IDFC First Bank Short Term Loan

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Hepson Franklin

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Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Small loans, which are alternatively referred to as short-term loans, serve as unsecured personal loans of limited amounts that individuals can utilise to fulfil their minor financial requirements. These loans are conveniently accessible, and borrowers also enjoy the benefit of flexible repayment terms. It comes as no shock, therefore, that short-term loans are becoming increasingly favoured, considering the advantages. IDFC First Bank short-term personal loan

offers competitive interest rates starting at 10.75%, with a completely digital and paperless online application process. Additionally, they provide the option of balance transfer for existing personal loans and credit cards at affordable rates, with a flexible tenure of up to 84 months.

Features & Benefits of an IDFC First Bank Short-Term Personal Loan

The following are some of the key features and benefits of an IDFC First Bank short-term personal loan:

Feature	Benefit
Streamlined Procedure	Arranging funds quickly can be achieved through a small loan. Many top banks and financial institutions offer the convenience of applying for a small loan online. To obtain an IDFC First Bank short-term personal loan, all you need to do is visit their official webpage and click on the ‘Apply Now’ link. Follow a few simple steps to complete the application process.
Low-Interest Rate	When an individual with a strong credit history gets a small loan, they may enjoy the advantage of a substantially reduced interest rate.
Instant Loan Transfer	IDFC First Bank short-term personal loan provides the option to convert current loans into a small personal loan. This allows individuals to take advantage of the appealing interest rates offered by banks for transferring loan balances from other financial institutions.
Flexible Repayment Tenure	IDFC First Bank offers small personal loans with a repayment tenure that provides flexibility. The loan period for these loans ranges from six months to five years.

*Note: The interest rate and other processing costs may vary depending on the loan type and region, as stipulated by the bank’s terms and conditions.*

Why you should need IDFC First Bank short-term personal loan

IDFC First Bank short-term personal loan provides several advantages to the users.

Flexible Loan Tenure
Minimal Documentation
Reputable Institution
No Prepayment Penalties
Easy Availability

Eligibility Criteria

IDFC First Bank short-term personal loan eligibility criteria is as follows:

Salaried Individuals

Minimum Age: 23

Maximum Age: 60

Self-Employed Individuals

Minimum Age: 25

Maximum Age: 65

Documents needed for Instant Personal Loans

Documents required for IDFC First Bank short-term personal loan include:

PAN Card
ID Proof (Aadhar Card/ Valid Passport/ Driving License/ Voter’s ID Card)
Utility Bill

Income Document (Salaried/ Self-Employed)

RBI Approved Account Aggregator Process/ Bank Statement
Ownership Proof

Things to consider while opting short-term personal loan

Consider the following when choosing a short-term personal loan from IDFC First Bank:

Interest Rates
Repayment Flexibility
Loan Amount
Documentation and Processing
Eligibility Criteria
Credit Score Impact
Additional Fees

Apply for IDFC First Bank short-term personal loan online

When it comes to applying for a short-term loan from IDFC First Bank, Urban Money is the ultimate companion. Our team of professionals is here to provide comprehensive support throughout the entire application process. Whether it’s filling out the necessary forms or submitting the required documents, we’ve got you covered. To get started, just visit our website at www.urbanmoney.com.

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Frequently Asked Question (FAQs)

How Does IDFC First Bank Term Personal Loan Work?

IDFC First Bank’s term personal loan involves a simple process: Apply online or at a branch, submit necessary documents, get eligibility assessed, and upon approval, the loan amount is disbursed to your account. Repayment is through EMIs, based on the loan amount, interest rate, and chosen tenure. The bank assesses your creditworthiness to determine the loan terms.

How Can An IDFC First Bank Short-Term Loan Help You?

IDFC First Bank’s short-term Loan is designed to provide financial assistance in times of unexpected expenses, address temporary cash flow issues, support immediate requirements such as travel or medical emergencies, and cater to various other short-term needs.

How much amount I can get through First Bank's short-term personal loan?

IDFC First Bank’s short-term loan allows an eligible person to borrow up to 50 Lakhs.

What is the minimum tenure of an IDFC First Bank short-term loan?

The minimum tenure for an IDFC First Bank short-term personal loan is 6 months, with the option to extend up to 60 months.