Premium Metal
0% Forex & Travel
Lifetime Free
10X Rewards
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More

Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

  • 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

Personal Loan of 1 Lakh: Eligibility, Process, and Benefits

Summary: A quick personal loan of ₹1 lakh or more, can be useful in dealing with urgent financial needs. Know how to get a personal loan of ₹1 lakh and amounts over and above it, what are the eligibility criteria and how fast can you get it. Also learn about a new, smart personal loan from IDFC FIRST Bank, that offers you a personal loan, with flexible loan terms to help you meet your exigencies.

15 May 2024 by Team FinFIRST


A personal loan is an easy way to meet urgent, short-term financial needs. Whether you have an expense for home repairs coming up or are in any other urgent financial need, an instant personal loan could fulfil your needs. Short-term personal loans do not require collateral and can be sanctioned instantly.

Now, if you are on the lookout for better loan terms, make sure to not miss out on IDFC FIRST Bank’s FIRSTmoney. FIRSTmoney is an industry-first proposition wherein you get a instant personal loan through which you can use funds for dealing with multiple expenses whenever required. Read on to learn more about FIRSTmoney and how you can apply for this smart personal loan.

An instant cash loan of ₹1 lakh from IDFC FIRST Bank offers quick financial support for emergencies or planned expenses.


 

Who can apply for a FIRSTmoney smart personal loan?
 

Listed below is IDFC FIRST Bank’s eligibility criteria for a FIRSTmoney loan:

  • Credit score: You need to have a credit score of 730 or more to be eligible for this loan.
  • Employment: You need to be a Salaried and Self-Employed individual earning a stable monthly income.
  • Age: You need to be aged between 21 to 60 years to apply for this loan.
  • Documents: You will need your physical PAN card to complete the video KYC process. 

Why opt for a FIRSTmoney loan?
 

How is opting for a FIRSTmoney loan better than going for a standard personal loan? Go through the following pointers to understand why -

  1. Easy on demand loan
    While renovating your home, you may need funds for various expenses from time to time. FIRSTmoney offers you the flexibility to opt for additional loan with just a few clicks to meet your extra fund requirements.

  2. One time setup of loan with no maintenance charges
    Once you have applied for your FIRSTmoney loan, you will get a loan amount sanctioned based on your creditworthiness. There are no maintenance charges that you have to incur on your sanctioned loan. All you need is to pay a onetime processing fee. ,

  3. Flexibility to choose a suitable EMI tenure
    With FIRSTmoney, you have the flexibility to choose from a range of repayment tenures, spanning from 2 months to 60 months. It lets you repay your outstanding amounts without any burden.

You do not have to incur any foreclosure charges
The completely digital application journey makes it convenient for you to apply for a FIRSTmoney smart loan instantly. The approval and disbursal processes are swift, and once the documents are verified, you instantly receive your sanctioned loan offer through which you can start withdrawing funds from. 


Instant approval and quick disbursement of the loan
The completely digital application journey makes it convenient for you to apply for a FIRSTmoney smart loan instantly. The approval and disbursal processes are swift, and once the documents are verified, you instantly receive your sanctioned loan amount through which you can start withdrawing funds from. 

For FIRSTmoney loans, IDFC FIRST Bank offers flexible repayment plans starting from 2 months, going all the way up to 60 months. With an affordable interest rate set at 10.99%, you can repay the loan choosing a preferred tenure as per your financial plan.

How to apply for your FIRSTmoney loan?
 

The process of applying for FIRSTmoney personal loans is quite simple and straightforward:

Step 1:
Visit the FIRSTmoney portal and scan the QR code or clicking loan from your smartphone.

Step 2: Register using your mobile number and confirm basic/personal details to check your eligibility.

Step 3: Select the loan amount of your choice and choose flexible repayment terms.

Step 4:
Link your bank account where you wish the funds to be disbursed. 

Step 5: Complete the video KYC verification process with your physical PAN card.  

After getting your loan sanctioned, you can start using the funds as per your convenience. 

Taking the best decision for your finances
 

While there are many personal loan plans out there through which you can secure your required funding of ₹1 lakh, it is also essential to focus on getting favourable loan terms. IDFC FIRST Bank’s FIRSTmoney offers a smarter alternative to standard personal loans, providing greater flexibility to meet dynamic financial needs, making it an ideal choice for a Personal Loan balance transfer as well.

 

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.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.