IIFL Personal Loan up to Rs.25 lakhs: eligibility,Documents requied

IIFL Personal Loan up to Rs.25 lakhs is designed to ensure that you get express disbursal into your account in just 8 hours.

You can take Personal Loan for a domestic or international vacation, wedding, the latest gadget, higher education, purchase of the vehicle or even home renovation. IIFL Express Personal Loan will help you realise your dream at express speed in 3 quick steps:

1)Eligibility check-in 1 minute: you need to do is quickly answer 3 simple questions and see that given your monthly income and commitments, how much loan you can get.

2)Online approval in 5 minutes: Auto-fill your form and skip KYC document submission using your Aadhar number or manually fill the form. We will instantly churn numbers to give you e-Approval.

3)Loan amount in the account in 8 hours: If you are happy with the Offer, just upload your documents. We will quickly verify these and call you to confirm Final Loan Offer. Disbursal is done within 8 hours.

Features:

• Loan up to Rs.25 lakhs
• Minimal documentation
• The completely online process with instant approval
• E-KYC and E-Sign through Aadhar for faster processing
• Express Loan disbursal in 8 hours

Personal EMI calculator

While planning to avail a Personal loan, you must take into account your income and your current commitments so that you can ascertain how much loan amount you can take to ensure EMIs are affordable.

You can estimate your EMI by using IIFL’s Personal Loan EMI Calculator given. With lower EMIs, attractive interest rates and repayment tenure up to 5 years, IIFL Personal Loan help you fulfill your dreams quickly and repay your loan comfortably. You can also arrive at how much loan you can get by giving your organisation name, salary and current EMIs through our Personal Loan Eligibility Calculator and also get an instant loan approval.

Personal Loan Interest Rates

IIFL Personal Loan offers attractive interest rates that ensure that your EMIs are affordable throughout the loan tenure. At IIFL, we do not believe in hidden charges that take the customer by surprise and are transparent in our dealings.

Rate of Interest: 16% p.a. onwards

Loan Processing Charges: Upto 3% of Sanctioned Amount + GST

Cheque / ACH Return Charges: ₹ 500/- + GST per instance

Cheque / ACH Swapping Charges Duplicate No-dues Certificate: ₹ 500/- + GST per instance

Duplicate Statement/Amortisation / Repayment Schedule/ Agreement/ Sanction Letter: ₹ 200/- + GST per instance

Penal Interest 24% p.a.

Prepayment / Foreclosure (01-06 months of EMI Repayment): 7% + GST* (Approval required)

Prepayment / Foreclosure (07-24 months of EMI Repayment): 5% + GST*

Prepayment / Foreclosure (more than 24 months of EMI Repayment) 4% + GST*

Loan Cancellation Interest will be charged for the Interim period between the date of Disbursement & date of loan cancellation

Documentation Charges: At Actuals

Security Creation and Perfection Charges: At Actuals

Property Valuation Charges: At Actuals

Inspection Charges: At Actuals

Stamp Duty Charges: At Actuals

Legal Collection & Incidental Charges: At Actuals

Any other charges from case to case basis: At Actuals

Late payment Fee's

 Part Payment allowed up to 25% of Principal Outstanding. It is allowed only once in a year and twice during the Loan tenure. Government Taxes and other levies as applicable would be charged additionally. These charges are in effect from June 15, 2020.

Documents Required For Personal Loan

With IIFL you will get 100% end-to-end online Personal Loan solution. Through one form, you can get your Personal Loan eligibility, pre-fill application form through Aadhar, get instant approval in 5 minutes and upload the documents online.

Once approved, an IIFL representative will get in touch with you to answer all queries and confirm your final offer for Personal Loan. You can even choose to sign the agreement digitally through Aadhar e-sign facility. Post your consent, you will get disbursal in your bank account within 8 hours.

To make your Personal Loan application process quick, we request you to keep a soft copy of below documents handy:

• Aadhar number to do E-KYC. You just need the number and no upload will be required.
• ID Proof (Not required if E-KYC is done)
• Address proof (Not required if E-KYC is done)
• Latest Salary slip for the last 3 months
• Latest Bank Statement for 3 months of salary account
• Rent Agreement (if applicable)
• Please note, if your mobile number is not registered with UIDAI for Aadhar, you will not be able to do E-KYC.

To apply for a personal loan