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Instant Personal Loans with IDFC FIRST Bank: Personal Loan app

Experience seamless digital lending with FIRSTmoney by IDFC FIRST Bank. Our instant loan app delivers cash loans from ₹50,000 to ₹10 lakh directly to your account within 30 minutes. The application process is 100% digital, accessible via the IDFC FIRST Bank: Personal Loan app.

What is FIRSTmoney? How Does it Work?

FIRSTmoney smart personal loans cater to a variety of needs, including urgent medical expenses, home renovations, trip planning, wedding expenses, and more. Read on for more

Features and Benefits of IDFC FIRST Bank Mobile Banking App

IDFC FIRST Bank brings a user-friendly experience through its FIRSTmoney smart personal loan app which simplifies the application and approval process. Here are the notable features and benefits:

Simple & User-Friendly Interface Simple & User-Friendly Interface

Simple & User-Friendly Interface

The IDFC FIRST Bank: FIRSTmoney Personal Loan App is designed for ease and speed. With an intuitive interface and smooth navigation, applying for a personal loan becomes effortless.

No Physical Documentation Required No Physical Documentation Required

No Physical Documentation Required

The loan application process is 100% digital. You only need your PAN card for the secure Video KYC (V-KYC), saving you valuable time and effort.

Zero Foreclosure Charges Zero Foreclosure Charges

Zero Foreclosure Charges

Planning to repay early? You can prepay your loan without incurring any foreclosure fees—helping you save on interest and manage your finances smarter.

Instant Personal Loans up to ₹10 Lakh Instant Personal Loans up to ₹10 Lakh

Instant Personal Loans up to ₹10 Lakh

Borrow up to ₹10 lakh instantly to cover any expense—be it a medical emergency, travel, education, or a big-ticket purchase. Approvals are quick, and the funds reach you fast.

Flexible Top-Up Options Flexible Top-Up Options

Flexible Top-Up Options

Need more funds after your initial loan? You can apply for additional funds easily through the app, without the need for a fresh application—ideal for evolving financial needs.

Quick Disbursal Quick Disbursal

Quick Disbursal

Get quick approval in just 30 minutes with our instant personal loan app. Fast, seamless, and hassle-free — designed to meet your needs, instantly.

Easy Repayment Options Easy Repayment Options

Easy Repayment Options

Choose a repayment tenure that suits your budget—ranging from 9 months going all the way up to 60 months.

Transparency Transparency

Transparency

No hidden charges, no surprises. All fees, interest rates, and charges are clearly stated upfront. You can check all the fees and charges applicable on your personal loan by visiting IDFC FIRST Bank’s schedule of charges section.

Getting Started with FIRSTmoney

FIRSTmoney from IDFC FIRST Bank is your hassle-free solution for instant personal loans. Access it anytime, anywhere through the IDFC FIRST Bank: Personal Loan App and unlock funds right when you need them—without paperwork or long wait times. To apply for a FIRSTmoney personal loan, follow these simple steps -

Step 1

Step 1 : Launch the App

Once you've downloaded our instant personal loan app, simply tap to open it and begin your journey toward hassle-free borrowing.

Step 2

Step 2: Register with Your Mobile Number

Enter your active mobile number to begin the application process.

Step 3

Step 3: Verify Personal Details

Confirm your basic details—such as name, DOB, and PAN, Aadhar number, and OTP—to instantly check your loan eligibility.

Step 4

Step 4: Choose Loan Preferences

Select your preferred loan amount, tenure, and EMI plan based on your financial needs.

Step 5

Step 5: Link Your Bank Account

Provide your bank account details to receive the disbursed amount once your loan is approved.

Step 6

Step 6: Complete Video KYC

Finish the process with a secure Video KYC using your physical PAN card—no branch visits required.

Whether you're applying for a fresh personal loan or managing an existing one, FIRSTmoney puts complete control in your hands. Download the app and take your first step toward instant, digital financial freedom with IDFC FIRST Bank.

 

Downloading IDFC FIRST Bank Mobile Banking app to apply for FIRSTmoney
 

  1. Search for the IDFC FIRST Bank mobile app on the App Store or Play Store.
  2. Click the ‘Install’ button and let your phone handle the installation.
  3. Register with your mobile number on the loan app and complete the required details.
  4. Set up your login credentials and MPIN to access the app.
  5. Explore various loan products available within the mobile banking app.

Eligibility

Salaried individuals Salaried individuals

Salaried and self-employed individuals can apply via the IDFC FIRST Bank website or mobile banking app.

Age limit – 21 to 60 years Age limit – 21 to 60 years

Age limit – 21 to 60 years

CIBIL Score*: 730+ CIBIL Score*: 730+

CIBIL Score*: 730+

* CIBIL Score is a 3-digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections on your CIBIL Report and ranges from 300 to 900. The closer your score is to 900, the higher are the chances of your loan application getting approved.

Documentation

Video KYC Video KYC

Display your physical PAN card during the VKYC process.

Display your physical PAN card during the VKYC process.

Interest Rates and Charges for a Personal Loan through the IDFC FIRST Bank App
 

Interest rates, fees, and charges can significantly increase the overall loan cost, so it is important to note the charges before submitting your loan application. IDFC FIRST Bank offers low charges and interest rates for your affordability and convenience, including personal loan processing fees.

Here is the list of charges for a FIRSTmoney loan:

Type of Charges

Fees

Processing fee

2% of the total loan amount including GST

Rate of Interest

ROI Starting from 10.99%

Stamping charges

As per State’s Stamp Act

Penalty on overdue EMIs

2% of the unpaid EMI

EMI Bounce Charges

EMI Bounce Charges 7.5% of the EMI/ Outstanding amount (minimum ₹ 400 & maximum ₹ 1000)

Payment swap charges (Charges for changing the mode of EMI payment)

₹500 + taxes per instance

Foreclosure Charges

NIL (Customers will have to provide the sanction letter at the time of foreclosing the loan)

Part Pre-Payment

Not allow

EMI Pickup/Collection Charges

₹ 500.00

Duplicate No Objection Certificate Issuance Charges

₹ 500.00

Physical Statement of Account/Repayment Schedule

₹ 500.00

Foreclosure / Prepayment charges

NIL

Document retrieval charges (per retrieval)

₹ 500.00

Cooling-Off Period (Borrower can exit the loan within the cooling-off period by paying the principal and the proportionate charges without any penalty. The loan can be cancelled within 3 days in the cooling off period)

3 days


*GST, as applicable, will be levied on all service charges.

Explore what major charges mean when applying for a personal loan through IDFC FIRST Bank’s mobile app or website.

Processing Fee: It is a one-time charge that you need pay during the loan application.

Interest Charge: It is the amount that you need to pay in addition to the principal loan amount to the bank when repaying your loan.

EMI Bounce Charge: It is a charge levied by the bank when there is insufficient balance in the account to pay the EMI.

Foreclosure Charge: In case you wish to close your loan before the end of the tenure, some banks may ask for foreclosure charges. With IDFC FIRST Bank, you don’t need to worry about any extra charges for closing your personal loan.

Overdue EMI Charge: If the EMI remains unpaid on or before the due date, a penalty is applied on the unpaid EMI known as the overdue EMI charge.

 

How does personal loan work on the mobile banking app?
 

IDFC FIRST Bank's mobile banking app offers a seamless, 100% digital experience to access instant loans. Simply download the IDFC FIRST Bank app and register or log in with your account credentials.

Subsequently, scan the QR code with your mobile phone and fill in all the details. Once you have completed the V-KYC using your PAN, the bank verifies and approves your loan offer depending on your credit health and income.

With flexible repayment options and zero foreclosure charges, managing your loan is easy through the IDFC FIRST Bank banking app. FIRSTmoney ensures a hassle-free, fast cash solution for your financial needs at the touch of a button.

Instant Personal Loan Fees and Charges Instant Personal Loan Fees and Charges

Personal Loan for Home Renovation - Fees and Charges

Enjoy competitive interest rates and minimal charges

Frequently asked questions

How can I get a personal loan at a low interest rate?

Getting a personal loan at a low interest rate involves several factors. To begin with, ensure you maintain a good credit score as it significantly impacts the interest rate offered to you. Additionally, consider opting for a bank like IDFC FIRST Bank that offers flexible repayment options and competitive rates. Utilising the IDFC FIRST Bank loan app can be beneficial, as it provides competitive interest rates tailored to your credit profile, along with transparent terms and conditions.

What is the best personal loan app?

Apps like the IDFC FIRST Bank Mobile Banking app with FIRSTmoney Smart and Instant Personal Loans are highly recommended due to their user-friendly interface, quick approval process, and competitive interest rates. The IDFC FIRST Bank loan app offers features like instant loan approvals, EMI calculators, and personalised loan offers, making the borrowing experience convenient and hassle-free.

Can I foreclose my FIRSTmoney loan via the app?

Yes, IDFC FIRST Bank's app allows pre-closure of your FIRSTmoney smart personal loan without any foreclosure charges. Whether it’s a small loan or a big one, you can repay the loan early at your convenience, providing you with complete flexibility.

Who is eligible for an instant loan?

To be eligible for a FIRSTmoney loan, you must be an Indian citizen between 21-60 years of age with a stable income and good credit history. Both salaried and self-employed individuals can apply.

What documents do I need to apply for an instant loan?

You only need to show your PAN card during the V-KYC (Video KYC) process when applying for a loan through IDFC FIRST Bank’s loan app.

How quickly will the loan amount be credited to my account?

Once your loan is approved, the amount is credited to your account instantly, typically within minutes.

Are there any hidden charges for instant loans?

No, there are no hidden charges. FIRSTmoney maintains complete transparency with its charges, including a minimal processing fee and no foreclosure charges.

How to use an instant personal loan app?

Using an instant personal loan app is simple and convenient. Start by downloading the app from the App Store or Play Store and registering with your details. Next, set up your login credentials and MPIN. Once done, you can explore the loan options, customise loan amounts and tenure, and submit your application. With the IDFC FIRST Bank loan app, you can track your application status in real-time and receive instant approvals, making the entire process seamless and efficient.

How do I get an instant loan from the app?

To get an instant loan from the app, follow these steps:

  • ● Download the IDFC FIRST Bank Mobile Banking app and complete the registration process for FIRSTmoney Smart and Instant Personal Loans.
  • ● Choose the loan amount and tenure as per your requirements.
  • ● Submit your application through the app.
  • ● Receive instant approval and disbursal of funds directly into your bank account.

Is an instant loan app safe?

Yes, instant loan apps like the IDFC FIRST Bank Mobile Banking app are safe to use. Such apps by reputable banks follow stringent security measures to protect your personal and financial information. Additionally, they comply with regulatory guidelines to ensure transparency and fairness in loan transactions.

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