IDFC First Bank Personal Loan of 10 Lakh

Unlock financial freedom with IDFC First Bank personal loan 10 Lakh. Tailored for diverse needs, it offers competitive interest rates, flexible terms, as well as a hassle-free application process. This loan ensures swift access to substantial funds, whether for home renovations, special occasions, or unexpected expenses. Experience convenience, transparency, and quick approvals. Your financial goals are empowered by IDFC First Bank. Apply now and turn aspirations into reality.

Personal Loan Options for 10 Lakh in IDFC First Bank

Here is the detailed overview of personal loan options for IDFC First Bank personal loan 10 Lakh:

Features of Bank 10 Lakh Personal Loan

Unlock a world of financial possibilities with IDFC First Bank’s 10 Lakh Personal Loan, tailored to meet diverse needs. Here are the standout features:

• Substantial Loan Amount: Secure a significant loan amount of up to Rs. 10 lakh to address various financial requirements.
• Versatile Usage: Utilise the loan for a multitude of purposes or unforeseen financial needs.
• Competitive Interest Rates: Benefit from competitive 10 Lakh loan interest rates, starting at 10.75% p.a., ensuring cost-effective borrowing.
• Swift Approval Process: Enjoy a streamlined approval process, ensuring quick access to funds for eligible applicants.
• Digital Application for Convenience: Women with a monthly salary exceeding 5,000 rupees can leverage a quick and easy digital application process via Mobile Banking.
• Flexible Repayment Options: Experience the flexibility of part payments, enabling efficient financial management.

Can I Get a 10 Lakh Personal Loan Instantly From IDFC First Bank?

Yes, you can secure a 10 Lakh Personal Loan promptly through IDFC First Bank. Tailored to meet diverse financial needs, this loan offers a straightforward online application process for instant access to funds. Enjoy competitive interest rates starting at 10.75% per annum, making it an attractive and cost-effective financial solution. The bank prioritises a swift approval process, providing eligible applicants with quick and convenient access to the desired loan amount. Empower your financial journey with IDFC First Bank’s seamless and efficient lending experience. Apply today!

What Is the EMI for a 10 Lakh Loan?

10 Lakh personal loan EMI depends on the interest rate and the chosen loan tenure. At an interest rate of 10.49% for a 3-year tenure, the EMI would be approximately INR 32,498 per month. For a 5-year tenure at an interest rate of 21.99%, the EMI would be around INR 27,613 monthly. You can calculate your specific EMI using the following formula: 

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

Here, P is the principal money, R is the monthly interest rate, and N is the total number of monthly installments.

Eligibility Criteria 10 Lakh Loan in IDFC First Bank

To qualify for a 10 Lakh personal loan eligibility IDFC First Bank, applicants must meet specific eligibility criteria based on their employment status:

For Salaried Individuals:

• Minimum Age: 23 years
• Maximum Age: 60 years of age or retirement, whichever comes earlier.

For Self-Employed Individuals:

• Business Existence: Minimum 3 years
• Minimum Age: 25 years
• Maximum Age: 65 years at the time of loan maturity.

Documents Required 10 Lakh IDFC First Bank Loan

10 Lakh personal loan document IDFC First Bank verification requires the following: 

Proof of Identity:

• Passport
• Aadhar Card
• Driving License
• Voter ID

Proof of Address:

• Utility bills (electricity, water, gas)
• Aadhar Card
• Passport

Proof of Income:

• For Salaried Individuals: Latest salary slips and bank statements.
• For Self-Employed Individuals: Income tax returns and business continuity proof.

Age Proof:

• Birth certificate
• Passport

Photographs:

• Passport-sized photographs

How to Apply for a 10 Lakh Personal Loan From Urban Money?

Urban Money simplifies the instant 10 Lakh loan IDFC First Bank  application process, making it convenient for borrowers. Here’s a step-by-step guide on how to apply for a 10 Lakh Personal Loan from Urban Money:

1. Visit Urban Money’s Website: Go to Urban Money’s official website to access their online loan application portal.
2. Create an Account: If you’re a new user, register by providing the necessary details to create an account on the platform.
3. Sign In: Log in to your account.
4. Fill in Personal Details: Complete the required personal information, including your name, contact details, and address.
5. Specify Loan Amount: Indicate that you are applying for a 10 Lakh loan and specify the purpose of the loan.
6. Upload Documents: Urban Money may require documentation for verification. Upload necessary documents securely through their portal.
7. Review and Submit: Review all the information to ensure completeness and accuracy. Submit your loan application.
8. Wait for Approval: Urban Money will assess your application. Once approved, you will receive details about the loan terms and conditions.
9. Accept Loan Terms: If satisfied with the terms, accept them. Funds will be paid to your provided bank account upon acceptance.
10. Repayment and Customer Support: Familiarise yourself with the repayment schedule and contact Urban Money’s customer support for any queries.