IIFL Personal Loan

India Infoline Ltd. is India’s one of the most trusted NBFC. The headquarter of IIFL is at Mumbai. IIFL was founded on 17th October by Nirmal Jain. IIFL offers home loan, personal loan and Mortgage loan, Gold Loan, Loan against Car, Loan against fixed deposit, Loan against LIC Policy and many more to its customers. You can complete your dream by just taking a IIFL Personal Loan. IIFL Personal Loan giving their customer opportunities to make their life big. IIFL Personal Loan interest rate is lower than other NBFCs. They even give loan with lower credit score. Sometimes banks even don’t give personal loan for low cibil score or not for proper income proof but IIFL Personal Loan is giving their services to all its customers. You can check your IIFL Personal Loan Eligibility online. If you are facing any problems regarding your IIFL Personal Loan you can call to their customer care and can take the help of customer care executive. You also can check your IIFL Personal Loan application status easily online.

IIFL Personal Loan Features

• The maximum loan amount for IIFL Personal Loan is Rs.25lakh. They offer loan amount up to Rs.25lakh to its customer.
• The IIFL Personal Loan documents are very minimal. You just have to submit your address proof and your salary proof.
• The IIFL Personal Loan process is completely online so you can receive the instant approval for your loan.
• An applicant also can go for a E-Kyc and eSign through Aadhaar for loan processing that is faster than normal.
• The IIFL Personal Loan has attractive features and loan get disbursal within 24 hours.
• IIFL Personal Loan is giving personal loan both for salaried and self-employed.
• The age of borrowers for IIFL Personal Loan is 25 to 60 years.
• The tenure for IIFL Personal Loan is 12 to 60 months.
• IIFL Personal Loan interest rate is also very low it starts from 12.99% to 19.99%* .
• The lowest EMI for IIFL Personal Loan is Rs. 2,275 per lakh.
• With help of online facility you can repay your IIFL Personal Loan payment online.
• IIFL Personal Loan preclosure charges are zero if you want to close your IIFL Personal Loan after 12 months.

Benefits of IIFL Personal Loan

IIFL Personal Loan offers amazing benefits to its customers. IIFL Personal Loan offers Rs.1lakh to Rs. 25lakh personal loan. They even made the documentation simplified to reach more customers and also made it online. You can go for IIFL Personal Loan Login after you applied for the loan so you can check your IIFL Personal Loan application status. You also can go for IIFL Personal Loan online payment.

• Simple Documentation

  As said first IIFL Personal Loan does not need much documents for IIFL Personal Loan apply. You can apply with minimal documents and they are very customer-friendly.

• Service at your door

  IIFL’s online door step service help you to apply for IIFL Personal Loan from your doorstep which makes it simpler and convenient.

• Interest Rate

  IIFL Personal Loan offers lowest interest rate to its customer so it can be pocket friendly and beneficial to them.

• Hassle Free application

  You can apply on IIFL Personal Loan without any worries as they offer IIFL Personal Loan to everyone. Once you meet the IIFL Personal Loan eligibility criteria you will get your money transferred within 72 hours.

• Balance Transfer

  You can avail the benefit of personal loan balance transfer with the help of IIFL Personal Loan Balance Transfer. It will reduce the burden of your existing loan and if you want to you also can take a top loan with it because IIFL Personal Loan rate of interest is very low.

• Guarantor Free

  IIFL Personal Loan does not need any guarantor or collateral or security to approve your IIFL Personal Loan.

• Processing Fees

  The processing fees are very loan in IIFL Personal Loan when other NBFCs and Banks take 2% to 5% for processing fees. IIFL Personal Loan only takes 1.5% for processing Fees.

• Customer Care

  IIFL Personal Loan Customer Care service is so helpful if you face any problem regarding your loan they will help you. You just can call customer care executive for help.

• Tenure of Loan

  The tenure of your IIFL Personal Loan matters most in your loan. You can avail 1 to 5 years of tenure to repay your loan. Your interest rate also depends on loan tenure. If you take a loan for small tenure your interest rate will be low and if you take a loan for longer tenure your interest rate will be high. So it is advisable to go for a shorter tenure. Or you also can choose which suits you best.

• Check Your Eligibility Online

  If you want to take an IIFL Personal Loan and want to check your eligibility on IIFL Personal Loan Eligibility Calculator.

Eligibility for IIFL Personal Loan

If you are someone who are opting for IIFL Personal Loan you should know the eligibility criteria’s of IIFL Personal Loan.

• He/ She must be salaried or self-employed.
• The monthly income should be at least Rs. 35,000.
• The age applicant should be in between of 25 to 60 years.
• The applicant should be resident of any of these following cities-
  • Kolkata
  • Delhi and NCR
  • Bengaluru
  • Pune
  • Mumbai (including Vashi and Thane)
• The applicant should have worked at least for six months on current organization.
• The total work experience of the applicant for IIFL Personal Loan should be at least for two years.
• The minimum CIBIL Score for IIFL Personal Loan should be at least 600.

Documents required for IIFL Personal Loan

• Salaried

• Duly signed IIFL Personal Loan application form with passport photographs.
• Identity Proof and age proof (PAN Card/ Driving License/ Passport/ Voter ID/ Aadhaar Card etc)
• PAN Card (Must)
• Address proof (Aadhaar Card/Passport/ Landline Bill/ latest electricity bill/ Rent Agreement)
• Last Six months Bank statement
• Salary slips of last 3 months.
• If currently, you are paying any EMI for Credit Card or Personal Loan.

• Self-Employed

  • Correctly signed IIFL Personal Loan application form with passport photographs.
  • Identity Proof and age proof (PAN Card/ Driving License/ Passport/ Voter ID/ Aadhaar Card etc)
  • Address proof (Aadhaar Card/ Passport/ Landline Bill/ latest electricity bill/Rent Agreement)
  • TAN Card
  • Last three years of balance sheet along with profit and loss in business.
  • Last six months of bank statement of individual and business entity.
  • If currently, you are paying any EMI for Credit Card or Personal Loan.

IIFL Personal Loan Charges

Before you take any personal loan you should know the what the IIFL Personal Loan Charges are. Here is a brief about all the charges of IIFL Personal Loan.

• Part Payment Charges

  Part Payment is not allowed on IIFL’s Personal Loan.

• Preclosure Charges

  As said before IIFL Personal Loan care about their customers so much so there are no pre closure charges after 12 months.

• Processing Fee

  IIFL Personal Loan charges a processing fees of 1-2% of loan amount with taxes.

• Other Charges

  After your loan is sanctioned by IIFL Personal Loan they will give you a list of other charges like pre payment charges, late payment charges, cheque bounce charges, loan cancellation charges.

IIFL Personal Loan Interest Rate Calculator

You can calculate your IIFL Personal Loan rate of interest easily by the help of your loan amount, salary, and your current company and also your Credit Score makes really big impact on your IIFL Personal Loan rate of interest.

• Loan Amount

  Loan amount matters a lot on your interest rate. A loan amount is borrowed by borrower from NBFC. Basically IIFL Personal Loan offers loan in between Rs. 50,000 to Rs. 25, 00,000.

• Salary amount

  Your current income shows that how much you are eligible to repay your IIFL Personal Loan. If you are someone with higher salary your IIFL Personal Loan rate of interest will be low.

• CIBIL Score

  To be the eligible candidate for IIFL Personal Loan you should have a good CIBIL Score. CIBIL Score stands for your repayment ability so if you have high cibil y0ur IIFL Personal Loan rate of interest will be low and if you have low CIBIL your interest rate will be high. Minimum IIFL Personal Loan CIBIL Score is 650. To make your CIBIL high you have to pay your IIFL Personal Loan payment on time.

• Company Category

  IIFL Personal Loan has internal a list of companies and they had made categories regarding those companies like CAT-A, CAT-B etc. Bank made this categorization based on company’s size, reputation and existing relation with bank. Employees who belong from higher companies always get amazing discounts and low interest on loans.

• Loan Tenure

  IIFL Personal Loan offer a loan tenure from 12 months to 60 you can choose your tenure as per your choice but you go for higher tenure you have to pay more interest.

• Repayment Capacity

  Before you take any loan you should remember one thing that you have to repay your loan nothing is free so take the loan amount you need do not take extra. No one like a debt burden in their soldier. Even if you get cold calls for higher loan amount don’t fall for it.

IIFL Personal Loan Interest Rates, Fees & Charges

IIFL Personal Loan Other Fees and Charges

Points you should remember before taking Personal Loan

• Personal Loans are a type of installment loan. Which means applicator will borrow a fixed amount of loan from bank or NBFC. Borrower has to pay back to the bank or NBFC by installments in 12 to 60 months with interest. Once you have paid the loan your loan account gets closed.
• If you need 3Lakhs then just borrow 3Lakhs from bank or NBFC don’t borrow excessive money only because you have eligibility. You will receive cold calls, e-mails or messages from bank or NBFC but don’t fall for it.
• Banks and other financial institutions who give the personal loan always check the CIBIL Score before giving you personal Loan. So you have to maintain the score. You have to pay your EMIs on time. Because if you have high CIBIL Score your interest rate will be low.
• Personal Loans are more difficult to get because it is an unsecured loan so bank or NBFCs can’t take any of your property if you can’t repay the loan and interest rate is higher than any other loan.
• Personal Loans have fixed interest rate. It doesn’t change by time if you got a loan on 15%* interest rate it would be the same till the last date of your repayment.
• Penalty Charges are heavy on personal loans if you missed an EMI that Bank or NBFC have right to charge you. And it also affects your CIBIL Score. So pay your loan on time.