Capital First Personal Loan Interest Rate

Last Updated 19th Dec 2018

Capital First Personal Loan Interest Rate Feb 2019

Capital First Personal Loan Interest Rates start from 14.00% with lowest rates for salaried borrowers working with reputed companies. Personal Loan rates for self employed are higher. Check Best Offers

Capital First Personal Loan Details
Lowest Interest Rate14.00%
Processing Fee1.00%
Loan Tenure6 months to 60 months
Loan AmountRs. 50,000 to Rs. 25 Lakh
Part Prepayment Charges Not allowed
Preclosure ChargesAllowed after 6 EMI's, 5% foreclosure charges

Valid for top companies employees

Apply for Personal Loan @ 10.75%*

Capital First Personal Loan

Capital First gives personal loan to borrowers who need funds to meet their urgent requirements. Benefits of taking personal loan from Capital First are:

  • Valid for top companies employees
  • Loans at competitive rates for others
  • Quick Loan Disbursal
  • Option to prepay after 6 months
  • Capital First has been rated 3.7/5.0 by customers for its service quality on MyLoanCare
  • Capital First offers special schemes and discounts for employees of large companies

Capital First Personal Loan Details

  • Purpose of Loan: Capital First personal loan can be used for any personal expenses which include travel, vacation, education, medical and other personal finance requirements. Bank does not allow speculative use of personal loans.
  • Key Features
    • Loan available for both salaried and self employed.
    • Borrowers within the age group of 23 and 60 years.
    • Loan amount of minimum Rs. 50,000 to Rs. 25 Lakh.
    • Loan Tenure 6 to 60 months.
    • Capital First personal loan rate of interest is in the range of 14.00% to 16.00%.
    • Lowest EMI of Rs. 2,327 per lakh.
  • Processing Fees: 1.00%.
  • Preclosure charges: Preclosure of Capital First personal loan is Allowed with 5% foreclosure charges
  • Part payment charges: Not allowed
  • Other Charges: Late EMI payment charges, EMI bounce charges, loan cancellation charges which are disclosed by the bank at the time of signing the loan agreement.
  • Special schemes: Capital First offers customised personal loan interest rates and schemes for special category of borrowers including borrowers working in reputed companies, banks or government employees etc. Some of the special personal loan schemes of Capital First are:

Capital First Personal Loan Top Up

Top up on personal loan is an additional loan that can be availed from your existing bank on your running loan or at the time of balance transfer of your loan to a new bank. You can get top up on personal loan from Capital First if you have a regular repayment track record on your existing personal loan. Top up loans are available at similar interest rates as that on your existing personal loan. Current interest rate on Capital First personal loan top up starts at 14.00%.

Capital First Personal Loan Interest Rate Calculator

You can get the best personal interest rates from Capital First subject to an assessment of your loan amount, salary, other obligation company you work with and loan tenure. The following factors determine the personal loan rate of interest you can expect to get from Capital First:

  • Loan Amount - This is the amount borrowed by a borrower from the bank. Generally banks offer lower interest rates for higher amount. Capital First offers loan between Rs. 50,000 and 25 Lakh.
  • Salary - Income defines your capacity to repay the loan. Higher salary bracket individuals are offered loans at lower interest rates. Interest rate of the bank varies with your net monthly income.
  • Employer Category - Capital First has an internal list of companies falling into categories that are ranked from high to low company categories based on company’s size, reputation and existing relationship with the bank. Employees who belong to companies in higher company categories get attractive discounts and low interest rate loans.
  • Relationship with the Bank - Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get the benefit of low Capital First loan interest rate.
  • Loan Tenure - Personal loans are of shorter tenure ranges from 6 months to 60 months as they are taken to meet their immediate requirements.
  • Repayment Capacity - Before giving loan to the borrower, Capital First checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has the repayment track record of previous loans taken. CIBIL also captures information of credit card bills payment.

Capital First also offers loan to defence, armed forces and government employees. Personal loan interest rate for government employee and defence personnel varies from private salaried employees

Capital First Personal Loan Charges

In addition to Capital First’s personal loan interest rate, you need to compare other charges on the bank’s personal loan before taking a decision to borrow from the bank include:

  • Part Payment Charges - Part Prepayment on Capital First’s personal loans is Not allowed
  • Preclosure Charges - These are to be paid in case you want to repay your entire loan amount before the end of tenure period. Capital First allows preclosure of personal loan after 6 EMI's at preclosure charges of 5% foreclosure charges.
  • Processing Fee - Capital First charges a processing fee of 1.00% of loan amount with applicable tax. The processing fees is non-refundable for most of the banks.
  • Other charges: Once your loan application is sanctions, Capital First will provide you a statement of other charges applicable on your personal loan account. Some of these charges are interest charged on late payment, EMI cheque bounce charges and loan cancellation charges, which are payable only if you delay in EMI payments, cheque bounces or you decide to cancel your loan after sanction

Capital First Personal Loan: How to Apply

If you want to get a loan from Capital First, the process to get the loan is fairly easy. All you need to do is to apply for a personal loan at MyLoanCare. We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, Citibank. Your loan application will be processed online and Capital First’s representatives will get in touch with you instantly to take the loan process forward. You will also get the free services of MyLoanCare’s personal loan advisor who will ensure that the lending process is quick and you get the best personal loan from Capital First.

You can also do a comparison of Capital First Personal Loan Interest rates and other charges using MyLoanCare comparison tool. Click here to go to the comparison tool. Once you apply online, you can check the real time status of your personal loan application in your customer account section of MyLoanCare.

Documents Required

For salaried employees
  • Filled up loan application form
  • 2 Passport Size Photo
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Residential Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill (upto 3 months old)
  • Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit
Illustration on Personal Loan Capital First
Maximum Annual Percentage Rate (APR) 14.00% to 16.00%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 1 Lakh
  • Time period: 6 months to 60 months
  • Capital First Personal Loan Interest Rate: 14.00% to 16.00%
  • Processing Fee payable to Capital First: Upto Rs. 2,000. Current offer for processing fee is 1.00%
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 2,327 for a 60 months Rs. 1 Lakh loan at 14.00% (lowest rate, longest time period) to Rs. 17,453 for a 6 months Rs. 1 Lakh loan at 16.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 14.00% to 16.00%
  • Total cost payable over loan tenure: Rs. 6,718 for 6 months loan to Rs. 41,620 for 60 months loan

Capital First’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure: 6 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Capital First.

Compare Personal Loan Interest Rates of Capital First with other Banks

Frequently Asked Questions on Capital First Personal Loan

How much time will the Capital First take to take a decision on my personal loan?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers which can be approved within a few hours to 2-3 days.

Why to take personal loan from Capital First ?

Capital First offers loan at 14.00% rate with the lowest EMI of Rs. 2,327 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Capital First.

How much interest is charged by Capital First on personal loan?

Personal loan interest rates in Capital First are 14.00% to 16.00%. Capital First personal loan interest rate for salary account holders are comparatively lower than that for other customers.

What is the lowest EMI per lakh on personal loan from Capital First ?

If you apply for loan from Capital First, your lowest EMI per lakh will be Rs. 2,327.

What is the minimum and maximum tenure of personal loan in Capital First?

You can repay your personal loan in a flexible period of minimum 6 months to maximum 60 months.

How much personal loan amount I can borrow from Capital First?

Capital First offers you loan if you need a minimum amount of Rs. 50,000 to a maximum amount of Rs. 25 Lakh

How much processing fee is charged by Capital First on personal loan?

Capital First charges a processing fee of 1.00% with applicable service tax.

Is age an eligibility factor to get personal loan from Capital First?

Yes, age is an important eligibility factor to get personal loan as you should be at least 23 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on personal loan from Capital First?

You can take personal loan from Capital First with Prepayment charges 5% foreclosure charges

Can I add my spouse's income while applying for personal loan from Capital First?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.

Capital First Personal Loan News - Feb 2019
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.