Rs. 1 lakh to Rs. 25 lakhs.

What is the repayment period for a Capital First personal loan?

The repayment period for Capital First personal loan may vary depending on the specific loan product and the borrower’s preference. However, generally, the loan can be repaid over 1 year to 5 years.

How can I apply for a Capital First personal loan?

You can apply for a personal loan by visiting the Capital First website or any of their branches. You will need to provide your personal and financial details and any relevant documents. You may also be required to undergo a credit check and meet the eligibility criteria before the loan is approved.

Urban Money