IDFC FIRST Bank Personal Loan (FIRSTmoney) 2026
IDFC FIRST Bank’s FIRSTmoney is a digital personal loan with no foreclosure charges — useful if you expect to repay early. Interest rate 9.99% onwards, loan ₹50,000 – ₹15 lakh (FIRSTmoney); up to ₹50 lakh on a higher-limit variant, tenure 9 – 60 months.
Rates as of Sep 2026 · Checked 30 September 2026IDFC FIRST Bank Personal Loan (FIRSTmoney) at a glance
- Zero foreclosure charge
- Zero processing fee on select amounts
- Short minimum tenure of 9 months
- FIRSTmoney capped at ₹15 lakh
- Maximum rate not disclosed
- Fee can reach 3.5%
IDFC FIRST personal loan interest rate & charges
| Feature | IDFC FIRST |
|---|---|
| Interest rate | 9.99% onwards |
| Rate details | From 0.83% per month (9.99% p.a.); the maximum is not disclosed. |
| Processing fee | 0% – 3.5% of loan (incl. GST); zero on select amounts |
| Loan amount | ₹50,000 – ₹15 lakh (FIRSTmoney); up to ₹50 lakh on a higher-limit variant |
| Tenure | 9 – 60 months |
| Prepayment / foreclosure | Zero foreclosure charges |
| Age | 21 – 60 years |
| Credit score | CIBIL 710+ |
Special schemes & features
Digital personal loan with instant approval in the app
Variant for larger amounts (up to ₹50 lakh per Paisabazaar)
Source: www.idfcfirst.bank.in, Sep 2026. Rates are indicative; your rate depends on your profile. Always check the Key Facts Statement (KFS) for the APR before signing.
EMI at IDFC FIRST’s rates
| Loan amount | EMI @ 9.99% |
|---|---|
| ₹2,00,000 | ₹4,248 |
| ₹5,00,000 | ₹10,621 |
| ₹10,00,000 | ₹21,242 |
Tenure 5 years, reducing-balance method. Total interest on ₹5,00,000 at 9.99%: ₹1,37,264.
IDFC FIRST personal loan EMI calculator
Eligibility
- Age 21 – 60 years
- CIBIL score 710 or above
- Salaried or self-employed with regular income (no stated minimum)
Documents required
- Identity proof: PAN (mandatory) plus Aadhaar, passport, voter ID or driving licence
- Address proof if different from ID
- Salaried: last 3 months’ salary slips, 3 – 6 months’ salary-account statement, Form 16 or latest ITR
- Self-employed: last 2 – 3 years’ ITR with computation of income, audited financials where applicable, 6 – 12 months’ bank statements, business registration (GST, Udyam, shop licence)
- Passport-size photograph (branch applications)
- Existing lenders’ sanction letters or statements if you are consolidating or transferring a loan
How to apply for IDFC FIRST Bank Personal Loan (FIRSTmoney)
- Check your credit reportDownload your free report, fix errors and see what rate band you fall in.
- Compare offersCompare APR in the Key Facts Statement, fees and foreclosure terms — not just the headline rate.
- Apply on the lender’s own app, website or branchUse the bank’s official channels or its listed lending partners; never pay anyone a fee to “get the loan approved”.
- KYC and verificationAadhaar/PAN-based e-KYC or video KYC; income is verified from payslips, bank statements or account aggregator data.
- Sign KFS and agreementCheck APR, EMI schedule, foreclosure charge, penal charges and cooling-off period before e-signing.
- DisbursalMoney is credited directly to your bank account by the lender — never through a third party’s account.
IDFC FIRST vs other lenders
| Lender | Rate | Processing fee | Tenure | EMI on ₹5,00,000 |
|---|---|---|---|---|
| Axis Bank Personal Loan | 9.99% – 21.55% | Up to 2% of loan + GST | 12 – 84 months | ₹10,621 |
| HDFC Bank Personal Loan | 9.99% – 24.00% | Up to ₹6,500 + GST | 12 – 60 months (up to 72–84 months for select segments) | ₹10,621 |
| ICICI Bank Personal Loan | 9.99% – 16.50% | Up to 2% of loan + GST | — | ₹10,621 |
| IDFC FIRST Bank Personal Loan (FIRSTmoney) | 9.99% onwards | 0% – 3.5% of loan (incl. GST); zero on select amounts | 9 – 60 months | ₹10,621 |
| SBI Personal Loan (Xpress Credit) | 10.00% – 15.00% | 1.50% of loan (min ₹1,000, max ₹15,000) + GST | 6 – 84 months | ₹10,624 |
| Bank of Baroda Personal Loan | 10.15% – 17.50% | Nil for government employees with BoB salary account; others 1% – 2% + GST (min ₹1,000, max ₹10,000) | Up to 84 months (salaried); 48 – 60 months (non-salaried) | ₹10,660 |
| YES Bank Personal Loan | 10.85% – 21.00% | Up to 2.5% of loan | 12 – 72 months | ₹10,834 |
| Kotak Mahindra Bank Personal Loan | 10.99% onwards | Up to 5% of loan + GST | 12 – 72 months | ₹10,869 |
Frequently asked questions
What is the IDFC FIRST Bank Personal Loan (FIRSTmoney) personal loan interest rate?
IDFC FIRST personal loan rates start at 9.99% p.a. (as of Sep 2026). The rate you get depends on your credit score, income and loan details.
What is the EMI for ₹5,00,000 from IDFC FIRST?
At 9.99% for 5 years the EMI is about ₹10,621, with total interest of ₹1,37,264.
What is the processing fee?
IDFC FIRST: 0% – 3.5% of loan (incl. GST); zero on select amounts. GST at 18% applies on fees.
What is the maximum tenure?
IDFC FIRST: 9 – 60 months.
Can I prepay or foreclose the loan?
IDFC FIRST: Zero foreclosure charges.
Does IDFC FIRST charge for foreclosing a personal loan?
No. IDFC FIRST Bank advertises zero foreclosure charges on its personal loans.
Information compiled from the lender’s published rates and reputable aggregators for comparison only. FinancePortal is not affiliated with IDFC FIRST Bank Personal Loan (FIRSTmoney). Terms change — confirm with the lender.