Capital First is one of the leading non-banking financial corporation operating in India and offering personal loan to Salaried and Self-Employed Professionals only. Capital First offers personal loan from minimum Rs. 1 Lac to maximum Rs. 25 Lacs with loan repayment period ranging from minimum 12 months to maximum 60 months. You can avail the personal loan on an annual interest rate ranging from 12% to 18% with processing charges equal to 1.50% of the loan amount. Capital First also offer personal loan to purchase Consumer Durable products, where you can avail funds from minimum Rs. 5,000 to maximum Rs. 5 Lacs with zero interest rate.
Apart from the personal loan and consumer durable loan, Capital First also offers its existing personal loan customers a facility to avail Top-Up Loan whenever they are in need of additional funds. However, top-up loan is offered based on your credit history and repayment track.
Capital First offers unsecured personal loan where you don't need to provide any security against the loan amount or required any guarantor or co-applicant and you can easily get the funds available within 2 working days time.
|Capital First Personal Loan|
|Annual Interest Rate||12% - 18%|
|Loan Term||12 Months - 60 Months|
|Loan Amount||Rs. 1 Lac - Rs. 25 Lacs|
|Time of Funding||Within 12 hours of approval|
|Pre-Closure Charges||5% on the Principal Outstanding|
|Personal Loan Type||Applicable Interest Rate|
|Capital First Personal Loan||12% - 18% per annum|
|Capital First Consumer Durable Loan||0%|
|Age||23 Years to 58 Years
28 Years to 68 Years
21 Years to 65 Years
For Consumer Durable Loans
|Income||Rs. 20,000 per month
Rs. 1 Lac per annum
|Experience at Current Profession||Minimum 3 Years
Capital First is a good fit for you if you are a Salaried or Self-Employed Professional looking for a personal loan. Capital First offers personal loans to Salaried and Self-Employed Professionals with simple requirements for eligibility criteria.
Capital First currently provide consumer durable loans from minimum Rs. 5,000 to as high as Rs. 5 Lacs. However, the approved loan amount will depend upon the creditworthiness of the applicant and repayment capability.
Capital First charges 0% interest rate to the borrower of Consumer Loan.
With Capital First, submitting all the necessary documents for your personal loan becomes easy since Capital First will send a relationship manager at your home to collect the necessary documents for personal loan.
With Capital First, you can just simply apply for a personal loan online and get approval within 2 minutes of submitting your personal loan application. However, the quick approval depends upon some simple factors such as existing loan, your repayment capacity and submitting all the necessary documents.
With Capital First, you don't need to worry about cancelling your personal loan if you fund requirements has been solved already and pay loan cancellation charges. Capital First doesn't levy any fee if you decide to cancel your approved personal loan. All you need to do is simply call Capital First Customer Support at 1860-500-9900 to make a loan cancellation request or you can write an email to them regarding the same at email@example.com.
Capital First doesn't offer personal loan to Self-Employed Businessman.
Capital First gives you the facility to prepay your personal loan whenever you have the funds available with you. However, you are not allowed to prepay your personal loan before the first 6 months from the date of loan disbursement. After 6 months lock-in period, you can make a full closure against your personal loan account by paying a 5% fee on principal outstanding amount.
Capital First doesn't give you the flexibility to change your EMI due date against your personal loan. So, if you are a salaried person where the EMI due date is before your salary day, it could be a huge problem for you since you will have to pay late payment charges every month.
The part-payment is not allowed by Capital First. Thus, you have only option to prepay your loan amount and that is only with foreclosure.
|Bank Name||Capital First||Bajaj Finserv||Fullerton India|
|Typical APR||12.% - 18%||12.99% - 18%||11.99% - 14.49%|
|Loan Term||12 Months - 60 Months||12 Months - 96 Months||12 Months - 60 Months|
|Maximum Lending Amount||Rs. 25 Lacs||Rs. 35 Lacs||Rs. 30 Lacs|
|Processing Fee||Up to 1.50% of the loan amount||Up to 3% of the loan amount||Zero to 2.25% of the Loan Amount|
|Time of Funding||Within 24 hours of Approval||Within 24 hours of Approval||Within 4 to 7 working days|
|Pre-Closure||5% of the Principal Outstanding||Zero to Upto 4%||1% - 5%|
The interest rate applicable on Capital First is slightly low as compared to its leading competitors, Bajaj Finserv and Fullerton India. However, the interest rate is still quite high as compared to many other government and public sector banks like SBI charging interest rate ranging from 11.15% to 15.05%. However, in the case of Consumer Durable Loans, Capital First charges no interest rate on the availed funds.
Apart from the interest rate, the repayment period offered by the Capital First is pretty average that many other banks are offering; However, quite low as compared to Bajaj Finserv who is offering maximum repayment period of up to 96 months to Doctors. The time Capital First takes to disbursal to the loan amount to you is usually within 12 hours of approval which is pretty quick as compared to its competitors. However, the disbursal depends on the approval and receipt of all the required documents by Capital First.
As far Pre-closure charges are concerned, Capital First charges a foreclosure or prepayment charge equal to 5% of the principal outstanding balance, which comes with a 6 months locked-in period where the borrower is not allowed to prepay the loan amount. The foreclosure charges applicable on Capital First are quite high as compared to various government and public sector banks who are levying zero charges for loan prepayment. Though, some of its competitive financial institutions are charging prepayment amount way higher than this such as Fullerton India with upto 7% of the principal outstanding amount. Apart from the foreclosure, part-payment is not allowed by Capital First, leaving you with only one option to quick repay your personal loan and that is only with Foreclosure.
Capital First is offering personal loan from minimum Rs. 1 Lac to maximum Rs. 25 Lacs to Salaried and Self-Employed Applicants only. Currently, Capital First levies a rate of interest ranging from 12% to 18% per annum on personal loans along with a one time processing fee equal to upto 1.50% of the sanctioned loan amount.
You can avail the funds for a minimum 12 months to maximum 60 months period, subject to the maximum age of the borrower at the time of full repayment of the loan. You don't need to provide any collateral or security in order to avail the funds and can get approvals within 2 minutes by applying online.
Capital First offer personal loan of minimum Rs. 5000 to maximum Rs. 5 Lacs for purchasing consumer durable products be it Cameras, DSLR, Mobile phone and Tablets, Audio Devices, Household Products such as Fridges, Washing Machine, Microwave, Kitchen Appliances, Laptop and Projector etc. The benefit of availing Capital First Consumer Durable loan is that you don't have to pay any interest on the availed loan amount i.e. zero interest rate on the loan. You can avail the funds for a minimum 12 months to maximum 36 months. However, the loan would be secured against the purchased product.
Apart from the 0% interest rate on consumer durable loan, Capital First also doesn't levies any charge for loan prepayment and you are allowed to pre-close your consumer durable loan anytime you have the funds available. As for the documentation part is concerned, you don't need to provide any document to avail the consumer loan if your Aadhar is linked to your Registered Mobile Number. Otherwise, some documents are necessary to be provided as mentioned below.
|Type of Charges||Applicable Amount|
|Processing Charges||Up to 1.50% of the loan amount|
|Prepayment Charges||5% of the Principal Outstanding Amount
For Personal Loan
NILFor Consumer Durable
|EMI Bounce Charges||Rs. 400 each instance|
|Penal Interest||2% of the overdue amount or minimum Rs. 300|
|Cheque Swap Charges||Rs. 500 each instance|
|Loan Cancellation / Rebooking Charges||Rs. 1,000
For Personal Loan
5% of the loan amount or minimum Rs. 1,000
For Consumer Durable Loan
The processing charges applicable on Capital First personal loan are equal to upto 1.50% of the sanctioned loan amount, which is quite average as compared to its competitors such as Bajaj Finserv charging processing fee of upto 3% of the loan amount and Fullerton India charging between 1.50% to 6.5% of the loan amount. However, there are various government and public sector banks that charges only 1% of the loan amount for processing fee.
As for the pre-closure fee, Capital First is charging an amount equal to 5% of the Principal Amount where pre-closure is only allowed after the 6 months from the date of loan disbursal. The prepayment amount charged by Capital First is quite high as compared to many other banks charging zero prepayment charges on personal loan.
As far as EMI Bounce Charges and Penal Interest is compared, the cost Capital First is charging is high. For the record, Allahabad Bank is charging only Rs. 250 per instance for EMI Bounce and the penal interest doesn't have a minimum limit as in the case of Capital First.
You can check the status of your Capital First Personal Loan application at Capital First website or through the Capital First Mobile App available on Google Play and Apple App Store. Apart from that, you can also contact status Capital First Customer Care at 1860-500-9900 or write an Email to them at mailto:firstname.lastname@example.org.
No, Capital First would not levied any charges on your on cancelling the personal loan application.
No, Capital First doesn’t allow to change EMI due date for the personal loan.
The EMI Due Date for Capital First Personal loan is 2nd or 5th of each month.
You can purchase various Digital and Non-digital products using the Capital First Consumer Durable loan. Below are a number of products that you can purchase using the availed funds.
Digital Products that you can buy using the Consumer Loan funds:
Non-Digital Products that you can buy using the funds:
Whereas following is the list of products that a new and EBC (Easy Buy Card) Customer can purchase.
New Customers can purchase the following products using the funds:
EBC (Easy Buy Card) Customer can purchase the following products using the funds: