Personal Loan Interest Rates and Charges

Applicable Personal Loan Interest Rate and Charges

The interest rate charged by IIFL on personal loans is linked to the Reserve Bank of India (RBI) benchmark rate. The exact rate applicable for your loan will be determined after assessing your credit score and financial profile. Interest rates start from 12.75% per annum and can go up to 34% per annum, depending on a customer's risk profile.

PERSONAL LOANS RANGING FROM	INR 5,000 to INR 5,00,000
RATE OF INTEREST	12.75% - 44% p.a. (reducing balance interest rate)
TENURE	03 months to 42 months
PROCESSING FEE	2% - 6% + GST* (Additional Upto ₹500 will be charged as Convenience Fees)

Calculation of Personal Loan Interest Rate

The interest rate applicable on personal loans is dependent upon your credit score, loan amount and repayment period. Interest is calculated on a daily reducing balance basis and is charged at the end of each month for the total outstanding amount during that month. The rate of interest is rounded off to two decimal places. Customers have the option of choosing their own repayment tenure of up to 5 years.

At IIFL, we strive to provide our customers with the best personal loan solutions based on their needs and requirements. Calculate your personal loan EMI easily using the IIFL Personal Loan interest rate calculator. All you need to do is enter your desired loan amount, tenure, interest rate, and processing fee (if any), and then click on the "Calculate" button to know your equated monthly installments.

Interest Rate
12.75 - 44% P.A.
(Reducing Balance Interest Rate)

Processing Fee
2 - 6% + GST*
(Additional Upto ₹500 Will Be Charged As Convenience Fees)

Penal Charges, Late Payment Charges, Defaults Of Any Monies Payable
2% COMPOUNDED
Monthly

PERSONAL LOAN FAQs

What are the benefits of a Quick Personal Loan?

Quick Personal Loan provides several benefits such as instant loan processing, online application and no physical documentation required. Additionally, you also get access to 24X7 customer service assistance and benefit from our attractive rates and no hidden charges.

Is there any collateral or guarantor requirement for Quick Personal Loan?

No, a Quick personal loan does not require any collateral or guarantor. You can avail this loan online in a few simple steps!

How much can I borrow with a Quick Personal Loan?

Quick Personal Loan allows you to borrow up to ₹5 Lakhs for your investment needs.

What is a Quick Personal Loan from IIFL?

Quick Personal Loan from IIFL is an instant unsecured loan that helps you take advantage of the stock market opportunities without having to worry about budget constraints.

Personal Loan