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Tips for crafting the perfect Personal Loan sales pitch

21 Dec 2021 by Team FinFIRST

Tried And Tested Ways To Process Personal Loan To Customers

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Pitching a Personal Loan the Right Way

A decade ago, personal loans were not the most popular products; awareness was low, and it was difficult to get one. But in recent years, with the improvement in the standard of living, personal loans have become more and more popular, especially among private banks. This change has been encouraged by the rapid digitization of financial services.

Did you know that you can also become a personal loan facilitator?

By joining the IDFC First Bank MyFIRST Personal Loans Partner Program, you can directly partner with IDFC First Bank to help your friends, family, and acquaintances get personal loans. In other words, you act as a medium between the bank and the person who wants a personal loan.

Joining this program is simple, safe, and does not require any payment or investment. All you need to do is download the referral program app, provide some basic details and get started.

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How to help borrowers get loans on the MyFIRST Partner Program?

As a partner on the MyFIRST Personal Loans Program, you can help potential borrowers understand what a personal loan is, explain the features one should look out for in a personal loan, and tell them how IDFC FIRST Bank personal loan is the perfect option. The following benefits of IDFC First Bank can be discussed:

1. Rate of interest

The rate of interest offered on a personal loan is likely to be one of the most important deciding factors for choosing a lender. The lower the rate of interest, the lesser the loan will cost the borrower. Personal loans tend to have higher interest rates than secured loans; however, IDFC FIRST Bank personal loans are offered at incredibly competitive interest rates starting at 10.49% per annum.

2. Documentation

The application process at many banks requires visits to the branch, submission of paperwork, and other hassles. With IDFC FIRST Bank personal loans, the application process is completely digital and paperless: borrowers can apply for a personal loan and have it sanctioned from their homes.

As a partner on the MyFIRST Personal Loan Partner Program, you can make the loan application process easy and quick for borrowers. On the MyFIRST Partner App, you can onboard borrowers and track their applications. Once the loan is sanctioned, you earn 1.5% of the disbursed loan amount. This way, you can earn some money.

3. Repayment tenure

Borrowed money has to be repaid, ideally at terms that are convenient to the borrower. IDFC FIRST Bank offers flexible repayment tenures for its personal loans: borrowers can take as long as 60 months to repay their personal loan. This allows borrowers to spread repayment out over a time period that is comfortable to them and in line with their personal finances.

4. Additional features

IDFC FIRST Bank offers borrowers great additional features: borrowers can transfer existing personal loans taken from other banks to IDFC FIRST Bank to enjoy a better interest rate. This type of flexibility makes IDFC FIRST Bank personal loans unique—they make life easier for you.

5. Quality of service

The borrower may have doubts, questions, or problems that need resolution. At IDFC FIRST Bank, our customer service team is always available to help customers with whatever their problems are. Additionally, with the MyFIRST Partner App, borrowers can always turn to you for help. And if you need any help, we have a dedicated Relationship Manager to answer all your questions.

IDFC FIRST Bank personal loans have been designed to offer a stress-free, affordable, and flexible borrowing experience, which makes them very easy to sell. They are a perfect example of a product that sells itself. As a partner on the MyFIRST App, your job is simple—all you need to do is list the above benefits of IDFC FIRST Bank personal loan to people in your social circle. Next, help them through the loan process via the app and earn up to Rs. 50,000 and even more per month. (T&Cs apply).

To earn over Rs. 50,000 and more every month, download the MyFIRST App TODAY! Start referring to enjoy a second income and unbelievable benefits: Click here to download or contact us for more information.

Disclaimer

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.

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