How do I check my loan application status?

You can check your loan application status by logging into your FIRSTmoney account on the website or mobile app. Real-time updates are provided at every stage of the application process.

Who can apply for a FIRSTmoney loan of ₹3 lakh?

Salaried and self-employed individuals with a stable income and a credit score above 750 are eligible to apply for a ₹3 lakh FIRSTmoney loan.

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₹3 Lakh Personal Loan

Q: How long does it take for the loan amount to be disbursed?

With FIRSTmoney’s 100% digital process, loan approval and disbursal are swift. Once your application is approved and documents are verified, the loan amount is disbursed instantly.

Q: Can I foreclose my loan before the tenure ends?

Yes, FIRSTmoney offers zero foreclosure charges. You can foreclose your loan anytime, saving on interest costs.

Q: What is the maximum tenure for repaying a ₹3 lakh personal loan?

The repayment tenure for a ₹3 lakh personal loan with FIRSTmoney ranges from 2 months to 60 months. You can select a tenure based on your financial capacity.

Q: Is a guarantor required to apply for a ₹3 lakh personal loan?

No, a guarantor is not required for a ₹3 lakh personal loan with FIRSTmoney. The loan is granted based on your creditworthiness, income, and employment stability.

Avail instant loan approval with flexible repayment and multiple on-demand loans.

100% digital process
Interest rates start @9.99% p.a
30-minute disbursal
Zero foreclosure charges
No collateral required

Apply Now

Personal Loan EMI Calculator

Loan amount

₹100K ₹10L

Loan term in months

9 Months 60 Months

Choose the Interest Rate

9.99% 38 %

Your EMI will be

₹2,174/Lakh

*Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply

Overview
Benefits
Eligibility
How to apply
Fees & Charges
FAQs
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Apply Now

Apply for a ₹3 Lakh Personal Loan

Finding a suitable loan option can be a lifesaver when you urgently need funds. But with traditional lending methods marred by extensive paperwork and lengthy approval times, securing a high ₹3 lakh personal loan can seem daunting. This where FIRSTmoney steps in to revolutionise your borrowing experience. With FIRSTmoney, you can apply for a personal loan of ₹3 lakh instantly and effortlessly. The 100% digital process ensures a seamless journey from right from submitting your application to the loan disbursal, allowing you to meet your financial needs without any hassles.

How does a FIRSTmoney Smart Personal Loan Work?

The FIRSTmoney smart personal loan is a one-of-a-kind loan solution that offers the flexibility to access a loans of up to ₹10 lakhs instantly with a completely digital process and a competitive interest rate. What makes it unique is the zero-foreclosure charge that allows you to prepay your borrowed sum anytime without additional costs. As an individual with a good credit profile, you can conveniently apply for a ₹3 lakh personal loan online and meet your needs without any financial stress.

Benefits of a ₹3 lakh Personal Loan with FIRSTmoney

100% Digital Journey

Apply anytime, anywhere! No physical paperwork, no queues! With FIRSTmoney, your personal loan process is entirely digital. Click on “Apply Now”, complete the process online, and customise the loan as per your requirement. It’s fast, simple, and tailored for today’s lifestyle.

Zero Foreclosure Penalty

Pay early, save more. FIRSTmoney lets you foreclose your personal loan without any extra charges. So, whenever you have extra funds before the term ends, close your loan at zero cost.

Loan Amount Flexibility

Choose an amount what suits your needs and monthly budget. FIRSTmoney gives you the freedom to repay your personal loan over any duration between 9 to 60 months. You stay in control of how fast or slow you want to repay your loan.

Low Interest Rates

Keep your personal loan affordable from day one. FIRSTmoney offers highly competitive interest rates starting at 9.99% p.a., helping you manage repayments easily and save more over time.

Instant Approval & Quick Disbursal

FIRSTmoney’s 100% digital process ensures instant approvals and quick disbursals (within 30 minutes), so you don’t have to wait for days to get funds. It’s money at your fingertips right when you need it.

Multiple On-Demand Loans

Your needs can change, and your personal loan should keep up. With FIRSTmoney, you can access additional funds whenever required with without restarting your application.

₹3 lakh personal loan Eligibility and Documentation

Eligibility

CIBIL score: To obtain the FIRSTmoney smart personal loan, applicants need to have a good credit record and a CIBIL score of 730 and above.
Employment: FIRSTmoney smart personal loan are available to salaried and self-employed individuals
Age: Anyone aged between 21 to 60 years can apply for this personal loan

Documents

No more lengthy documentation with FIRSTmoney smart loans. You can save your time and effort to focus on other things. To apply for a ₹3 lakh personal loan from FIRSTmoney, all you need is to display your physical PAN card at the time of video KYC.

What is the EMI for a ₹3 Lakh personal loan

The EMI for a ₹3 lakh personal loan at IDFC FIRST Bank is calculated using the reducing balance method. In this method, the interest is calculated only the outstanding balance, rather than the original loan amount. This ensures you pay less interest over time.

To calculate the EMI for a ₹3 lakh personal loan, the reducing balance calculation method is commonly employed. This technique determines interest based on the remaining loan balance. While the EMI remains constant throughout repayment, the portion allotted to principal repayment grows while the interest component diminishes over time.

How to apply for ₹3 lakh personal loan using FIRSTmoney

Step 1

Start by scanning the QR code or clicking loan from your smartphone.

Step 2

Step 3

Choose your loan preferences, including the tenure and 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.

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Interest rates for a ₹3 Lakh personal loan start @9.99% p.a.

Visit the Fees and Charges section to know more.

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Frequently asked questions

What is the interest rate for a ₹3 lakh personal loan with FIRSTmoney?

The interest rate for a ₹3 lakh personal loan with FIRSTmoney varies based on your credit score, income, and overall financial profile. Generally, the interest rates range from 10% to 20% per annum. FIRSTmoney loans include a minimum interest rate of 9.99% per annum. The exact rate will be provided after evaluating your loan application.

How long does it take for the loan amount to be disbursed?

With FIRSTmoney’s 100% digital process, the loan approval and disbursal are swift. Typically, once your application is approved and the necessary documents are verified, the loan amount is disbursed to your bank account instantly.

Can I foreclose my loan before the tenure ends?

Yes, FIRSTmoney offers the benefit of zero foreclosure charges. You can choose to pay off your loan in full before the tenure ends, allowing you to save on interest costs.

What is the maximum tenure for repaying a ₹3 lakh personal loan?

The repayment tenure for a personal loan of ₹3 lakh with FIRSTmoney ranges from 9 months to 60 months. You can choose a tenure that best suits your financial situation and repayment capacity.

Is a guarantor required to apply for a ₹3 lakh personal loan?

No, a guarantor is not required for a personal loan of ₹3 lakh with FIRSTmoney. The loan is provided based on your creditworthiness, income, and employment stability. The process is simple and hassle-free without the need for a guarantor or collateral.

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Know more

₹3 Lakh Personal Loan

Personal Loan EMI Calculator

₹2,174/Lakh

Overview

Benefits

Eligibility

How to apply

Fees & Charges

FAQs

Blogs

Apply for a ₹3 Lakh Personal Loan

How does a FIRSTmoney Smart Personal Loan Work?

Benefits of a ₹3 lakh Personal Loan with FIRSTmoney

100% Digital Journey

Zero Foreclosure Penalty

Loan Amount Flexibility

Low Interest Rates

Instant Approval & Quick Disbursal

Multiple On-Demand Loans

₹3 lakh personal loan Eligibility and Documentation

What is the EMI for a ₹3 Lakh personal loan

How to apply for ₹3 lakh personal loan using FIRSTmoney

Step 1

Step 2

Step 3

Step 4

Step 5

Our App Ratings

Interest rates for a ₹3 Lakh personal loan start @9.99% p.a.

Frequently asked questions

What is the interest rate for a ₹3 lakh personal loan with FIRSTmoney?

How long does it take for the loan amount to be disbursed?

Can I foreclose my loan before the tenure ends?

What is the maximum tenure for repaying a ₹3 lakh personal loan?

Is a guarantor required to apply for a ₹3 lakh personal loan?

How do I check my loan application status?

Who can apply for a FIRSTmoney loan of ₹3 lakh?

What is the interest for a 3 lakh personal loan?

Choose your personal loan amount with FIRSTmoney

Key Strategies and Insights for Personal Loans

Digital Lending 101: How Instant Personal Loans Work in India 2025

How to Fund Your Next Solo Leh-Ladakh Trip Without Touching Your Savings

India’s CIBIL Score Decoded: Why 730+ Is the New Gold Standard (and How to Get There)

Top 10 CIBIL Score Myths That Could Be Hurting Your Loan Eligibility

Hidden Costs of Traditional Personal Loans – Here’s What You Should Not Overlook

Early Personal Loan Repayment: Pros, Cons, and Hidden Costs Explained

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