IIFL is a non-banking financial company, Its personal loan is meant to overcome the unpredicted financial crunches at any point in your life, you should check eligibility criteria before applying for IIFL bank personal loan. Once you are eligible for a personal loan IIFL provides you E-approval and disbursal it within 3 days.
2. IIFL PERSONAL LOAN INTEREST RATE & CHARGES
Documentation charges Nil
Late payment charges 2% (compounded monthly)
Penal charges 2% (compounded monthly)
Cheque bounce charges Rs.500 per instance+ applicable GST
Cheque dishonour charges Rs.500 per instance+ applicable GST
Foreclosure charges Up to 6%
Charges for inspection Nil
Prepayment charges Nil
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3. COMPARE IIFL PERSONAL LOAN FROM OTHER LENDERS
Banks Interest Rate
Max.Loan
Amount
Processing Fee Loan Tenure
Foreclosure
Charges
IIFL 13% 25 Lakh 2%+GST
12 months to 60
months
2% compounded
annually
TATA Capital 11.25% 20 Lakh 2.5%+GST 60 Month
3% on Overdue
Amount per
month + GST
Axis Bank 10.99% to 20% 15 Lakh
1.50% to 2.00%
+ GST
60 Month
2% per month
on the overdue
installment
HDFC Bank 11.25%-18% 50 Lakh upto 2.5 % 60 Month
Allowed after 12
EMI's, 2-4%
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4. IIFL PERSONAL
LOAN ELIGIBILITY
CRITERIA
Eligibility for an IIFL personal loan is decided on the basis of certain
parameters. A loan seeker must satisfy the below-mentioned eligibility
criteria to avail an IIFL Personal Loan:
• Salaried employees residing in Delhi/NCR, Thane, Mumbai, Bengaluru,
Pune and Vashi are eligible. They should be working in the present
organization for the last 6 months at least and should have an overall
work experience of at least 2 years.
• Age Limit: The age of the IIFL personal loan applicant should be between
25 to 60 years
• Quantum of the Loan: Individuals can avail a loan amount up to Rs 25
lakhs
• Income: Individuals should have a minimum monthly income of
Rs.25,000/- to avail a personal loan from IIFL.
• Eligibility and EMI calculator: Now, you can easily calculate
your IIFL personal loan eligibility and IIFL personal loan EMI amount
using utility tools like IIFL personal loan calculator and personal loan
EMI calculator at afinoz.com. These tools will help you to determine your
monthly EMI outflow, plus the interest rate you need to pay. Using these
calculators at Afinoz.com is free and simple.
• CIBIL score: Credit score is an important factor for the approval of any
loan Usually, your creditworthiness is determined by evaluating your
credit score (from CIBIL or EXPERIAN).
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5. IIFL PERSONAL LOAN DOCUMENTS REQUIRED:
Individuals applying for an IIFL personal loan should submit the following
documents-
• Aadhar number for KYC
• Photo Id, age proof and address proof( not necessary if eKYC is done
through IIFL login)
• Signed loan application form with photographs
• Last 3 months bank statement
• Last 3 months salary slips
• Rental agreement( if applicable)
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