A Short Introduction To IIFL Bank Personal Loan

IIFL is an Indian NBFC offering multiple financial products. Its instant personal loan is among the top-tier product in India. If you are looking for a quick loan, IIFL Bank personal loan could be a preferable choice.

Here in this post, we will look at its details. For example, what loan amount they offer, the interest rate, etc.

IIFL Bank personal loan

IIFL Bank personal loan offers a quick approval with a low interest rate, easy online application process, and flexible repayment option.

• It offers loan amounts up to Rs 25 lakhs.

• The processing fee is up to 2% of the loan amount.

• The interest rate starts at 13.49% per annum.

• The loan tenure is from 1 year to 5 years.

• The documentation charges are NIL.

• The late payment charge is 2% compounded monthly.

• The penal charge is 2% compounded monthly.

• The cheque bounce charge is Rs 500 per instance.

• The cheque dishonor charge is Rs 500 per instance.

• The foreclosure charge is up to 6% of the loan amount.

• The prepayment charge is NIL

IIFL Bank personal loan eligibility criteria

• Currently, IIFL Bank instant personal loan is available in metro cities only.

• The cities are Delhi and NCR, Pune, Bangalore, Mumbai, Thane, and Vashi

• The applicant must be a salaried individual.

• The applicant's minimum salary should be at least Rs 35,000 per month.

• The applicant's age should be between 25 and 60 years.

• The applicant should be working in the current organization for at least 6 months.

• The applicant should have at least 2 years of working experience.

Why should you go for IIFL Bank personal loan?

• You could check the loan eligibility within 1 minute.

• The approval process happens to be completed in 5 minutes.

• The loan is disbursed in less than 1 day.

• The documentation process is hassle-free and quick.

• The process for an instant personal loan is completely online.

• There is a dedicated support team to help you out.

• It does not require collateral or security.

Compare IIFL Bank personal loan with other lenders

Required documents for IIFL Bank personal loan

• The Aadhar card for KYC

• Address proof – The electricity bill, utility bill, rent agreement papers

• The loan application

• Passport size photographs

• Bank statement for the past 3 months

• Salary slips for the last 3 months

How to apply for IIFL Bank personal loan? To apply for IIFL Bank personal loan, you can head to Afinoz.com. it is an online platform where you could apply without affecting your CIBIL score. It also has an app on the Google play store.

Download the app, sign up and apply. It is that simple.

IIFL Personal loan status

On the app, there is a feature to check the IIFL Personal loan status. Open the app from the menu, see the track application option. Enter the info; you will see the latest update.

Conclusion

IIFL Bank personal loan makes it easy to get a personal loan online that too in very short timing. If you want to know more, contact them at 1860 267 3000 or 7039 050 000.