Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

IIFL Finance Limited offers quick digital Personal Loan, which can be used to pay medical bills, meet emergency financial needs, fulfil educational purposes and fund a wedding or a vacation. An IIFL Personal Loan is a popular credit option among Indian customers for their ease of application, lower interest rate, and flexible repayment tenures. With minimal documentation, these loans are approved in a few minutes. IIFL Online Loans are disbursed within 24 hours once approved. Let us check out the details of the IIFL Personal Loans here.

IIFL Personal Loan Details

Loan amount

Rs.5,000 – Rs.5 Lakh


3 months to 42 months

Interest rate

Starting from 12.75% per annum

Processing fee

2 % - 4% of the loan amount

Note that the interest rate and charges mentioned above are indicative and might change depending on the applicant’s eligibility.

IIFL Personal Loan Interest Rate 

IIFL Personal Loan interest rate ranges between 16.50% and 27.50% per annum. It is one of the major determining factors in deciding the EMI you have to pay. It changes depending on the applicant’s profile, loan tenure, loan amount, etc. Since it is an IIFL Personal Loan, like any other lender, IIFL also prefers salaried individuals as borrowers. It is because a regular source of income increases the chances of repayment. So, IIFL offers a lower interest rate to salaried individuals.

Check Processing Fees & Charges by IIFL

IIFL provides personal loans at minimal additional fees and charges. Find details of IIFL personal loan fees and charges below:

Processing fee

Minimum Rs.750 is chargeable (2% - 4% of the loan amount) Convenience fee of Rs.500 is also charged.

Penal interest

2% compounded monthly

IIFL Personal Loan: Eligibility & Documents

Eligibility for an IIFL Personal Loan is dependent on various factors, including current age, monthly income, retirement age, etc. Your personal loan eligibility can also be considered an indicator of your repayment ability. Here are the personal loan eligibility criteria you need to fulfil to qualify for an IIFL Online Personal Loan.  

1. Eligibility Criteria for IIFL Finance Personal Loan

  • The applicant must be a resident of India.

  • The applicant must be between 19-60 years. 

  • For IIFL loan the applicant must be a salaried individual with a minimum monthly salary of Rs. 15,000.

  • Minimum CIBIL score of 700 and above

 2. IIFL Personal Loan Documents 

  • A selfie

  • PAN Card

  • Address Proof Aadhaar/Passport/Voter ID

  • Latest 6 months bank statement

Note that the lender may ask you for additional documents if required.

Calculate Your EMI for IIFL Personal Loan

Loan Amount
  • Months
  • Years
Rate of Interest

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

With the advent of online applications, obtaining a personal loan has become convenient, giving a rise to loan applications. However, prospective borrowers must have a clear repayment strategy before proceeding down this line. It is crucial to ensure you have the needed sum to make timely EMI payments. 

In this regard, an online personal loan EMI calculator can help you calculate your EMI obligations in a quick manner. You simply need to enter the loan amount, tenure and interest rate to begin the calculation. Upon entering these details, the calculator will display the result in seconds.

Features and Benefits of IIFL Personal Loan

IIFL Personal Loan has many unique features and benefits that will instantly help you meet your financial requirement. They are:

  • Attractive Loan Amount

You can get up to a maximum of Rs. 5 Lakhs to fulfil your financial needs through IIFL Personal Loan.

  • 100% Digital

You can carry out the IIFL Personal Loan application procedure from the convenience of your home. No physical visit to the branch is required.

  • Instant Approval

You can upload your KYC documents and get the IIFL Personal Loan approval in a few minutes.

  • Minimal Documentation

There is no need for complicated loan application forms and documents. The documentation is simplified, and you can get approval only based on your bank statement. No salary slip is required.

  • Collateral-free Loans

You do not have to submit any collateral or security to avail a Personal Loan from IIFL.

  • Quick Disbursal

If your KYC is fully approved, the loan amount can be credited to your bank account in just 24 hours.

Comparison of IIFL Personal Loan Interest rates with other Partner Lenders

One of the most important considerations before obtaining personal loan is to compare IIFL personal loan interest rate with that of other banks:

Name of bank

Rate of interest (onwards)

Bajaj Finance Limited


PaySense Partners


Axis Bank








Fullerton India


Muthoot Finance


YES Bank


Prefr Partners








The interest rates in the above table are indicative and might change depending on the bank or NBFC.

Know How IIFL Personal Loans Can Help You

A personal loan from IIFL can help you meet your small and big-ticket financial requirements. The loan amount ranges between Rs. 5,000 and Rs. 5 Lakhs, and comes with no end-use restriction. In simple terms, you can utilise the amount for various purposes, including wedding, education or travel.

How to Apply for IIFL Personal Loans?

If you want to apply for any IIFL Personal Loans at Bajaj Markets, simply follow these simple steps mentioned below: 

  • Step 1 - Enter your personal and professional details.

  • Step 2 - From the list of loan offers, select IIFL Finance to proceed.

  • Step 3 - Select the loan amount and repayment tenure as per your choice.

  • Step 4 - Get online approval in 2 minutes and money in your bank within 24 hours.

IIFL Customer Care Details

You can use any of the contact options given below to enquire about the IIFL personal loan or other schemes, and leave feedback about the services:

Reach out to IIFL Finance via the customer care number - 1860-267-3000, 7039-050-000 (09.30 am to 6.00 pm from Monday to Friday & 09.30 am to 4.00 pm on Saturdays, Closed on: Sunday and Public Holidays)

Write an email to IIFL at reach@iifl.com 

You can raise an online request at https://www.iifl.com/contact-us/raise-a-request 

Else, you can pay a visit to the nearest IIFL branch.

FAQs on IIFL Personal Loan

  • ✔️Does IIFL offer different types of Personal Loan interest rates?

    IIFL Personal Loan interest rate ranges between 16.50% and 27.50% per annum. It varies depending on the applicant’s profile, loan tenure, loan amount, etc.

  • ✔️ Can students apply for the IIFL Personal Loan?

    No, only salaried individuals can apply for the IIFL Personal Loan.

  • ✔️What is the maximum Personal Loan a salaried person can get?

    The maximum IIFL Personal Loan a salaried person can get is Rs. 5 Lakhs.

  • ✔️How to increase the chances of loan approval from IIFL?

    To increase your chances of loan approval from IIFL you should maintain a good credit profile and maintain good relations with the bank.

  • ✔️ Who is eligible for IIFL Personal Loan?

    Here are the eligibility criteria you need to fulfil to qualify for an IIFL Online Personal Loan.  

    •  The applicant must be a resident of India. 

    • The applicant must be between 19-60 years. 

    • The applicant must be a salaried individual with a monthly salary of at least Rs. 15,000.

  • ✔️How to repay my IIFL Personal Loan?

    You can repay your IIFL Personal Loan through any of the given methods:

    •  Pay through online methods like Internet Banking

    • Pay through the IIFL Loans Mobile app

    • Pay through online wallets like Phone Pe, Google Pay, Paytm

  • ✔️ How long does it take to get a personal loan from IIFL Finance?

    Typically, IIFL processes a loan application within a week. However, this may differ depending upon your eligibility and document submission.

  • ✔️Is it safe to take a loan from IIFL?

    IIFL is a leading financial institution in the country, which has been operating for several years. Thus, it is completely safe to obtain a loan from IIFL.