IIFL Personal Loan

IIFL Finance is an RBI-approved NBFC that is trusted by thousands of borrowers. IIFL Finance personal loans are customized to meet your specific needs including medical expenses, marriage funds, vacation purposes, home renovation, and many more. Enjoy a collateral-free loan at an affordable interest rate of 12.75% p.a. and a tenure extending up to 42 months.

Keep reading to know all about IIFL instant loans and apply online.

IIFL Personal Loan Details

You can easily avail a personal loan from IIFL with just a few clicks. Here are some crucial factors to consider when choosing an IIFL personal loan:

IIFL Personal Loan Interest Rates

The IIFL personal loan interest rate significantly affects how profitable, competitive, and sustainable it is. IIFL offers a range of interest rates, typically from 12.75% to 44% per year, depending on factors such as your income credit history, and loan tenure.

IIFL Personal Loan Fees & Charges

Before applying for a personal loan, it's crucial to have a clear understanding of all associated fees, which can include processing fees, prepayment charges, and more. To get a comprehensive view of IIFL Personal Loan fees and charges, refer to the table below:

IIFL Personal Loan Eligibility Criteria

To secure a loan approval on the application with IIFL, you need to meet specific eligibility criteria such as your age and income. Discover the detailed IIFL Finance personal loan eligibility criteria in the table below:

For Salaried:

• Must be at least 23 years of age at the time of application.
• Must be at most 60 or younger at the time of loan maturity.

For Self-Employed:

• Must be at least 25 years of age at the time of application.
• Must be 65 years of age or younger at the time of loan maturity.
• Must have at least 3 years of business vintage.

Documents Required for IIFL Personal Loan

In order to obtain approval for your IIFL personal loan, you'll need to furnish a set of essential documents for the purpose of verification. The necessary documents for applying for an IIFL personal loan include:

Calculate EMI For IIFL Personal Loan

Before getting a loan, the first step is to calculate your monthly payment and plan how to pay it comfortably. You can use the EMI calculator here to find out your estimated monthly payment for IIFL personal loan. Just enter the loan amount, interest rate, and the loan term, and it will display you the result.

Loan Amount :

₹

Interest Rate (p.a.):

%

Months to Pay:

Monthly EMI	₹86
Principal Amount	₹1,000
Total Interest	₹32
Total Amount	₹1,032.00

Principal Amount Interest Amount

Year	Month	Principal (A)	Interest (B)	EMI (A+B)	Balance	Loan Paid to Date (%)

Show Details

You can determine your EMI with this mathematical formula:

EMI=P * r * (1 + r)n(1 + r)n-1

In this equation:

• ’r’ stands for the interest rate.
• ’P’ stands for the principal amount.
• ‘n’ represents the loan repayment period.

Compute your EMI by substituting these variables with their respective values.

Compare IIFL Personal Loans Over Other NBFCs

The market is saturated with a plethora of lenders, offering borrowers an abundance of choices. However, it is crucial to assess and compare these lenders, including both banks and Non-Banking Financial Companies (NBFCs), before applying for a loan. This ensures that you select the most suitable lender that is aligned with your specific financial requirements.

The table below shows how IIFL personal loan interest rates compare to those of other banks & NBFCs.

NBFCs	INTEREST RATE (p.a.)
IIFL	12.75% - 44%
HDB Financial services	12% onwards
Paysense Personal Loan	16.8% onwards
CASHe	30% onwards
Fibe Personal Loan	24% onwards
Bajaj Finance Personal Loan	9.75% onwards
Flexiloans	12% onwards
HDB Financial Services Ltd.	11% onwards
Money View	15.96% onwards
RBL Bank	17.50% - 26%
Indian Overseas Bank Personal Loan	12.50% onwards
Axis Bank Personal Loan	10.49% onwards
IDFC First Bank Personal Loan	10.49% onwards
Standard Chartered Personal Loan	11.49% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Features & Benefits of IIFL Personal Loan

Personal loans from IIFL can provide you with fast access to cash. Here are some reasons why:

Swift Approval

Get loan approved in a
matter of hours

Competitive Interest Rates

The interest rates start
at 12.75% p.a.

Flexible Loan Tenure.

Tenure that ranges from
3 - 42 months

Zero Collateral

No need to risk your assets
for a loan.

Easy Documentation

Online application process
to save time.

Zero Hidden Charges

No extra hidden charges.

How Do You Apply for Personal Loans

Buddy Loan is a loan service provider with a pool of RBI approved lenders. Let’s go through the steps to apply for a personal loan on Buddy Loan from below:

Step 1 - Visit buddyloan.com or Download & install Buddy Loan app.

Step 2 - Fill out the application form, including the loan amount, the tenure in months, and contact details.

Step 3 - Fill out the following personal details as required:

• Email Address
• Employment Type : Salaried/ Self-Employed
• Company Type
• Industry Type
• Current Company Name
• Company Address
• Year of Employment
• Net Income
• Mode of Salary
• PAN Card Details
• Full Name (As Per Pan Card)
• Current Address with PIN Code
• Mobile Number

Step 4 - Submit the details & wait for the loan confirmation.

Ready to take next step ?

Apply for Personal Loan with Quick Approval

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IIFL Loan Repayment

IIFL offers a flexible repayment tenure ranging from 3 months to 42 months.

Additionally, you have the convenience of three different repayment channels – the online website, mobile app, or in-person branch visit. Importantly, IIFL’s transparent process assures borrowers of no hidden charges or penalties.