FIRST Millennia
FIRST Classic
FIRST Select
FIRST Wealth


  • Happy Teachers' Day! Thank you for teaching us the value of Savings

  • Home Loans, now at 6.90% p.a.

    Unlimited benefits with a start-to-finish digital process with IDFC First Bank Home Loans

    Home Loan
  • Activate your Credit Card within minutes and enjoy unlimited benefits

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

Personal Loan: A guide for salaried individuals


An emergency can strike anytime. It can be a medical emergency, home renovation requirement, unplanned trip, family function, or any other kind of financial emergency. In such times, a personal loan can be the best way to avail urgent finance. Some of the best personal loans will come with a number of beneficial features that will help you easily pay bills and debt.

If you’re employed at a reputable organization and receiving a salary each month, here’s a quick guide to personal loans. 

What is a Personal Loan?

A personal loan is provided to individuals by a financial institution or bank. It is an unsecured loan which can be availed without the requirement of any security or collateral in exchange. The funds received from a personal loan can be used for any legal purpose.

What are the benefits of a Personal Loan?

  • You can use it for multiple purposes
  • You receive the funds in no time
  • No documentation is required for pre-approved customers
  • It comes with flexible tenures and pocket-friendly EMIs
  • Attractive interest rates

How much Personal Loan can you avail?

This value will depend directly on your salary, the organization you are employed with, and the amount of years spent in service. It will also depend on whether you have any existing debts. Your credit score will also be a determining factor. You may use a personal loan calculator to get an idea of how much you would have to eventually pay.

Here are two essential conditions when it comes to personal loan eligibility:

  • The applicant must be between the age of 23 to 60
  • Only an Indian resident can apply

Most salaried individuals would be eligible for some of the best personal loan offerings in the market. Organizations and companies are not eligible for personal loans. 

Please Note: Banks require that all loans be repaid before a salaried individual retires.

Benefits of taking a personal loan with IDFC FIRST Bank

Minimal Documentation: You only have to submit documents that can verify the basic details such as identity proof, address proof, and income proof.

No physical visit required: The entire application process is carried out through our website or the IDFC FIRST Bank Loans App on your smartphone.

Flexibility of purpose: You can avail the loan for any reason or situation.

Quick disbursal: Once your loan request is approved, the loan amount is disbursed into your personal savings account within minutes.

Apply for a loan with IDFC FIRST Bank

The process of applying for a personal loan with us is completely digital and user-friendly:

  • Fill in the required details in an online application on the website or in the IDFC FIRST Bank Loans App
  • Your eligibility will get you the loan offer within minutes
  • Upload the necessary documents online during your application.
  • Once verification completes, the loan amount will be disbursed to your bank account.



The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.