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IDFC First Personal Loan Eligibility

Before you go for IDFC First Personal Loan Eligibility apply online, it is always better to check IDFC First Personal Loan Eligibility using IDFC First Personal Loan Eligibility Calculator. For IDFC Bank Personal Loan apply online, you can easily check your eligibility using IDFC Bank Personal Loan Eligibility Calculator which is an online tool which no extra penny to spend upon. If you use IDFC Bank Personal Loan Eligibility Calculator to calculate IDFC Bank Personal Loan Eligibility criteria, you will get an idea whether you are eligible to get personal loan or not. In case IDFC Bank Personal Loan Eligibility criteria is low, you can work on the factors which is lowering IDFC Bank Personal Loan criteria and can progress to be more eligible for getting a personal loan.

How would you calculate IDFC First Bank Personal Loan Eligibility?

IDFC Bank Personal Loan Eligibility Calculator helps to check IDFC Bank Personal Loan Eligibility criteria online which is very easy and time saving tool. To have IDFC Bank Personal Loan Eligibility high, you must have a stable job with a high salary, good credit score and repaying capability.

IDFC Bank Personal Loan Eligibility Calculator calculates IDFC Bank Personal Loan Eligibility using two methods-

  • Multiplier Method

    Using this easy method, based on your nety take home salary and company profile, the bank applies a multiplier.

    IDFC Bank Personal Loan Eligibility= Net take home salary*multiplier of 9 to 22

    Higher the company profile and take home salary, higher the multiplier and higher IDFC Bank Personal Loan Eligibility.

  • FOIR

    It is commonly known as Fixed Obligation Income Ratio. Based on your liabilities like credit card outstanding balance and EMI payments, your FOIR must be within 50% to 75% of your income.

    FOIR= (Sum of fixed obligations/Net take home salary)*100

    If your FOIR exceeds 75%, then IDFC Bank Personal Loan Eligibility will be low. For a normal earning class, the FOIR must lie between 50% to 65% and for a high earning class, the FOIR must not be above 75%.

Which factors affect IDFC First Bank Personal Loan Eligibility Calculator?

IDFC Bank Personal Loan Eligibility Calculator calculates eligibility when you opt for IDFC Bank Personal Loan apply online. Personal loan is an unsecured loan which does not require any collateral to keep with the bank so, IDFC Bank Personal Loan Eligibility criteria is really high as if you fail to payoff your loan, the bank cannot claim anything.

The factors which affect IDFC Bank Personal Loan Eligibility Calculator are as follows-

  • Age

    When you go for IDFC Bank Personal Loan apply online, age of the applicant is an important factor which affect IDFC Bank Personal Loan Eligibility criteria. The age limit must be in between 21 and 60 years. The more younger age you apply for IDFC Bank Personal Loan apply online, the higher will be IDFC Bank Personal Loan eligibility.

  • Credit Score

    For a higher IDFC Bank Personal Loan Eligibility, you must have a higher credit score that is 750 or above. Your creditworthiness reflects in your credit score. A higher credit score helps in maintaining a higher IDFC Bank Personal Loan Eligibility online.

  • Employment

    In order to have IDFC Bank Personal Loan Eligibility high, your employment stability is very important. For a non-salaried individual, your yearly turnover must be in accordance with the bank’s norms and should have a minimum 5 years of experience. For salaried individual, if you work in a high profile company for more than 1 year which is listed under CAT A category and also earning a higher income, then IDFC Bank Personal Loan Eligibility criteria will be really high.

  • Location

    The location of your residence plays an important role affecting IDFC Bank Personal Loan criteria. If you stay in a rural area, then IDFC Bank Personal Loan criteria will be low as compared to metropolitan cities or urban areas where IDFC Bank Personal Loan Eligibility criteria will be high.

  • Existing Debt

    If you have an existing debt to payoff such as- loan EMI or credit card bill then IDFC Bank Personal Loan Eligibility online will be really low. The IDFC Bank Personal Loan criteria online gets really affected by your existing liability. So, before you go for IDFC Bank Personal Loan apply online, you must payoff all your existing debt to have a high IDFC Bank Personal Loan Eligibility online.

  • Residential Address

    One of the most important factor that affects IDFC Bank Personal Loan criteria is the residential address. If you are staying in a rented house, then IDFC Bank Personal Loan Eligibility online will be low. But if you stay in your own house, then IDFC Bank Personal Loan Eligibility online will be high as the bank will trust you to lend money.

IDFC First Bank Personal Loan Eligibility Criteria

IDFC Bank Personal Loan Eligibility Criteria Salaried Individual
Age 21-60 years
Minimum Salary Rs. 25,000
Current Residence 1 year
Profession Employed in MNCs, government sectors or private sector
Job Experience Minimum 2 years
IDFC Bank Personal Loan Eligibility Criteria Self-employed Individual
Age 25-65
Business Tenure At least 5 years
Minimum Income Rs. 4.8lakh/ year


*Interest rate and Loan approval are subjected to band discretion and approval.

Frequently Asked Questions

The maximum age limit for IDFC Bank Personal Loan Eligibility is 65 years.
Your credit score must be 750 or above for IDFC Bank Personal Loan criteria.
If you have existing EMI or you are paying EMI for your existing home loan or car loan your IDFC Bank Personal Loan Eligibility will be low.
The IDFC Personal Loan interest rate starts from 11.50%*
FOIR= (Sum of fixed obligations/Net take home salary)*100

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