IIFL Personal Loan 2022

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IIFL Personal Loan 2022 Highlights

IIFL Personal Loan Online @ 16*% ✓ Eligibility Criteria ✓ Low-Interest ✓ Instant E Approval ✓ Disbursal within 3 Days ✓ Apply now at Afinoz.


IIFL Personal Loans Details

An IIFL personal loan is meant to overcome the unpredicted financial crunches at any point in your life. Personal loans are processed and disbursed quickly. Moreover, they do not require any collateral. The loan amount may be utilized for the purpose of purchasing any consumer durables or for meeting domestic, social and other such emergency expenses. IIFL provides easy and hassle-free personal loans to individuals at highly competitive interest rates along with other benefits such as door-step services. You can do an IIFL loan login and avail IIFL personal loan products as per your distinct requirements. You can also check your personal loan eligibility with its accurate IIFL personal loan calculator.

IIFL Personal Loan Interest Rate & Charges 2021

Documentation charges


Late payment charges

2% (compounded monthly)

Penal charges

2% (compounded monthly)

Cheque bounce charges

Rs.500 per instance+ applicable GST

Cheque dishonor charges

Rs.500 per instance+ applicable GST

Foreclosure charges

Up to 6%

Charges for inspection


Prepayment charges


Special Note: rates, fees and charges are subject to periodic changes. Personal loan interest rates and other fees and charges in IIFL bank are subject to regular reviews and can vary from customer to customer depending upon a number of factors ranging from credit score to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with the lender etc.

Compare IIFL personal loan from other lenders

Banks Interest Rate Max.Loan Amount Processing Fee Loan Tenure Foreclosure Charges
IIFL 16% 25 Lakh 2%+GST 12 months to 60 months 2% compounded annually
TATA Capital 10.99% 20 Lakh 2.5%+GST 60 Month 3% on Overdue Amount per month + GST
Axis Bank 12%  15 Lakh 1.50% to 2.00% + GST 60 Month 2% per month on the overdue installment
HDFC Bank 10.50% 50 Lakh upto 2.5 % 60 Month Allowed after 12 EMI's, 2-4%

IIFL Personal Loan Eligibility Criteria

Eligibility for an IIFL  personal loan is decided on the basis of certain parameters. A loan seeker must satisfy the below-mentioned eligibility criteria to avail an IIFL Personal Loan:

  • Salaried employees residing in Delhi/NCR, Thane, Mumbai, Bengaluru, Pune and Vashi are eligible. They should be working in the present organization for the last 6 months at least and should have an overall work experience of at least 2 years.
  • Age Limit: The age of the IIFL personal loan applicant should be between 25 to 60 years
  • Quantum of the Loan: Individuals can avail a loan amount up to Rs 25 lakhs
  • Income: Individuals should have a minimum monthly income of Rs.25,000/- to avail a personal loan from IIFL.
  • Eligibility and EMI calculator: Now, you can easily calculate your IIFL personal loan eligibility and IIFL personal loan EMI amount using utility tools like IIFL personal loan calculator and personal loan EMI calculator at afinoz.com. These tools will help you to determine your monthly EMI outflow, plus the interest rate you need to pay. Using these calculators at Afinoz.com is free and simple.
  • CIBIL score: Credit score is an important factor for the approval of any loan Usually, your creditworthiness is determined by evaluating your credit score (from CIBIL or EXPERIAN). Loan applications of IIFL  applicants having poor credit score may get rejected. We would advise you to keep on improving your credit score on a continuous basis. If you have a poor credit score and your loan application gets approved somehow, you may be offered a higher rate of interest with other unfavorable terms and conditions on your IIFL  loan, in comparison to someone with an excellent credit score.

IIFL Personal loan Documents Required:

Individuals applying for an IIFL personal loan should submit the following documents-

  1. Aadhar number for KYC
  2. Photo Id, age proof and address proof( not necessary if eKYC is done through IIFL login)
  3. Signed loan application form with photographs
  4. Last 3 months bank statement
  5. Last 3 months salary slips
  6. Rental agreement( if applicable)

Features & Benefits of IIFL Personal Loan

IIFL personal Loan offers attractive features and benefits from easy loan approval to lower interest rates along with flexible loan tenure and IIFL Online payment. Here are some of the salient features of a personal loan from IIFL.

  •  Affordable rate of interest: IIFL offers competitive interest rates starting from 13 % per annum.
  • No collateral or security required.
  • Flexible Repayment Options: You can choose any tenure from 12 to 60 months to repay your IIFL Personal Loan.
  • Multipurpose Personal Loan: The IIFL Personal Loan can be used for any genuine personal credit need including educational expenses, wedding expenses, travel costs and to meet the expenses of emergency medical funds. No questions asked.
  • Quick processing and disbursal- Quick checking of your eligibility within just a minute and quick online approval is offered through IIFL login. The documentation process is entirely hassle-free. Also, express disbursal of your personal loan is possible within just 8 hours.
  • Easy online platform-  The IIFL online platform is an easy and completely transparent one. Faster processing of your loan application and IIFL online payment are made possible through effective online procedures such as eSign (via Aadhar) and eKYC.
  • No pre-closure charge (pre-closure will be allowed only after 12 months.

IIFL Personal Loan EMI Calculator

IIFL Bank Personal Loan EMI calculator is one of the simplest and easy to use feature made available to its customers. This feature ensures that the customers can make suitable choices before applying for the loan of their desired amount. The formula which is used here includes the processing fees, the anticipated rate of interest and the tenure for which the amount of loan is to be availed.

The EMI calculator will ask about the amount you wish to borrow and the total number of months over which the amount is to be repaid, on the basis of this information the calculator will provide various applicable monthly instalments varying according to the tenure of the loan repayment. 

Amount of ₹ 2 Lakh availed at the rate of interest of 13% per annum, for flexible repayment tenure:

Loan Amount

ROI @ 13.00%

Tenure (Months)




₹ 2,00,000



₹ 2,28,200

₹ 9,508

₹ 28,200


₹ 2,57,543

₹ 5,365

₹ 57,543


₹ 2,73,036

₹ 4,550

₹ 73,036


₹ 2,89,067

₹ 4,014

₹ 89,067


₹ 3,05,624

₹ 3,638

₹ 1,05,624

Different amounts of loan taken at the rate of interest of 13% per annum for a period of 12 months:

Loan Amount

ROI @ 13.00%

Tenure (Months)




₹ 2,00,000



₹ 2,14,361

₹ 17,863

₹ 14,361

₹ 3,00,000

₹ 3,21,542

₹ 26,795

₹ 21,542

₹ 4,00,000

₹ 4,28,722

₹ 35,726

₹ 28,722

₹ 8,00,000

₹ 8,57,445

₹ 71,453

₹ 57,445

₹ 10,00,000

₹ 10,71,807

₹ 89,317

₹ 71,807

How to apply for IIFL Personal Loan?

While you can do your IIFL personal loan application through Afinoz, you should follow the following:

  • Check your IIFL personal loan eligibility with the personal loan eligibility calculator at Afinoz. Simply visit Afinoz.com, fill in a few easy details and get an instant and accurate assessment of your personal loan eligibility
  • Check your IIFL personal loan EMI with the personal loan EMI calculator at Afinoz.com. This will help you to know the exact amount you need to pay every month towards the repayment of your loan
  • Check the documentation required for your IIFL personal loan application. Whether you are salaried or self-employed, applying with the proper set of documents will enhance your chances of getting your loan approved in the least possible time

IIFL Personal Loan Status

With IIFL, one can easily track the status of your personal loan process application by taking a few steps. First, by visiting the online site or the mobile phone application, and login using your credentials, one needs to enter the application number. Going forward, the page shows the account summary, where one easily tracks the loan application status, thus can know whether the loan has been approved, in process or is rejected.

Why should you apply for an IIFL Personal Loan through Afinoz?

Afinoz is one of India's leading personalized financial marketplaces. It has created a personal loan platform that lets you choose the best personal loan from multiple options available to you. All the options are system generated, designed while taking into consideration your specific needs and requirements:

Instant Approval – Once you fill in some basic details and submit your application form along with valid documents, your e-approval will be accorded within 2 to 3 days.

Real-time application tracking – You can keep track of the application status in real-time with a unique transaction id that is generated at the time of IIFL business loan application submission. We ensure that all the applicants are kept informed about their application process at each step via regular SMS and emails.

Online eligibility check – You can do all your dealings with the lender online. You just need to provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from IIFL for your personal financing.

Secure Environment - Afinoz.com has a built-in security system in place for your personal information which is stored in a secure environment in our system with your consent. This information is then sent to the lenders in an encrypted format digitally and is extremely secure.

24/7 Customer Service - At any stage of your application process, if you happen to have any query or wish for any financial advice, our experienced customer service professionals will offer the best financing/investment solutions to address your issues. So there is no need for you to waste time and make multiple trips to the lender to discuss loan specifications with them.

No third-party agent – Afinoz online loan application process is absolutely free. Through Afinoz one can directly approach multiple providers online without involving any agent and therefore avoiding unnecessary delays and hassles.

Free quotations – Get online deals on an IIFL personal loan or IIFL business loan and get free unbiased quotes of the best loan rates. All you have to do is to select the loan amount you want to borrow and the tenure of the IIFL personal loan. You will get a customized online quote within a couple of minutes.

About IIFL

The full form of IIFL is India Infoline. It is a leading investment and financial services company in India, having its headquarters in Mumbai and with a global presence in UK, Singapore, Canada, US, Switzerland, Hong Kong, and UAE. It was founded in 1995 by Nirmal Jain. As of today, IIFL has a net worth of over Rs. 45 billion and a workforce of over 12,000 employees spreading across about 1200 locations in India. IIFL provides diverse services such as Housing Financial Services and Non-banking services, Broking, Asset and Wealth Management Services, Investment Banking, Financial Product Distribution, and Equities. IIFL was awarded in the year 2017 by Euromoney as the ‘Best Private Banking Service in India’.The Global Finance Best Private Bank Awards also awarded IIFL as the ‘Best Private Bank in India’ in the same year

➤ FAQs

Ques. How can I repay my IIFL Personal loan?

You can repay the IIFL  loan amount in Equated Monthly Installments (EMIs) using the ECS facility or through post-dated cheques each month.

Ques. What is the maximum loan amount I can get from IIFL?

IIFL personal loan offers a loan amount up to Rs 25, 00,000.

Ques. What is the tenure for an  IIFL personal loan?

You can repay your IIFL personal loan in the period of 1 year to 5 years as per your suitability.

Ques. What are the current interest rates for personal loans from IIFL ?

The current interest rate for a personal loan from IIFL bank starts from 13%.

Ques. Can an individual apply for an IIFL personal loan online?

Yes, you can do an IIFL login at the official website of IIFL . Alternately, you can apply for a personal loan from IIFL  on Afinoz.com by simply entering your personal and financial details and submitting the eligibility documents.

Ques. Is the use of the Personal Loan calculator of Afinoz free?

Yes. The Afinoz.com loan calculator tools are completely free as we don’t charge any compensation in lieu of the services we provide.

Ques. Can the EMI amount for my personal loan be known to me in advance?

Yes, Afinoz.com provides a unique EMI calculator tool that offers monthly EMI estimation for all loans by entering the loan amount, tenure and rate of interest. You can compare the EMI for different loan amounts and tenures with our tool and finalize the best-suited plan as per your budget before applying for IIFL personal loan.

Ques. Is my data safe with afinoz?

Absolutely, Afinoz does not share data with any third-party organization other than the financial institution you are applying to. All data is attached with a high degree of encryption making it absolutely safe and secure at all the times.

Ques. After applying online with afinoz.com, when will I get the loan amount and how long will it take to get disbursed?

Afinoz.com immediately submits your loan application to IIFL . Then a representative from Afinoz will get in touch with you to collect documents such as salary certificate, identity proof etc. On submitting these documents, the IIFL  initiates the necessary verification process and checks your CIBIL score and if all things have gone well, disburses the loan amount. The process may take 48 to 72 hours.

Ques. Is age an eligibility factor to get the personal loan from IIFL?

Yes, age is an important eligibility factor to get your IIFL personal loan approved. You should be at least 25 years old for the approval of the loan and a maximum of 60 years old at loan maturity time.

Ques. Why to take Personal Loan from IIFL?

IIFL offers Personal Loans starting from 13% which is lesser than many other providers. In case the EMI you are paying with your existing lender is more, then you can opt for a balance transfer option and relocate your personal Loan to IIFL at even lower rate of interest.

Ques. Are there any processing charges on IIFL Personal Loan?

IIFL charges a processing fee of up to 2% of the total loan amount along with the applicable taxes.

Ques. Are there any prepayment charges on IIFL Personal Loan?

You do not need to pay any prepayment charge, but prepayments are allowed only after you pay 6 EMIs.

Ques. How important is my credit score for getting a personal loan from IIFL?

Your credit score is an important criterion for approval of the IIFL personal loan. The bank ascertains your creditworthiness by evaluating your CIBIL or EXPERIAN score. We would recommend you to make constant efforts to enhance your credit score and to keep on updating the same. If you have a poor credit score, your IIFL personal loan application may get rejected. Even if it gets approved somehow, you may be offered unfavorable terms in comparison to borrowers with excellent credit scores.

Ques. For what purpose can I use the IIFL personal loan?

The IIFL personal loan can be availed for any genuine credit need including but not limited to educational expenses, wedding expenses, travel expenses, emergency medical needs, and so on. For any query about IIFL  personal loan application, you can call us at 0120-411-0376 or mail us at info@afinoz.com

➤ Reviews

Ajit Samal
02 Feb 2021
The loan application was easy and quick. The communication from Afinoz was clear and they were right on time with every aspect. This has enabled me to meet what I wanted to and rendered me peace of mind.
Kuldeep Singh
11 Aug 2020
It was short and easy and got a loan within days! I applied for it on Tuesday and it was approved by Wednesday!
Himanshu Verma
14 Jun 2020
I was in mental burden due to my financial burden, then found Afinoz and the money was in my bank account within 76 hours. Thanks guys.
Abhishek Sharma
11 Mar 2020
Every step went very smoothly in the loan process. Best process ever I relished. I would suggest Afinoz to anyone without any hesitation.
Vikas Singh
26 May 2019
Getting IIFL personal loan from Afinoz was very easy and fast for me and it was better than my bank. They helped me pay my credit cards off directly and I didn't have to worry about it. Thank You Afinoz!

➤ News

IIFL Finance introduces quick business loan via WhatsApp
12 Oct 2021
Leading moneylender in India - IIFL Finance has announced to offer instant business loan by means of WhatsApp, whereby customers of the latter will be able to avail of loan amount of up to Rs. 10 lakhs with minimum documentation and get approval within a matter of 5 minutes. The retail-aimed NBFC, in a statement, claimed that it is the 1st NBFC in India to launch instant business loan via WhatsApp.