What are the IDFC Personal Loan Foreclosure Charges?

Hi Vicky. There are no IDFC personal loan foreclosure charges as the bank has set no charges for it under the FIRSTmoney service. You can foreclose your IDFC Bank personal loan without having to pay any fee for it. However, I did find out that in the case of pre-approved loans levied from IDFC Bank, the financial institution has set a foreclosure charge of 5 percent of the principal amount after 12 months. Let me tell you more below.

Charges Under Pre-Approved Loan from IDFC

Here are the charges applicable under the pre-approved from the IDFC Bank.

I recommend you contact the loan officer at the bank for any other information related to foreclosure charges. I will wrap up my answer. I believe you now have a good idea about the IDFC First Bank personal loan foreclosure charges.

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Some related information:

IDFC Personal Loan Lock In Period and Prepayment Terms?

Banks usually levy foreclosure charges and I was quite surprised to learn that the IDFC personal loan foreclosure charges are NIL. When I decided to prepay my loan, I visited my IDFC bank branch and asked the official about the foreclosure charge. That is when I learned that no foreclosure or prepayment charges are levied by them. Here are some more details you should know about the foreclosure fee.

What are the IDFC First Bank Personal Loan Foreclosure Charges?

IDFC bank personal loan foreclosure charges are NIL. I enquired about it from an official and even later checked it on their website and found the same answer. They levy ZERO foreclosure charges on personal loans. This means that you can repay your outstanding amount within the stipulated time without having to pay any extra fee.

But do remember that this is only applicable for IDFC BANK. other banks might levy foreclosure charges so I will always suggest you ask for all the details before applying for a personal loan. 

Mr Parth has rightly mentioned the other relevant charges correctly; hence, you can go through them as well. These are the primary fees associated with a personal loan.

I hope I have been able to answer your query on IDFC foreclosure charges for personal loan well.

Read More:

Hello there. I saw you asking about the IDFC personal loan foreclosure charges and I am here to help you with the same. Let me tell you, IDFC Bank charges no foreclosure charges for their personal loan. 

What are the IDFC First Bank Personal Loan Foreclosure Charges and Other Fees?

As I already mentioned there are no foreclosure charges for IDFC Bank personal loans. You need to submit the sanction letter at the time of loan foreclosure. There are other charges related to the IDFC personal loan, which I feel will be useful to share with you.

Here are the different kinds of charges levied by IDFC First Bank for their personal loan.

This is all from my side for this answer.. I hope you now know the IDFC foreclosure charges for personal loan.