Traveller’s secret: Conquer financial emergency with FIRSTmoney

The sun beat down on Anjali's back as she navigated the bustling market in Bangkok. Her senses were overwhelmed by the vibrant colours, exotic smells, and sounds that filled the air. Lost in the enchantment of her surroundings, she reached for her wallet to pay for a necklace, only to discover an empty pocket.

Panic set in as she realised her wallet, cash, cards, and peace of mind were gone. Little did she know that this was just the beginning of a series of unexpected events that would test her resilience and resourcefulness in a foreign land.

Countless travellers like Anjali find themselves in similar situations, stranded and wondering what to do next. That's where FIRSTmoney comes into play. 

Let's explore how you can manage any financial emergency during travel and how FIRSTmoney smart personal loans can help you.

Common financial emergency while travelling
 

To ensure your adventures remain stress-free, preparing for the unexpected is crucial. Here are some common financial emergencies you might encounter while travelling:

1. Lost or stolen wallet or cards -

Your heart sinks as you realise your wallet and your cash and cards are missing. This common financial emergency can disrupt your access to funds and leave you vulnerable while travelling.

2. Medical emergencies-

A sudden illness or accident can quickly drain your travel fund. Unexpected medical bills can be a major financial setback, especially in a foreign country.

3. Flight cancellations or delays-

Your well-laid finance planning can go for a toss when your flight is cancelled or delayed. The additional costs for accommodation and meals can strain your budget.

4. Natural disasters or political unrest -

A natural disaster or political turmoil can disrupt your travel plans, leading to unexpected expenses like evacuation or extended stays. It's crucial to have an emergency fund to handle such situations.

5. Overspending or unexpected expenses-

While indulging in vacation is tempting, overspending can lead to a financial emergency. Unexpected expenses like car repairs or lost luggage can also reduce your budget.

Why having an emergency fund is essential
 

Having a financial safety net or emergency fund before you embark on your journey can make all the difference in managing unexpected situations. It allows you to -

1. Cover emergency expenses - Ensure you have enough funds to handle unexpected costs like medical bills, replacement travel documents, or emergency accommodations.

2. Avoid debt - Prevent accumulating high-interest debt on credit cards or loans to cover unforeseen expenses.

3. Enjoy peace of mind - Knowing you are financially prepared can help you relax and enjoy your trip without constantly worrying about money.

FIRSTmoney - Your travel emergency fund
 

One way to ensure you are financially prepared for travel emergencies is to have access to a reliable and flexible source of funds. FIRSTmoney, a smart personal loan, can act as your emergency travel fund, providing instant access to funds whenever and wherever you need them.

FIRSTmoney is a smart and flexible personal loan for salaried and self-employed individuals designed to empower you with financial freedom. With instant access to funds up to ₹10 lakhs, you can confidently tackle any financial emergency that comes your way without derailing your travel plans.

How FIRSTmoney can help you in financial management during travel
 

With FIRSTmoney, you are not just getting a loan. You gain a financial ally that empowers you to navigate unexpected challenges confidently and easily. Here’s how FIRSTmoney can help you:

1. Instant access to funds -

When faced with an emergency, time is of the essence. FIRSTmoney ensures you have immediate access to the funds you need directly in your bank account to address the situation. Thus, you can continue enjoying your trip swiftly. 

2. Multiple loans on the go -

Unlike traditional loans that lock you into a fixed borrowing amount, FIRSTmoney allows you to avail of loans multiple times without starting the approval process from scratch. This flexibility empowers you with better finance management, as you can borrow only what you need, precisely when you need it, avoiding unnecessary interest payments.

3. Zero foreclosure charges -

Life is unpredictable, and so are finances. With FIRSTmoney, you can repay your outstanding balance anytime without incurring foreclosure charges. This flexibility lets you optimise your finance planning by paying off your loan sooner if you have the means, saving you money on interest payments in the long run.

4. Flexible repayment options-

Personalise your repayment plan to align with your budget and financial goals. FIRSTmoney offers flexible tenure options, allowing you to choose a repayment period that suits your financial situation. For instance, if you borrow ₹50,000, your EMI will start at just ₹1,637, helping you comfortably manage your loan without straining your finances.

Advantages of FIRSTmoney over traditional emergency funds
 

Here are the benefits of using FIRSTmoney during your travels -

1. No need to liquidate assets-

Unlike dipping into your savings or selling investments to cover unexpected expenses, FIRSTmoney allows you to preserve your long-term financial plans.

2. Convenient and accessible-

Apply for FIRSTmoney online with minimal documentation, eliminating the need for lengthy paperwork and in-person visits to the bank.

3. Preferential interest rates -

Enjoy competitive interest rates, starting from 10.99% p.a., making FIRSTmoney an affordable option for managing financial emergencies.

4. Credit-building opportunity -

By responsibly managing your FIRSTmoney loan, you can enhance your credit score, opening doors to even greater financial opportunities in the future.

How to utilise FIRSTmoney as a travel fund
 

Here’s how you can utilise FIRSTmoney as a travel fund during emergencies -

1. Lost or stolen wallet-

Instead of panicking, use FIRSTmoney to withdraw the cash you need for immediate expenses, like food, accommodation, and transportation.

2. Medical emergencies-

Cover unexpected medical bills with FIRSTmoney, ensuring you receive prompt treatment without worrying about financial constraints.

3. Travel disruptions -

Re-book flights, arrange alternative transportation or find new accommodation with the funds readily available through FIRSTmoney.

4. Unforeseen expenses -

Whether it's a sudden hike in tour prices or an unexpected shopping spree, FIRSTmoney can help you cover those extra costs without derailing your budget.

How to apply for FIRSTmoney to stay prepared for travel crises
 

The eligibility criteria for FIRSTmoney are –

1. You must be a salaried or self-employed individual between the ages of 21 to 60 years
2. You must have a CIBIL score of 730 or above

To apply for a FIRSTmoney personal loan, follow these simple steps -

1. Start by scanning the QR code or clicking loan from your smartphone
2. Register using your mobile number and confirm basic/personal details to check your eligibility
3. Select the loan amount of your choice and choose flexible repayment terms
4. Link your bank account where you wish the funds to be disbursed
5. Complete the Video KYC verification process with your physical PAN card

Start financial planning for your travel today
 

Don't let any financial emergency turn your dream vacation into a travel nightmare. With IDFC FIRST Bank FIRSTmoney, you can confidently explore the world, knowing you have a financial safety net. Say goodbye to the stress of unexpected expenses and embrace the freedom to travel without worry.

Ready to embark on your next adventure with peace of mind? Apply for FIRSTmoney today and experience the difference a reliable finance management partner can make in your travels.

Advantages of choosing FIRSTmoney for small loans
 

FIRSTmoney offers several unique advantages that make it an attractive option for those seeking small personal loans.

• Zero foreclosure charges:

You can repay your outstanding loan amount at any time without incurring additional fees, thus, providing greater financial flexibility.

• Flexible repayment options:

Choose from various tenure options to suit your financial situation, allowing you to manage your EMIs effectively.


• Swift disbursals:

The advanced digital application process ensures quick fund disbursal, often within 24 hours of approval.


• Loan amount flexibility:

You can get instant access to funds for your needs. Once approved, you can also access top-up loans effortlessly without starting the application process from scratch.


• High loan limits:

FIRSTmoney offers smart personal loans of up to ₹10 lakh for eligible customers.


• Competitive interest rates:

With rates starting from 10.99% p.a., FIRSTmoney offers attractive terms for borrowers with excellent credit scores.


• Fully digital process:

The end-to-end digital journey makes applying for a personal loan convenient and hassle-free.

Tips for a successful loan application
 

To increase your chances of a successful FIRSTmoney loan application and to ensure a smooth borrowing experience, consider the following tips.

• Maintain a high credit score:

Since FIRSTmoney is designed for individuals with credit scores of 730 and above, focus on maintaining an excellent credit history. Pay your bills on time, keep your credit utilization low, and avoid multiple loan applications in a short period.

• Verify your eligibility:

Before applying, double-check that you meet all the eligibility criteria, including age, employment status, and minimum salary requirements.

• Keep essential documents ready:

FIRSTmoney offers a paperless process, all you to do is keep your PAN card ready to complete the video KYC process.

• Choose the right loan amount and tenure:

Carefully consider your financial needs and repayment capacity when selecting your loan amount and tenure. Opting for a manageable EMI plan can help ensure timely repayments and maintain a good credit score.

• Use a stable internet connection:

Since the application process is entirely digital, including the video KYC process, make sure you have a stable internet connection to avoid any interruptions during the application.

• Make sure to be accurate with your application:

Provide accurate information throughout the application process. Any discrepancies could lead to delays or rejection of your loan application.

• Understand the terms and conditions:

Carefully read and understand all the terms and conditions associated with the FIRSTmoney loan before accepting the offer.

• Plan for repayment:

While FIRSTmoney offers flexible repayment options, it's essential to plan your repayments in advance to avoid any defaults or late payments.

• Use the loan responsibly:

Remember that responsible use of credit can help improve your credit score, potentially leading to better loan terms in the future.

• Keep track of your application:

 Stay informed about your application status through the IDFC FIRST Bank app or website.

By following these steps and tips, you can comfortably navigate the process of applying for a FIRSTmoney loan. FIRSTmoney's innovative features and customer-friendly approach make it an excellent choice for those seeking financial flexibility and convenience. Whether you need funds for a dream vacation, home improvements, or unexpected expenses, your FIRSTmoney Smart Personal Loan ensures you stay financially covered—quickly and efficiently. If you don’t have an emergency fund, there’s no need to panic; you can apply for an emergency loan to get the support you need.