IIFL Finance Ltd. is an integrated financial services company. It offers products and services through following businesses: IIFL Finance, IIFL Wealth, and IIFL Securities. The IIFL Finance offers home loan, loan against property, gold loan, commercial vehicle finance, loan against securities, SME business loan and Micro finance, financing solutions and retail home loan. The IIFL Wealth offers advisory, wealth structuring solutions, asset management, and onshore and offshore distribution services. The IIFL Securities engages in financial advisory and broking, financial product distribution, and institutional research & investment banking. The company was founded by Nirmal Bhanwarlal Jain on October 18, 1995 and is headquartered in Mumbai, India.
A personal loan is a good way to address short term loan requirements. Whether you want to match a medical emergency, wedding expenses, travel expenses or home makeover, you can get an instant cash loan for any sort of need. Besides being cost-effective, they give an additional advantage as to secure them, you don't need to pledge any kind of your valuables. This is the reason that most of the borrowers admit personal loans as the best way to get an instant loan in India.
Any individual who is an Indian citizen or national and has residual income qualifies for the personal loan. By design Personal Loans are unsecured loans and therefore an applicant does not have to worry about furnishing paperwork related to collateral. For getting a personal loan, you need to fulfill certain parameters as a part of the eligibility criteria.
|IIFL||ROI||Max Loan Amount||Tenure||Processing Fee||Late Payment||Foreclosure Charges||Partpayment Charges|
|Car Loan||12%||Vehicle Value||12 months to 60 months||Rs. 4,500 to Rs. 8,000 or 1% of loan amount||6% pre-payment fee within the first year||3% per day post due date||N/A|
|Home Loan||9.50%||2 cr||30 years||upto 0.75% of loan amount, or Rs. 3000||Nil for Individual||36% p.a of Outstanding EMI|
|Personal Loan||13%||25 lakh||12 months to 60 months||2% + GST||upto 6%||2% compounded annually||Not allowed|
|Personal Loan||ROI||Max Loan Amount||Tenure||Processing Fee||Late Payment||Foreclosure Charges||Partpayment Charges|
|Bank of Baroda||11.35% - 16.35%||10 lakh||4 years||2%||Allowed after 1 EMI's, Nil prepayment charges||N/A||Allowed after 1 EMI's,|
|IndusInd Bank||11.25%||25 lakh||60 months||2.5% + GST||Allowed after 12 EMI's, 4%||Rs 150/- plus taxes, Per EMI delay beyond 5 days||Not allowed|
|Tata Capital||11.75%||20 lakh||60 months||2.5% + GST||No foreclosure in first 6 months, 4.5% + GST||3% on Overdue Amount per month + GST||Allowed after 6 EMIs, Nil prepayment charges|
|IIFL||13%||25 lakh||12 months to 60 months||2% + GST||upto 6%||2% compounded annually||Not allowed|
|ICICI Bank||11.25%||30 lakh||60 months||2.25 % + GST||5% per annum of principal outstanding plus GST||24 % p.a on amount outstanding from date of default||Not allowed|
|HDFC Bank||11.25 % - 18 %||50 lakh||60 months||upto 2.5 %||Allowed after 12 EMI's, 2 - 4%||2% per month on EMI/Principal Overdue||Allowed after 12 EMI's, 2-4%|
|RBL Bank||13.99%||20 lakh||60 months||2.5% + GST||13-18 Months: 5%, >18 Months: 3% foreclosure charges||24 % p.a on amount outstanding from date of default||Not allowed|
|Bajaj||11.99%||25 lakh||60 months||2%||4% foreclosure charge plus applicable taxes on principal outstanding||N/A||2% part-prepayment charge plus applicable taxes|
|Kotak Mahindra Bank||10.99% - 18%||15 lakh||60 months||2.5 % + GST||After 12 months, 5% foreclosure charges + GST||3% p.m compounded monthly on the Amount due||Not allowed|