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IIFL Personal Loan Interest Rates

IIFL (India Infoline Limited) Personal Loan provides lowest interest rate to its customers. IIFL Personal Loan Interest Rates starts from 13.50%*. Compared to other financial institutions IIFL Personal Loan Interest Rates are low. People who are currently working under a reputed company or people who are salaried can get the lowest IIFL Personal Loan Interest Rates. But if you are someone who has low Credit Score your IIFL Personal Loan Interest Rates will be higher so it is advisable to maintain a Credit Score higher than 650 to get lower IIFL Personal Loan Interest Rates. The repayment tenure for IIFL Personal Loan is 12 to 60 months, the shorter tenure you choose the lower your IIFL Personal Loan Interest Rates will be. The processing fee of IIFL Personal Loan is 1-2%, and you also can avail loan from Rs. 50,000 to Rs. 25 lakhs.

IIFL Personal Loan Interest Rates Calculator

Your IIFL Personal Loan Interest Rates is calculated through your eligibility criteria. If you have higher eligibility criteria your IIFL Personal Loan Interest Rates will be lower. And if you have lower IIFL Personal Loan Eligibility Criteria your IIFL Personal Loan Interest Rates will be higher.

Reducing IIFL Personal Loan Interest Rates is not that hard, you just have to follow some rules; if you have higher credit score your IIFL Personal Loan Interest Rates will be lower. So here are some factors which will affect your IIFL Personal Loan Interest Rates.

  • Credit Score

    Credit Score or Credit Score is the most important thing on your IIFL Personal Loan Interest Rate. If you have high Credit Score that means your IIFL Personal Loan Interest Rates will be low and if you have low Credit Score you’re IIFL Personal Loan Interest Rates will be high. Your Credit Score depends on how you pay your personal loan. To make your Credit Score high you need to repay your personal loan on time. And you will get lower IIFL Personal Loan Interest Rates.

  • Applicant’s Age

    The applicant’s age is one of the most important in IIFL Personal Loan Interest Rates. The age group for personal loan eligibility is 21 to 60 years old. The younger you are there are much chance that you will have a lower IIFL Personal Loan Interest Rates. You will even get offers if you are applying for a personal loan in younger age. Your IIFL Personal Loan Interest Rates will be much lower on younger age.

  • Employment

    Your employment stability matters a lot on your IIFL Personal Loan Interest Rates. If you are a salaried person your employer also matters as every financial institution have a company list and if your employer is in the CAT A list your IIFL Personal Loan Interest Rates will be low. And if you are working there more than two years your IIFL Personal Loan Interest Rates will be low. And if you are self-employed you must run your business at least for five years to have high personal loan eligibility. And if you are working with a top notch company you salary is also high and if you are in a high position that means you will have a bright career ahead so your IIFL Personal Loan Interest Rates will be low.

  • Existing Debt

    If you are someone who has existing debt on his neck your IIFL Personal Loan Interest Rates can be higher. As you are already paying EMIs on those and if you are taking a new one this can be your liability and you won’t get any loan if your existing loans has already consumed 40% your monthly income. So it is advisable if you have any existing personal loan you can transfer the balance with the new one and can take a top up loan so your IIFL Personal Loan Interest Rates can be lower.

  • Geographic Location

    Geographical locations matters a lot on your IIFL Personal Loan Interest Rates as if you are from metro city you will get lower IIFL Personal Loan Interest Rates than someone from rural areas. Also some financial institution has red marked on some places so if you are from one of those places your IIFL Personal Loan Interest Rates will be high.

  • Housing Situation

    If you have your own house there are maximum chances that your IIFL Personal Loan Interest Rates will be low and your personal loan will be approved but if you are living in a rental house your IIFL Personal Loan Interest Rates will be high as your monthly income gets lower for that.

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

FAQ’s

To get lower IIFL Personal Loan Interest Rates a person should have 800 Credit Score.
The minimum IIFL Personal Loan Interest Rate is 13.50%*
The IIFL Personal Loan processing fee is 1-2%
The loan amount for IIFL Personal Loan is 50,000- 25 lakhs.
The IIFL Personal Loan tenure is 12 months to 60 months.

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