IDFC FIRST Bank
IDFC FIRST Bank FIRSTmoney Personal Loan
A bank loan of ₹50,000 to ₹15 lakh for salaried and self-employed borrowers with a CIBIL score of 710 or more, from 9.99% a year with no foreclosure charge, though part-prepayment isn't allowed.
- From 9.99% a year
- ₹50,000 to ₹15 lakh
Rates and charges
- Interest rate
- From 9.99% a year
- Processing fee
- 0% to 3.5% of the loan amount + GST; the bank's pages don't agree on the exact fee, so check the Key Fact Statement
- Foreclosure
- Nil (a sanction letter is needed to foreclose)
- Part-prepayment
- Not allowed
What ₹1,00,000 for 12 months would cost
| At | EMI | Interest | Fee + GST | Total cost |
|---|---|---|---|---|
| Lowest rate (9.99%) | ₹8,791 | ₹5,493 | ₹4,130 | ₹9,623 |
Uses the highest published processing fee (3.5%) plus 18% GST. Try your own numbers in the EMI calculator.
Loan terms and eligibility
- Loan amount
- ₹50,000 to ₹15 lakh
- Tenure
- 9 months to 5 years
- Who can apply
- Salaried and Self-employed
- Minimum income
- ₹25,000 a month
- Age
- 21–60 years
- Disbursal (lender's claim)
- Disbursal in as little as 10 minutes after approval
- Who lends
- IDFC FIRST Bank itself
- RBI digital lending apps directory
- Listed (as reported by the lender)
Apply with IDFC FIRST Bank
Apply nowVia our referral partner. We may earn a commission.CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion. The lender decides your rate, amount and approval.
Work out your EMI with IDFC FIRST Bank's rates
Prefilled with IDFC FIRST Bank's lowest published rate and its highest published processing fee (3.5%). Change any number to match your offer.
Your loan
- Monthly EMI
- ₹8,791
- Total interest
- ₹5,493
- Processing fee + 18% GST
- ₹4,130
- Total cost of the loan
- ₹9,623
- Effective annual cost
- 18.04%
- Money in hand
- ₹95,870
- You pay back in 1 yr
- ₹1,09,623
Total cost = interest + processing fee + GST. Effective annual cost is the yearly rate you really pay on the money in hand, the way lenders work out the APR in a Key Fact Statement.
Same loan, different tenures
| Tenure | EMI | Total interest | Total cost (incl. fee + GST) | Effective annual cost |
|---|---|---|---|---|
| 12 months (yours) | ₹8,791 | ₹5,493 | ₹9,623 | 18.04% |
| 24 months | ₹4,614 | ₹10,737 | ₹14,867 | 14.24% |
| 36 months | ₹3,226 | ₹16,145 | ₹20,275 | 12.91% |
| 48 months | ₹2,536 | ₹21,717 | ₹25,847 | 12.24% |
| 60 months | ₹2,124 | ₹27,453 | ₹31,583 | 11.83% |
A longer tenure lowers the EMI but raises the total interest. A fixed fee costs more per year on a short loan.
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Questions people ask
What interest rate does IDFC FIRST Bank FIRSTmoney Personal Loan charge?
IDFC FIRST Bank publishes from 9.99% a year. The rate you're offered depends on your credit score, income and the lender's own checks, and is usually above the starting rate.
What is IDFC FIRST Bank's processing fee?
0% to 3.5% of the loan amount + GST; the bank's pages don't agree on the exact fee, so check the Key Fact Statement. GST at 18% is added to the fee.
Who actually gives the loan?
IDFC FIRST Bank lends from its own books; it is a bank regulated by the RBI.
Is IDFC FIRST Bank registered with RBI?
The IDFC FIRST BANK app is listed in RBI's directory of digital lending apps, as reported by IDFC FIRST Bank Limited. The directory shows what lenders report; RBI doesn't vouch for the app. IDFC FIRST Bank is regulated by RBI as a bank.
Can I close or prepay a IDFC FIRST Bank loan early?
Closing early: Nil (a sanction letter is needed to foreclose). Part-prepayment: Not allowed.
Who can apply for a IDFC FIRST Bank personal loan?
Salaried and self-employed applicants. Minimum income ₹25,000 a month. Age: 21–60 years. Approval is at the lender's discretion.
How much does a ₹1,00,000 loan from IDFC FIRST Bank cost?
Over 12 months at the lowest published rate, about ₹9,623 in interest and fees (a 3.5% processing fee plus GST). Your EMI depends on the rate you're offered.
Related guides
- True Cost of a Personal Loan: Fees and APRWhat a personal loan really costs: flat vs reducing rate, processing fee and GST, APR in the Key Fact Statement, foreclosure and penal charges.
- CIBIL Score: Check Free, Improve in 90 DaysCheck your CIBIL score free with one full report a year from each bureau, dispute errors yourself, and build a better score with a 90-day checklist.
- True cost of a ₹1 lakh loan at every lenderInterest, processing fee and GST, side by side
Last verified 18 Oct 2026 on IDFC FIRST Bank's official page. Rates and fees change; check the lender's terms before you apply.