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IDFC bank loan EMI payment online on Bajaj Finserv

You can quickly pay IDFC First Bank loans without facing any technical glitches through the BBPS platform on Bajaj Finserv. While you can make IDFC First Bank loan payments by visiting the bank's nearest branch, you will not enjoy the convenience offered by online payments. When you choose Bajaj Finserv to make IDFC loan payment online, you can pay within minutes, anytime and from anywhere. The BBPS platform on Bajaj Finserv is a safe and reliable platform to make IDFC Bank loan payments, and there is no threat to your privacy. It grants greater flexibility as you can choose from the multiple payment modes available while making IDFC loan payments.

The Bharat Bill Payment System (BBPS) is an integrated platform operated by the National Payments Corporation of India (NPCI). It streamlines digital payments and renders them quickly. When you use the Bajaj Finserv BBPS platform to make IDFC loan repayment and score discounts on successful transactions.

  • Benefits of making IDFC bank loan EMI payment on Bajaj Finserv

    When paying for your IDFC Bank loan EMI online through the Bajaj Finserv BBPS platform, you can avail of the following benefits:

    • Ease of payment
      You can make your IDFC Bank loan EMI payment online at any time from the comfort of your home before the due date.
    • Multiple payment methods
      The Bajaj Finserv BBPS platform allows you to use credit/debit cards, net banking, UPI, or Bajaj Pay Wallet to make transactions incredibly convenient.
    • Safe and secure
      Bajaj Finserv provides a safe and secure payment platform. Your payment details are secure with the platform’s robust security measures.
    • Instant billing receipts
      When you make the IDFC Bank loan EMI payment, you will receive instant transaction IDs and billing receipts. It ensures better transparency and reliability.

    Fees and charges

    A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (inclusive of applicable taxes). For more information on fees and charges, click here.

    Note: For failed transactions, the total amount including charges except taxes are reversed.

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Steps to make IDFC bank loan repayment on Bajaj Finserv

Follow these steps to repay your IDFC bank loan using the BBPS platform on Bajaj Finserv:

  1. Download the Bajaj Finserv app from Google Play Store or App Store
  2. Login using your registered mobile number
  3. Click on 'LOAN REPAYMENT' under the 'FINANCIAL SERVICES AND TAXES' section
  4. Choose your biller from the drop-down menu
  5. Click on 'PROCEED' after entering your loan account number
  6. Choose your preferred payment method and finish the transaction

What is the interest rate of IDFC Bank loan?

Loan Type Starting Interest Rate Maximum Interest Rate  
Personal Loan 10.75% p.a. 18.00% p.a. Varies based on credit score and employment status.
Home Loan 6.50% p.a. 7.35% p.a. Rates for salaried individuals are lower.
Car Loan 7.85% p.a. 9.00% p.a. Similar to Home Loans, salaried individuals get lower rates.
Gold Loan 7.50% p.a. 12.00% p.a. Depends on loan amount and loan-to-value ratio.
Loan Against Property 9.50% p.a. 13.00% p.a. Based on loan amount and property value.
Education Loan 8.40% p.a. 11.50% p.a. Varies depending on loan amount and course/institute.
MSME Loan 9.50% p.a. 14.00% p.a. Depends on loan amount, business type, and credit history.

Know the types Of loans provided by IDFC Bank

Loan Type Description
Personal Loan Unsecured loan for various purposes like debt consolidation, home improvement, etc.
Home Loan Secured loan to purchase or refinance a home.
Car Loan Secured loan to purchase or refinance a car.
Two-Wheeler Loan Secured loan to purchase or refinance a two-wheeler.
Gold Loan Secured loan against gold ornaments.
Loan Against Property Secured loan against residential or commercial property.
Business Loan Secured/ unsecured loan for business purposes like working capital.
Education Loan Secured/ unsecured loan to finance education expenses.
MSME Loan Secured/ unsecured loan for micro, small & medium enterprises.

Types of IDFC Bank loan charges

Charge Type Description Applies to Cost
Processing Fee Upfront fee for processing the loan application. Most Loan Types Up to 3.5% of Loan Amount (Personal Loan)
Prepayment Charge Fee charged for early repayment of the loan. Varies by Loan Type Up to 5% of Outstanding Principal (Personal Loan Prepayment within 6 Months)
Late Payment Charge Fee charged for missed or delayed EMI payments. All Loan Types Up to 2% of Unpaid EMI or INR 300 (whichever is higher)
Stamp Duty Government tax levied on loan agreements. All Loan Types Charged as per actuals based on Loan Amount and State Regulations
EMI Bounce Charge Fee charged for bounced EMI payments. All Loan Types Up to INR 400 per Bounced EMI
Cheque/ECS Swap Charge Fee for changing EMI payment method. All Loan Types Up to INR 500 per Transaction (except free for switching to IDFC Bank)
Duplicate Statement/NOC Fee Fee for issuing duplicate loan statements or NOCs. All Loan Types Up to INR 500
Physical Statement Fee Fee for receiving physical loan statements. All Loan Types Up to INR 500 per Statement
Loan Cancellation Charge Fee charged for canceling the loan within a specific period. Varies by Loan Type Refer to specific loan agreement
Document Retrieval Charge Fee for retrieving loan documents. All Loan Types Up to INR 500 per Instance
Part Payment Charge Fee charged for making partial payments on specific loans. Specific Personal Loans Up to 2% of Part Payment Amount

Other online loan repayments across India

Apart from IDFC Bank, Bajaj Finserv also allows you to pay EMIs online for other banks across India. You can pay EMIs for other loan providers such as Manappuram Finance | IIFL | Hero Fincorp | Muthoot Finance | ICICI bank | HDB Finance | Axis bank | Mahindra Finance and many more.

Frequently asked questions

How do I check my IDFC loan balance?

You can check your IDFC loan balance by logging in to the IDFC First Bank app or website. From finding out the application status of your loan to getting updates about your loan, you can do everything related to your loan on the IDFC First Bank app and website.

How do I foreclose my IDFC loan?

You can foreclose your IDFC First Bank personal loan by visiting your nearest IDFC First Bank branch and providing all necessary documents such as identity proof, last EMI payment, and loan account number. The next step is to pay the outstanding amount and the foreclosure charges. Once the payment is complete and the documents are verified, the bank will acknowledge the loan foreclosure.

What is my IDFC loan number?

Your IDFC loan account number is a unique number assigned by your bank when your loan is approved, and the loan account is created. The bank keeps track of all the loans sanctioned using the loan account numbers.

What are the bounce charges in IDFC bank?

If your cheque towards the EMI payment bounces or your account balance is insufficient at the time of the EMI payment, an EMI bounce charge is applied. In the case of an IDFC First Bank loan, Rs. 400 + GST as applicable is charged per instance of dishonour of cheque.

How can I check my IDFC First Bank EMI?

You can check your IDFC First Bank loan EMI by visiting the official website or downloading the mobile app of IDFC First Bank. Follow these steps:

  1. Login to the customer portal using your user ID and password
  2. Go to the menu section, click on ‘PRODUCT AND SERVICES’ and click on ‘CHECK APPLICATION STATUS’
  3. Enter the credentials of your personal loan and click on ‘SUBMIT’
  4. You can now check the EMI of your loan

Alternatively, you can also call the bank’s helpline number on 1860 500 9900 or visit the nearest branch to check your EMI status.

How can I download my IDFC bank statement?

Login to IDFC First Bank net banking by entering your username and password. Click on the ‘ACCOUNT STATEMENTS’ tab and select your account. Choose the period for which you want the statement and download the e-statement.

How do I get my IDFC consumer durable loan?

You can avail of your IDFC First Bank consumer durable loan online by visiting the bank’s official website or downloading the mobile app. You can get the approval online and then go to your preferred store and purchase the product that you want on EMI.

How do I find my IDFC customer ID?

You can find your IDFC customer ID on your welcome kit or by visiting the IDFC internet banking website. Log in using your username and password. You can view your customer ID on the left side of the screen.

How can I check my Capital First loan status?

You can use the IDFC First Bank app to check your Capital First loan status.

How can I register for IDFC First Bank net banking?

You can register for IDFC First Bank net banking by following these easy steps:

1. Visit the IDFC First Bank website, and select the ‘LOGIN’ option

2. Click on ‘CREATE USERNAME’, enter your UCIC/ customer ID and click ‘SUBMIT’

3. Now enter the account number, or debit card number, or loan account number and enter the OTP received on your registered mobile number

4. Choose a username, create a net banking password and click on ‘SUBMIT’

How do I check my loan details with IDFC First Bank?

You can check your IDFC loan payment status and details by checking your loan statement. Follow these steps to view the loan statement:

  • Head over to the official website of IDFC First Bank
  • Log in to your account by entering your customer ID and password
  • Click on ‘VIEW STATEMENT’ to check your loan details
Can I check my IDFC bank loan status?

Yes, you can check your IDFC loan status on your IDFC bank mobile app or website.

What is the loan ID number?

The loan ID number is the loan account number provided by IDFC First Bank to every borrower once the loan gets approved. The loan ID is unique for every customer and allows them to access their account.

What are the payment methods for IDFC First Bank loan payment?

You can make IDFC loan online payment using the BBPS platform on Bajaj Finserv using the following payment modes:

  • Credit card
  • Debit card
  • Net banking
  • UPI ID
  • Bajaj Pay Wallet
Can I pay my IDFC loan EMI in advance?

Yes, you can pay your IDFC loan EMI in advance for up to a month.

Can I pay the loan before the due date?

Yes, you can complete IDFC loan repayment before the due date. However, a 5% fee is chargeable on the outstanding amount on foreclosure of the loan.

How can I pay my loan faster?

You can ensure faster IDFC loan repayment by part prepaying or foreclosing the loan.

How can I avoid paying interest on a loan?

You cannot avoid paying interest on a loan, but you can reduce your interest by maintaining a good credit score. Prepayment of loans can also reduce the interest, but the bank may levy a part prepayment fee.

How do I clear a loan from IDFC First Bank?

You can clear a loan from IDFC First Bank by paying the last EMI through your preferred payment mode. Once you have completed the IDFC bank loan payment until its maturity, contact the bank officials and submit the required documents authenticating your identity and loan details. You will receive a No Objection Certificate (NOC), mentioning that you have cleared your loan upon verification of the documents.

How do I pay a bounced IDFC loan EMI?

You can pay bounced IDFC loan EMI using the IDFC quick pay facility on the bank’s official website. You can also make an offline payment by visiting the nearest IDFC First Bank branch.

How can I check my EMI balance in IDFC?

You can check your EMI balance by downloading and installing the IDFC First Bank mobile app. Once installed, you can log in to your account and check the EMI that you need to pay.

How do I check my loan balance?

You can check your IDFC loan payment balance by giving a missed call on the toll-free number 18002700720.

How can I check my IDFC loan EMI status?

By following these steps, you can check your IDFC bank loan payment EMI status:

  1. Download and install the IDFC First Bank mobile app
  2. Log in to your account using your credentials
  5. Type in the details of your loan
  6. Click on ‘SUBMIT’
  7. You can check your EMI status
How do I check if my IDFC loan is active?

You can check the status of your IDFC First Bank loan by dialling the toll-free customer care number 18605009900.

How do I close my IDFC First Bank loan?

You can close your IDFC First Bank loan by following these steps:

  1. First and foremost, pay the last EMI
  2. Once you have made the IDFC loan repayment, contact the bank for loan closure
  3. Provide all the documents to the branch from where you availed of the loan
  4. After verification, the bank will offer a No Objection Certificate (NOC) stating that you have repaid the loan
Does Bajaj Finserv provide recharge services apart from loan payment?

Yes, Bajaj Finserv also provides recharge services such as:

Does Bajaj Finserv provide other bill payment services apart from loan payment?

Yes, Bajaj Finserv also provides other bill payment services such as:

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