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Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

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Micro Enterprise Loan Fees & Charges

Schedule of Charges

Loan Processing Fees  Up to 2% of the Sanctioned Amount + GST
EMI Bounce Charges per presentation 7.5% of the EMI outstanding + GST (minimum - Rs 400+GST; maximum - Rs. 1000+ GST)
Penal Charges 2% per month of Unpaid EMI or 300/- (Whichever is Highest) + GST
Cheque Swap Charges (per swap) Rs. 500/- + GST
Foreclosure Charges 4% of the principal outstanding amount + GST & for MSME tagged applications – Nil charges
Stamping Charges As Per Actuals
Rate of interest 12%-28.5%
Average Credit TAT 14 working days for MSME tagged applications subject to submission of all documents as required by the Bank.
EMI Pick-up/collection charges Rs 500/- + GST
Foreclosure lock in period 180 days
Prepayment charges 4% of the principal outstanding amount + GST & for MSME tagged applications – Nil charges