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What was the ROI?

@akshayhs 12%

Yes it is common practice in IDFC First smart loan application. When u apply through app it will show as if all done but u will get a call from their Mumbai HO relationship team. They will confirm ur details like loan amount, tenure, ROI etc and send u a link to do esign. As soon as u do that u will receive the loan amount into ur SA. Only thing wrong in ur case is that the agent was trying to mis-sell the Insurance policy. My IDFC agent was good. She didnt force me to get that insurance and clearly told that it is optional. U try again and tell them confidently that u know about the insurance being optional and and that u dont need one. They r just trying to meet their targets i guess.

@Dr.AMAN Yes, one of the agents also confirmed the same that insurance is optional, but when I ask for the EMI amount, his EMI amount is more than 1000 Rs from what I can see in the app for the same tenure and loan amount.

The processing fees will be added to ur principal amount and monthly interest will be on that Principal+processing fees combined. Maybe thats y. Apart from this everything is very transparent in the application process. Just make sure u r not paying >2% processing fees and ur ROi is 12% when u submit the esign. Rest everything is automated so they cannot change it.