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Apply for a ₹4 lakh personal loan with FIRSTmoney

You can use an instant personal loan to finance your dreams, cover unexpected expenses, or even pay for upskilling yourself. A personal loan of ₹4 lakh from FIRSTmoney can turn these aspirations into reality. Whether it's planning a dream wedding, funding higher education, renovating your home, or tackling medical emergencies, FIRSTmoney provides a seamless and efficient solution to meet your financial needs. This unique borrowing option ensures that obtaining a personal loan of ₹4 lakh is not just simple, but also quick and hassle-free.

How does FIRSTmoney Smart Personal Loan Work?

With FIRSTmoney, you can get an instant approval of personal loans that can go up to ₹10 lakhs and experience a 100% digital journey from the application to disbursal processes, making financial empowerment just a few clicks away. As opposed to a traditional personal loan, FIRSTmoney levies zero foreclosure charges, which means you can prepay your loan anytime without any charges. You can choose to pay amounts in full or opt for a convenient EMI plan that suits your financial planning. To determine exact monthly instalments, use a reliable personal loan EMI calculator.

Benefits of a ₹4 lakh personal loan via FIRSTmoney

4 lakh loan with zero foreclosure charges 4 lakh loan with zero foreclosure charges

Foreclosure benefits

Want to foreclose your loan? Not a concern with FIRSTmoney. You can use the ₹4 lakh personal loan and repay the used funds in full anytime without incurring a foreclosure charge.

Apply 4 lakh loan online Apply 4 lakh loan online

100% Digital Journey

FIRSTmoney offers a complete digital journey with zero paperwork. You can customise your loan as per your financial requirement along the application process. Simply scan the QR code and get going.

4 lakh loan repayment options 4 lakh loan repayment options

Convenient loan repayment options

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.

Easy Top-ups upto 4 lakh Easy Top-ups upto 4 lakh

Greater Flexibility

Enjoy the flexibility to avail more funds easily to meet additional cash requirements without starting the loan application from scratch.

quick 4 lakh loan approval quick 4 lakh loan approval

Instant Approval & Quick disbursal

Enjoy a completely paperless application process. The advanced technology behind FIRSTmoney makes it easy to access a ₹4 lakh personal loan instantly with a completely online process.

Eligibility Criteria for a ₹4 lakh personal loan

CIBIL score for 4 lakh loan CIBIL score for 4 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 4 lakh loan Employment criteria for 4 lakh loan

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

Age criteria for 4 lakh loan Age criteria for 4 lakh loan

Age: Anyone aged between 21 to 60 years can apply for this smart 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 ₹4 Lakh personal loan

documentation documentation

No more lengthy documentation with FIRSTmoney smart loans. You can save your time and effort to focus on other things. To apply for a ₹4 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 ₹4 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?

The reducing balance calculation method is commonly used to calculate the EMI for a ₹4 lakh personal loan, as this technique computes interest on the outstanding loan amount. Use a personal loan EMI calculator for precise EMI estimates. 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 ₹4 lakh personal loan using FIRSTmoney?

Scan the QR code to apply for a 4 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 4 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 4 lakh loan amount in your account within 24 hours

Step 5

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

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

Frequently asked questions

What is the interest rate for a ₹4 lakh FIRSTmoney loan?

The minimum interest rate for a FIRSTmoney loan is 10.99%, which can vary based on your credit score, income, and repayment capacity. Competitive rates are offered, ensuring affordability and manageable EMIs.

How long does it take to get approval for a personal loan of ₹4 lakh?

The approval process for a FIRSTmoney loan is swift and efficient. If you meet the eligibility criteria, the loan approval can be granted within a few hours. Disbursal usually follows shortly after, ensuring you get your funds quickly.

Can I foreclose my FIRSTmoney loan? Are there any charges?

Yes, you can foreclose your FIRSTmoney loan by repaying your loan before maturity with zero foreclosure charges to save more on interest payments.

Is it necessary to have a good credit score to get a personal loan of ₹4 lakh?

A good credit score of 730 and above enhances your chances of getting favourable loan solutions such as FIRSTmoney. FIRSTmoney also considers various factors such as your income, employment stability, and overall financial health.

How can I calculate my EMI for a ₹4 lakh personal loan?

You can calculate your EMI using FIRSTmoney’s online EMI calculator. By entering the loan amount, interest rate, and tenure, you can get an instant estimate of your monthly repayments, helping you plan your finances better.

What happens if I miss an EMI payment?

Missing an EMI payment can result in late fees and could impact your credit score. It is best to ensure timely repayments to avoid additional charges and maintain a good credit record.

How do I apply for a ₹4 lakh loan with FIRSTmoney?

Applying for a loan is easy and fully digital. Simply visit the FIRSTmoney website or download the app, fill in the online application form, and submit your application. After review and approval, the loan amount will be disbursed to your bank account quickly.

More FAQs

4 lakh Personal Loan Fees and Charges 4 lakh Personal Loan Fees and Charges

Fees & Charges

Enjoy pocket-friendly interest rates