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Infrastructure Development Finance Company has been closely associated with the Indian growth story from the year 1997 when it was founded. From the year 2005, it has scaled up the vision towards building one organization which takes care of diverse needs related to infrastructure development. From financial assistance for infra projects and services and addition of value through innovative financial products to infra value chains and asset maintenance of existing infrastructure projects, supporting companies have always been focused on here for getting fabulous returns from investments.
About Infrastructure Development Fin
The organization’s growth has been largely driven by considerable investment requirements of the Indian infrastructure sector in tandem with the economic growth over the last few years. The company’s ability to cash in on global and Indian financial resources makes it the acknowledged go-to solution and expert in terms of infrastructure financing and development. IDFC Bank was set up when the Reserve Bank of India (RBI) granted the in-principle approval in April 2014 for the setting up of a new bank in the private sector as per its guidelines. Thereafter, a scheme of arrangements was filed with the Madras High Court for demerger of financial undertaking (lending businesses of IDFC) to IDFC Bank .All approvals were obtained and the demerger was approved by the Court on the 25th of June, 2015. The core vision is striking the right balance between ambition and sustainability. Collaborations are encouraged with experts and there is a drive towards continually surpassing customer expectations. Other core values include honesty, transparency and customer centricity.
The spectrum of IDFC financial services is vast and covers both the bank and the Securities Wing apart from Alternative Asset Management (Infra, real estate, private equity), Public Market Asset Management (Mutual Fund) and IDF Foundation (Policy Advocacy, Government Advisory, Community Engagement and Capacity Building).
IDFC banking services are characterized by a vision towards delivering suitable banking anytime and anywhere at scale with the use of proper technologies for driving greater efficiency and also for setting new customer convenience and experience benchmarks. Transparency, simplicity and clarity are major values and there is a focus on helping customers make the right financial decisions with suitable empathy, service and a thorough understanding of customer needs. The bank believes in innovation and technology and in being an organization which recognizes customers as persons and not as numbers. The spirit of respect and collaboration is what the organization thrives on at all times.
IDFC Bank Personal Loan
IDFC Bank loan schemes include personal loans. The Simple Personal Loan offers competitive interest rates and speedy processing. There is 24-7 banker on call support along with flexible loan tenures starting from 3 moths. There are multiple insurance covers including insurance coverage under critical illness, personal accident insurance, job loss cover and death cover. In case of the smart personal loan, one can make part prepayments anytime and save interest without paying any fees. Here, there are competitive interest rates, banker on call support 24-7, multiple insurance covers as before and flexible loan tenures as well.
There is also the balance transfer personal loan where you can switch your present loans to IDFC Bank to get better interest rates and pay everything at one place. All existing loans can be consolidated into one loan account here and you need to pay only one consolidated EMI for the same. You can choose between Simple/Smart Personal Loan types while executing balance transfer proceedings.
IDFC Bank Home Loan
There is the simple home loan available where you can get loans up to INR 10 crore and 85% of the property value. You only have to repay the interest during the construction period. You can increase your loan eligibility by adding incomes of your family members and can also insure yourself with mortgage credit shield at special rates. The IDFC interest rates are really competitive in this case. Salaried professionals can have flexible repayment periods up to 30 years and repayment up to retirement age or 60 years. The minimum age is 21 and there should be minimum work experience of two years.
For those who are self employed, flexible tenures up to 20 years are provided and repayment till 65 years is also possible. Minimum age has to be 23 years along with minimum of three years as work experience. In case of the Short & Sweet Home Loan, loans up to 10 crore/85% of property value are provided and you can park surplus funds and save on interest. You can withdraw money like a savings account when you need the same. You can repay the loan faster and get all features of the simple home loan account. There is a debit card that is offered here as well. These two home loans can be combined into a Max Saver Home Loan while in case of the Booster Home Loan, you can get loans up to INR 75 lakhs and LTV up to 85% of the property value. You get the principal moratorium and you gain from future inflows. The added money helps you invest better while there are no initial principal payments. You get all other features present in the basic home loan types.
IDFC Bank business loans
There are various types of business and working capital loans. These include the following:
Term Loans- Credit for Business Expansion, Competitive Interest, Flexible Tenure and Maximum Tenure up to 5 years