IDFC FIRST Bank Personal Loan EMI Calculator

What it costs per month

On ₹5,00,000 over 5 years:

Principal and interest only. The processing fee, GST, documentation and any insurance sold alongside the loan are additional.

Reading the two rows

The gap between them is the whole point. Same bank, same loan, same term — and ₹2,43,276 more interest at the top of the band than at the bottom. On an unsecured loan the rate is the only thing covering the lender’s risk, so a weak credit file does not cost you a fraction of a point, it can cost you the difference between these two rows. Treat the advertised rate as a best case and plan nearer the middle until the bank has seen your file. What moves you down the band is set out in personal loan eligibility.

For a different loan size or term, run your own numbers in the EMI calculator rather than scaling these figures by eye — EMI does not move in a straight line with the term. The rate band itself, with its date and source, is on the IDFC FIRST Bank personal loan interest rate page.

How it compares

IDFC FIRST Bank is the joint cheapest of the 8 providers we track for a personal loan, level with HDFC Bank at 9.99%. Among the other private banks in our set, Axis Bank starts at 9.99%, Kotak Mahindra Bank at 10.99% and ICICI Bank at 9.99%. HDFC Bank’s personal loan rate is the lowest advertised figure in our table, and the full ranking is on best personal loans.

Terms change without notice. Confirm the current figures with IDFC FIRST Bank before you act.