IDFC Personal Interest Rate Calculator 2025

IDFC Personal Interest Rate Calculator 2025 | Proven Choice

Loan Amount (₹)

₹5,00,000

Interest Rate (% per annum)

12.5%

Loan Tenure

5 Years

3 Years

5 Years

7 Years

* This calculator provides approximate EMI values. Actual interest rates and terms may vary based on credit assessment and IDFC First Bank's prevailing policies.

What is IDFC personal interest rate Calculator?

The IDFC Personal Interest Rate Calculator is a very user-friendly online tool that provides you with the ability to estimate both the total interest that you would be required to pay on a potential loan as well as your Equated Monthly Installment (EMI). Simply by entering the desired loan amount, the requested payback duration (loan term), and the interest rate that is relevant, the calculator will produce an instant and complete explanation of the situation.

This makes it possible for you to successfully organise your finances by allowing you to visualise your monthly outflow as well as the total cost of the loan. Your ability to alter the three variables—amount, tenure, and rate—allows you to analyse several situations and select an EMI that is most suitable for your financial situation, so guaranteeing that you borrow money in an informed and responsible manner. As you begin the process of applying for a loan, this is an essential initial step.

How to use IDFC personal interest rate calculator

Input Details: Enter the Loan Amount you need, your preferred Repayment Tenure (in months or years), and the Interest Rate offered by the bank.
Calculate: Click the “Calculate” button.
Review Results: The tool instantly displays your Equated Monthly Installment (EMI), the Total Interest payable over the loan’s term, and the Total Amount (principal + interest) you will repay.

You can adjust any of the three inputs to compare different scenarios and find an EMI that comfortably fits your monthly budget.

The Working Formula

The calculator uses the standard mathematical formula for calculating EMI on reducing balance loans:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where:

P is the principal loan amount.
R is the monthly interest rate (annual rate/12/100).
N is the loan tenure in months.

This formula accounts for interest being charged only on the outstanding principal, which reduces with each EMI payment.

idfc personal loan interest rate for salary account

People who have salary accounts with IDFC FIRST Bank are eligible for a personal loan with interest rates that are more favourable. A significant advantage of keeping your pay account with the bank is that it allows you to do this.

The actual rate can change depending on your employer’s tie-up, credit score, and income; nonetheless, employees who have salary accounts often receive rates that are between 0.5 and 1 percent cheaper than those that are offered to those who do not have salary accounts. This will result in significant savings on both your monthly interest payments and your overall interest costs.

You should check your NetBanking portal or the IDFC FIRST Bank mobile app to obtain the specific, pre-approved offer that is currently available to you, as well as the exact interest rate. This is because eligible customers frequently find special, pre-qualified loan deals through these platforms.

Idfc bank personal loan minimum salary

IDFC FIRST Bank does not have a preset, publicly announced minimum wage criterion for personal loans; rather, the amount of the required salary varies depending on the city in which the borrower resides. This is done in order to take into account the dissimilarity in the cost of living.

When it comes to salaried individuals, the requirement often falls somewhere in the range of ₹ 15,000 to ₹ 25,000 every month. A greater threshold will be applied to applicants who are located in metropolitan cities such as Mumbai or Delhi; however, applicants who are located in non-metropolitan areas may be eligible with a lower minimum salary.

At the end of the day, eligibility is determined by your net monthly income after statutory deductions. This ensures that you have sufficient discretionary income to easily service the EMI.

idfc personal loan interest rate for 1 lakh

In the case of a personal loan amounting to ₹1 lakh, IDFC FIRST Bank does not promote a universally applicable interest rate. The rate that is applied is very individualised, and it normally begins at 10.49% per annum and goes up from there, depending on the borrower’s characteristics.

There are several main elements that will decide the ultimate interest rate that you will be charged for a loan of ₹1 lakh.

Your credit score (a lower interest rate is secured by a higher CIBIL score, especially one that is higher than 750).

Your monthly income and the category given by your company.

The relationship that you already have with the bank, such as having a salary account, among other things.

In order to estimate your prospective monthly EMI and total payback amount prior to applying for a loan, it is essential to utilise the online EMI calculator provided by the bank. This calculator requires you to enter ₹1 lakh, a tentative interest rate, and a tenure.

idfc personal loan interest rate for govt employees

IDFC FIRST Bank provides government personnel with personal loan interest rates that are highly competitive and advantageous with regard to the interest rates. The government employees are eligible for interest rates beginning as low as 10.49% per annum because they are considered to be low-risk borrowers due to the fact that they have secure work and a consistent income.

The fact that they have a secure employment profile is the reason for this preferential pricing, which frequently results in a quicker acceptance of the loan and may also involve a relaxation of the qualifying requirements. The precise rate is determined by the individual’s credit score, the level of their wage, and the department they work in.

Logging onto their IDFC Bank NetBanking or mobile app, where personalised discounts are frequently accessible, allows government personnel to verify their pre-approved offers and unique interest rates. This includes the ability to check their interest rates.

IDFC FIRST Bank Personal Loan Eligibility Criteria

IDFC FIRST Bank has a set of primary eligibility conditions for salaried individuals applying for a personal loan. While specific requirements can vary, the key criteria are:

Age: Applicant must be between 23 and 60 years of age at the time of loan application.
Employment: Should be a salaried employee working with a public limited company, private limited company, or a multinational corporation (MNC).
Minimum Income: A net monthly income of ₹ 15,000 is generally required. This threshold is higher for metropolitan cities (like Mumbai, Delhi, Bangalore) and may be lower for non-metro locations.
Work Experience: Minimum total work experience of 2 years, with at least 1 year of experience in the current organization.
Credit Score: A strong credit history with a CIBIL score typically above 750 is crucial for approval and securing a competitive interest rate.

FAQ?

What is the interest rate for a personal loan from IDFC First Bank?

IDFC FIRST Bank’s personal loan interest rates are not uniform and vary for each applicant. They typically start from 10.49% per annum and can go higher based on a risk-based pricing model.

The final rate offered to you is determined by an assessment of your credit profile. Key factors include your credit score (CIBIL), monthly income, employer’s category, and existing relationship with the bank.

To find your exact, personalized interest rate, the most accurate method is to check for a pre-approved offer on your IDFC NetBanking or mobile app, or use the online eligibility checker on their website, which provides a tailored quote.