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Apply for a ₹3 lakh personal loan instantly using FIRSTmoney

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 using FIRSTmoney

Apply 3 lakh loan online Apply 3 lakh loan online

100% Digital Journey

With FIRSTmoney, experience a completely digital, paperless journey with. You customise your loan as per your financial requirement along the application process. Simply scan the QR code and get going.

3 lakh loan with zero foreclosure charges 3 lakh loan with zero foreclosure charges

Foreclosure benefits

Enjoy zero foreclosure charges with FIRSTmoney. You can use the ₹3 lakh personal loan and repay the used funds in full anytime without incurring any foreclosure charge.

3 lakh loan amount flexibility 3 lakh loan amount flexibility

Personal loan amount flexibility

Get the flexibility to choose a customisable loan EMI plan that suits your requirements. Opt for any tenure ranging between two months to 60 months to repay your loan without financial stress.

Competitive Interest Rates Competitive Interest Rates

Competitive Interest Rates

With FIRSTmoney, you enjoy one of the most affordable interest rates starting at just 10.99% per annum. Lower interest rates help you keep your overall loan cost within your budget and meet your financial needs without any hassles.

quick 3 lakh loan approval quick 3 lakh loan approval

Instant Approval & Quick Disbursals

Enjoy a completely paperless application process. The advanced technology behind FIRSTmoney makes it easy to access a ₹3 lakh personal loan instantly with a completely online process.

Greater flexibility Greater flexibility

Greater Flexibility

Enjoy the convenience of obtaining extra funds anytime to meet your additional financial needs in just a few clicks.

Eligibility Criteria for a ₹3 lakh personal loan

CIBIL score for 3 lakh loan CIBIL score for 3 lakh loan

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 criteria for 3 lakh loan Employment criteria for 3 lakh loan

Employment: FIRSTmoney smart personal loan are available to salaried and self-employed individuals

Age criteria for 3 lakh loan Age criteria for 3 lakh loan

Age: Anyone aged between 21 to 60 years can apply for this personal loan

* 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.

Documents required for a ₹3 Lakh personal loan

documentation for 3 lakh loan documentation for 3 lakh loan

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.

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.

How can you calculate your personal loan EMI?

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?

Scan the QR code to apply for a 3 lakh personal loan.

Step 1

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

Register with your mobile number.

Step 2

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

Confirm basic details to check your 3 lakh loan eligibility.

Step 3

Choose your loan preferences, including the tenure and repayment terms.

Choose your loan preferences and link your bank account

Step 4

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

Once verified, receive the 3 lakh loan amount in your account within 24 hours

Step 5

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

Once your loan is approved, you can start using the funds as per your needs
 

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 10.99% 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 2 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.

How do I check my loan application status?

You can check the status of your loan application by logging into your FIRSTmoney account on the website or mobile app. The platform provides real-time updates on your application status, right from submission to the loan approval and disbursal process.

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

Salaried and self-employed individuals with a stable income and healthy credit score of above 750 can apply for a FIRSTmoney loan of ₹3 lakh.

More FAQs

3 lakh Personal Loan Fees and Charges 3 lakh Personal Loan Fees and Charges

Fees & Charges

Enjoy pocket-friendly interest rates