IDFC First Bank Personal Loan Review – Forbes Advisor INDIA


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You can apply online or by visiting a branch of the IDFC bank.

IDFC First Bank Loan Balance Transfer

One can transfer an existing personal loan from another bank to IDFC Bank at a reduced interest rate. It requires a bit of documentation and here are the required items. At this point, they are offering a 1% discount off the current interest rate.

IDFC First Bank Loan Insurance

Any borrower can take out a personal loan insurance policy with the bank or a service provider acceptable to the bank to protect against loan repayment in the event of disability such as death, serious illness, permanent disability, loss of life. ’employment, etc.

Borrowers pay a separate premium for this insurance and if they face any of the above issues, the insurance pays the rest of the amount and the balance is paid to the account holder’s agent.

IDFC First Bank personal loan recharge

Borrowers can benefit from additional personal credit, allowing them to contract credit in addition to their existing credit. This is only granted to customers with a good credit rating. The interest on a top-up loan is about 1% higher than the original interest, and the total top-up amount can go up to 80% of the original amount.

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