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Instant Personal Loan in Delhi

Living in Delhi, one of the most vibrant and expensive cities in India, can present various financial challenges. Thankfully, an instant personal loan in Delhi can help ease those challenges by providing quick access to funds. Whether you're planning a home renovation, consolidating debt, or covering emergency medical expenses, a personal loan in Delhi offers the flexibility to meet your financial needs.

IDFC FIRST Bank offers customized personal loans in Delhi at competitive interest rates, making it easier to manage your finances in this bustling capital. Many residents rely on these loans to cover unexpected expenses or achieve their financial goals.

Features of an instant Personal Loan in Delhi

An easy and instant personal loan in Delhi has proven its worth time and again. It comes with the following features:

Affordable interest rate

Affordable interest rate

IDFC FIRST Bank offers affordable personal Loan interest rates. It makes repayment easier and helps borrowers meet their financial obligations without worrying about hefty interest. Therefore, it is no surprise to see people use instant Personal Loans to buy two-wheelers, debt consolidation, etc.

Easy financing

Easy financing

We sanction instant personal Loan requests immediately if they meet the eligibility requirements. Borrowers only need to fill out a basic personal Loan request form on our mobile banking app. The ease and speed of our service can help borrowers address urgent requirements, such as medical bills. The loan amount is disbursed within hours into borrowers’ accounts, allowing them to focus on medical treatment instead of money.

Easy EMIs

Easy EMIs

Borrowers can pay back the Personal Loan amount in the form of EMIs. The personal loan EMI amount can be customised based on specific needs.

Use a Personal Loan in Delhi to Fulfil Your Needs

Living in Delhi can be expensive, and when unexpected expenses arise, many turn to personal loans to cover their costs. Whether it's for something planned or an unforeseen situation, here are a few scenarios where a personal loan in Delhi can make a big difference:

Travel expenses

Embark on your dream adventures with a travel loan designed exclusively for elite travellers.

Weddings

With weddings bringing unexpected costs, an instant wedding loan is a go-to solution for many.

Home renovation

Moving into a new space? A home renovation loan can help meet renovation expenses with ease.

Medical emergencies

A medical loan serves as a financial backup during sudden medical emergencies.

Travel expenses

Embark on your dream adventures with a travel loan designed exclusively for elite travellers.

Weddings

With weddings bringing unexpected costs, an instant wedding loan is a go-to solution for many.

Home renovation

Moving into a new space? A home renovation loan can help meet renovation expenses with ease.

Medical emergencies

A medical loan serves as a financial backup during sudden medical emergencies.

Eligibility Criteria for Personal Loan in Delhi

Who Can Apply?

For Salaried Individuals:

  • Must be between 21 and 60 years old at the time of loan maturity.

For Self-Employed Individuals:

  • Must be between 21 and 65 years old and have a business that has been operating for at least three years.

Minimum Salary

  • Applicants in Delhi must have a minimum salary of ₹25,000 due to the higher cost of living.

Minimum Credit Score

  • Applicants are required to have a credit score of 730 or above

Documentation

The documents needed to apply for a Delhi loan are:

  • Valid KYC
  • 3 months’ bank statement
  • Net Banking or Debit Card details to set up e-Mandate
  • eSign/eStamp for faster disbursal

Personal Loan in Delhi

Apply Instant Personal Loan in Delhi NCR

Minimum Salary to Apply for Personal Loan in Delhi 
 

The minimum salary required to apply for a personal loan in most cities in India is ₹20,000. However, for Delhi and Mumbai, applicants must have a minimum income of ₹25,000. It is because the standard of living in Delhi is high. Lenders demand higher salaries to safeguard their interests and ensure that you can repay the loan amount.

Interest rate and charges in Delhi for Personal Loan
 

Types of Fees Applicable Charges
Personal Loan interest rate Starting 9.99%
Processing fees Processing Fees of upto 3.5% will be deducted from the loan amount at the time of disbursal
Late payment fees 2% of the unpaid EMI or ₹300 whichever is higher. The late payment fees might be applicable from the date of default to the date of payment.
Stamp duty As per actuals

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How to apply for a Personal Loan in Delhi?

Getting an instant personal loan in Delhi with IDFC FIRST Bank is a straightforward process. Here are the steps:

Step 1

Apply online through the IDFC FIRST Bank app or website.

Step 2

Complete the eligibility check and submit your loan application

Step 3

Upload the required documents for verification.

Step 4

Once approved, the personal loan in Delhi amount will be disbursed directly to your bank account.

Once your loan application is approved, the Personal Loan amount will be transferred to your account. IDFC FIRST Bank’s digital process ensures you receive the financial aid you need smoothly and seamlessly.

FREQUENTLY ASKED QUESTIONS

How to get a personal loan in Delhi?

You can easily apply for a personal loan in Delhi through the bank’s website or mobile app. Simply fill out the online application form, submit the required documents, and get approval in minutes. Alternatively, you can visit a branch in Delhi to apply in person.

What are the eligibility criteria to apply for a personal loan in Delhi?

To apply for a personal loan in Delhi, you must be an Indian citizen in the age bracket of 21 and 60 years. You should have a stable source of income, whether salaried or self-employed. The eligibility is also influenced by factors like your credit score, monthly income, and repayment history.

How much of a personal loan can I get in Delhi?

The loan amount depends on your income and eligibility. With IDFC FIRST Bank, you can avail personal loans based on your financial profile.

What is the interest rate for personal loans in Delhi?

IDFC FIRST Bank offers competitive interest rates for personal loans, which start from as low as 9.99% p.a. The exact rate may vary based on your credit score and loan amount.

How long does it take to get a personal loan in Delhi?

Once your application is submitted and approved, the loan amount is typically disbursed within minutes, ensuring quick access to funds.

Why is IDFC FIRST Bank one of the best banks to get a Personal Loan in Delhi?

IDFC FIRST Bank Personal Loans in Delhi are valuable because you can avail:

  • · Competitive interest rates start at 9.99%.
  • · Completely digital, paperless online process.
  • · Balance transfer of existing Personal Loans and credit cards at affordable rates.

What are the documents required for a loan application?

The documents needed to apply for a Delhi loan are:

  • · PAN Card
  • · Form 60 (To be submitted if PAN card is not available)
  • · ANY 1 Official Valid Document (OVD) is mandatory from the below-mentioned documents:

    • 1. Valid Passport with an expiry date, photograph, and signature.
    • 2. Aadhaar Card issued by UIDAI.
    • 3. Voter’s Identity Card issued by the Election Commission of India.
    • 4. Driving License issued by the regional transport authority.
    • 5. Job Card issued by NREGA duly signed by an officer of the State Government.
    • 6. National Population Register containing details of name and address.

What is the online loan application process for Delhi NCR?

Here is the step-by-step process to apply for a Personal Loan in Delhi with IDFC FIRST Bank: 

Online application Download the IDFC FIRST Bank Loans app to apply for a Personal Loan in Delhi. Alternatively, you can click here to get started with the application form. Approval Your loan request will be approved if you pass the eligibility check. Upload documents Complete the verification process by uploading the documents. Disbursal The approved loan amount will be disbursed into your account within hours.                                                    

How much loan can I take?

The personal loan amount you can avail of depends on many factors, including your income and credit score.                                                    

What does an EMI include?

EMI stands for equated monthly instalment. It refers to the monthly payments you make towards a loan. EMI instalments include both principal and interest payments on the loan amount.                                                    

What is the interest rate for a personal loan in Delhi?

IDFC FIRST Bank offers low-interest personal loans in Delhi, with rate starting at 9.99%% per annum, depending on your credit profile and loan tenure. 

More FAQs

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Credit Score for Personal loan

FEATURED

Personal Loans for a Credit Score of 550

Personal loans are one of the easiest loans to acquire. They are unsecured loans, which means one does not need to offer collateral. They can be used for a multitude of purposes. There is minimal documentation involved and a relatively shorter processing time as well. However, one of the most important considerations when applying for a personal loan is your CIBIL score.

Team FinFIRST14 Sep 2021 • 3 mins read

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