FIRSTmoney: Your Smart Personal Loan for Every Financial Need

Welcome FIRSTmoney: Your new-age, smart personal loan alternative for important expenses

Financial needs can arise unexpectedly in today’s ever-changing world. Hence, while acquiring funds, convenience and flexibility is something that every individual looks for. Whether it is for home renovation, planning your holiday, big purchases, relocation, marriage, or dealing with an emergency, having access to quick and hassle-free financing can make all the difference. This is where FIRSTmoney steps in with a Smart Personal Loan solution, offering a quick resolution to all your financial requirements as and when needed.

What is FIRSTmoney? How is it smarter than a traditional personal loan?

IDFC FIRST Bank’s FIRSTmoney is designed to provide instant personal loans to individuals who have a CIBIL score of 730+. Unlike traditional personal loans or instant loans that usually entail a time-consuming application process which require multiple documents and are sanctioned for only one-time utilization, FIRSTmoney allows you to access funds whenever needed with just your PAN card and a quick and simple online application.

FIRSTmoney offers a streamlined, quick, and convenient borrowing experience, which is entirely Do-It-Yourself (DIY). FIRSTmoney offers the flexibility to access funds instantly, whenever you need them.. This means you can obtain funds with just a few clicks and repay them in Equated Monthly Instalments (EMIs) with flexible tenures ranging between 2 months to 60 months or choose to foreclose anytime with zero charges. FIRSTmoney offers competitive interest rates which further makes it a cost-effective option for managing fluctuating expenses.

How does FIRSTmoney Work?
 

The process of accessing funds through FIRSTmoney is simple and straightforward. A few basic details and confirmations along with a video KYC and you are done! The approval takes place in a flash and disbursal of funds is done within a few hours, at a speed unheard of in the market.

Once your loan amount is approved and the loan disbursement is made, you can take instant loans within seconds from the IDFC FIRST Bank’s Mobile Banking App. 

Repayments are flexible, with the option to repay the borrowed amount in EMIs, depending on your convenience. You can also foreclose the loan without any foreclosure charges. 

Why choose FIRSTmoney over instant personal loans?
 

1. Easy on demand loan 
 

In case you need additional loan for your upcoming expenses, FIRSTmoney offers you the flexibility to apply for extra loan with just a few clicks. No hassles of applying for loan from scratches.

2. Competitive interest rates
 

Enjoy one of the most affordable personal loan intertest rates in the industry starting at just 10.99% per annum.

3. Zero foreclosure charges
 

Instant personal loans have heavy charges on foreclosure making you feel stuck in debt. FIRSTmoney offers a cost-effective borrowing solution through zero foreclosure charges. You get the freedom to repay your used funds anytime with flexible tenure options.

4. Paperless DIY Journey
 

The entire application process for FIRSTmoney, from application to approval, is a seamless DIY process using the FIRSTmoney ‘apply now’ link or QR code, offering unparalleled convenience and accessibility.

Even setting up a bank mandate or KYC is done within a few minutes online. All you need to do for getting personal loans up to Rs 10 lakh is have a steady internet connection, a physical PAN card, and your bank account’s details.  

How to apply for FIRSTmoney?
 

Applying for an IDFC FIRSTmoney is quick and hassle-free. Simply follow these steps:

• Step 1: To start, visit the FIRSTmoney page and click on ‘apply now’ or scan the QR code.
• Step 2: Login using your mobile number.
• Step 3: Verify your basic details and check your loan eligibility.
• Step 4: Proceed by selecting your preferred loan amount and tenure.
• Step 5: Link your bank account.
• Step 6: Complete the KYC verification process and get your approvedof your personal loan.

Once your loan amount is sanctioned and loan gets disbursed, you can download the IDFC FIRST Bank’s Mobile Banking App and login using your details. Be on top of your loan details and withdraw funds as per your requirements, access other details like repayment schedules, documents, or even foreclose in case required.

Who can apply for FIRSTmoney?
 

IDFC FIRST Bank FIRSTmoney is available to Salaried and Self-Employed Individuals with a healthy credit score. To qualify, applicants are required to be:

• Between 21 and 60 years.
• Salaried and Self-Employed Individuals with a CIBIL score of 730 or more with a good repayment history.

In addition to this, applicants need to possess a physical PAN card. This is a mandatory document for the video-KYC process.

For what purposes can you use FIRSTmoney instant loans?
 

FIRSTmoney smart personal loan offers the freedom to use funds instantly without any constraints. You can use the amount for any purpose. Some important uses of FIRSTmoney include:

• Relocation or home renovation loans: Relocation to a new city or a place or renovating your home can be a significant expense which requires cash in hand at various stages. The flexibility that FIRSTmoney offers can help you with instant funds multiple times in your bank account as when required to relocate or renovate your house in different tranches. For each tranche you can choose your amount, repayment date, and EMI tenure up to 60 months.
• Travel loans: Travelling to your dream destination may require extensive planning and financial backup. Instant personal loans like FIRSTmoney let you travel stress-free in comfort and style by offering flexible loan amounts with unlimited withdrawals to fund your travel.
• Marriage loans: Marriage is an event of a lifetime, which requires cash to be paid for various things. Be it wedding shopping, paying the caterer or event planner, setting up or booking your holiday post marriage, and more. No one wants to compromise on celebrations due to any financial shortfall. FIRSTmoney offers instant access to funds with flexible loan amounts and tenures to make your wedding memorable.
• Medical loan/emergency loan: Whether planned medical expenses or emergency requirement of funds, the instant approval nature of FIRSTmoney loans makes it a perfect solution for medical or emergency needs. With FIRSTmoney, you can get instant loans and keep it handy for any emergency that may occur or to meet your planned financial medical requirements without making a dent in your savings or bearing unwanted financial burdens.

Conclusion
 

FIRSTmoney by IDFC FIRST Bank offers a modern, convenient, and smart alternative to traditional personal loans, providing instant access to funds for a variety of financial needs. With its smart facility, , flexible repayment options, cost-effective borrowing terms, and digital DIY convenience, FIRSTmoney is designed to meet your evolving needs in a smart manner. Whether it is for emergencies or planned expenses, IDFC FIRST Bank FIRSTmoney stands ready to provide the financial support you need, when you need it most.

A instant cash loan offers flexibility and smarter borrowing options. With FIRSTmoney online personal loan, access funds as needed and pay interest only on the amount used

Explore our options for ₹70000 personal loan, and ₹80000 personal loan.


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.