Parameter-by-Parameter Comparison
| Parameter | IDFC FIRST Bank | InCred Finance |
|---|---|---|
| FinTech Rating & Score | 8.8 / 10 | 8.0 / 10 |
| Interest Rate (Starting ROI) | 10.75% (10.75% - 18.00% p.a.) | 11.99% (11.99% - 24.00% p.a.) |
| Maximum Loan Amount | ₹1 Crore | ₹15 Lakhs |
| Loan Repayment Tenure | 12 to 84 Months | 12 to 48 Months |
| Processing Fee | Starting from 1.00% to 2.00% | 2.00% - 3.00% |
| Minimum Monthly Salary | ₹20,000/month across Pan India | ₹18,000/month |
| Disbursal Timeline | Within 03 to 48 Hours As per profile | Instant (Same Day Approval) |
| Prepayment / Foreclosure | Zero foreclosure charges after 12 months (Conditions apply) | Flexible part-payment options available |
| Recommended For | Zero Part-Payment Fee | Best for Fast Approval |
Which Bank Should You Choose?
Choose IDFC FIRST Bank if: Professionals planning to prepay their loan within 1-2 years to save on interest, or high-income executives requiring sanctions exceeding ₹25 Lakhs.
Choose InCred Finance if: Applicants who may not meet rigid bank norms due to modest salaries, working in small unlisted companies, or possessing an average credit score.