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Apply For Personal Loan for ₹4 Lakhs instantly

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.

This unique borrowing option ensures that obtaining a personal loan of ₹4 lakh is not just simple, but also quick and hassle-free.

Apply now

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

Attractive Interest Rates

Attractive Interest Rates

With FIRSTmoney, you enjoy one of the most affordable interest rates on personal loans starting at just 9.99% per annum. Lower interest rates help you keep your overall loan cost within your budget and meet your financial needs without hassles.

Zero Foreclosure Charges

Zero Foreclosure Charges

Want to close your personal loan early? Go ahead without worrying about extra charges. FIRSTmoney offers zero foreclosure fees, giving you complete freedom to close your loan whenever you're ready, without penalties.

100% Digital Process

100% Digital Process

No queues, no paperwork! A smooth digital experience right at your fingertips. FIRSTmoney allows you to apply, customise, and manage your loan completely online. The process is fast, secure, and designed for convenience. Start your application by simply clicking on “Apply Now”

Convenient repayment options

Convenient repayment options

Every borrower’s journey is different. That’s why FIRSTmoney offers flexible tenures ranging from 9 to 60 months. Whether you prefer short-term or long-term EMIs, you can repay your loan at a pace that suits you.

Multiple On-Demand Loans

Multiple On-Demand Loans

Financial needs can grow, and FIRSTmoney has got you covered. Whether it’s an additional fund requirement for urgent expense or medical bills, you can access extra funds quickly with the same application, in just a few clicks.

Instant Approval & Quick disbursal

Instant Approval & Quick disbursal

Need funds without delay? FIRSTmoney offers instant approvals and fast disbursals, all through a fully online process. Get access to your loan in just a few steps. No waiting, no complications!

Eligibility Criteria for a ₹4 lakh personal loan

Eligibility
  • 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.
  • eligibility Employment: FIRSTmoney smart personal loan are available to salaried and self-employed individuals
  • eligibility Age: Anyone aged between 21 to 60 years can apply for this smart personal loan.
Documents
  • 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.
Eligibility

What is the EMI for a ₹ 4 lakh personal loan

The EMI for a ₹4 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.

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?

Step 1

Start by scanning 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

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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Know your personal loan fees and charges

Interest rates for a ₹4 Lakh personal loan start @9.99% p.a.

Visit the Fees and Charges section to know more.

Know More

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.

What is the interest for a 4 lakh Personal Loan?

The personal loan interest rate for a ₹4 lakh loan at IDFC FIRST Bank starts at 10.99% per annum. The exact rate depends on factors such as your credit score, income, and selected loan tenure.

What is EMI of a ₹4 Lakh Loan?

To calculate the EMI for a ₹4 Lakh Loan, you can use a personal loan EMI calculator.

What is the processing fee on a ₹4 lakh personal loan?

The personal loan processing fees for a ₹4 lakh loan at IDFC FIRST Bank generally start from 2%, depending on the loan terms.

What is the monthly EMI for a ₹4 lakh personal loan?

The monthly EMI for a ₹4 lakh personal loan at IDFC FIRST Bank starts at approximately ₹8,696 when taken at an interest rate of 10.99% for a tenure of 5 years. You can use our EMI calculator to customize your repayment plan based on different interest rates and tenures.

Can I get a ₹4 lakh loan without collateral?

Yes, IDFC FIRST Bank offers personal loans up to ₹10 lakh as unsecured loans, meaning you do not need to provide any collateral to secure the loan.

What are the eligibility criteria for a ₹4 lakh personal loan?

To qualify for a ₹4 lakh personal loan, applicants must meet the following criteria:

  • • Be an Indian citizen.
  • • Age between 21 to 60 years.
  • • Have a minimum monthly income of ₹15,000.
  • • Possess relevant work experience.

What documents are required to apply for a ₹4 lakh personal loan?

Trequired documents typically include:

  • • Identity proof (such as PAN card at the time of Video KYC
More FAQs

Choose your personal loan amount with FIRSTmoney

₹10 lakh Personal Loan
₹10 lakh Personal Loan ₹10 lakh Personal Loan
₹9 lakh Personal Loan
₹9 lakh Personal Loan ₹9 lakh Personal Loan
₹8 lakh Personal Loan
₹8 lakh Personal Loan ₹8 lakh Personal Loan
₹7 lakh Personal Loan
₹7 lakh Personal Loan ₹7 lakh Personal Loan
₹6 lakh Personal Loan
₹6 lakh Personal Loan ₹6 lakh Personal Loan
₹5 lakh Personal Loan
₹5 lakh Personal Loan ₹5 lakh Personal Loan
₹3 lakh Personal Loan
₹3 lakh Personal Loan ₹3 lakh Personal Loan
₹2 lakh Personal Loan
₹2 lakh Personal Loan ₹2 lakh Personal Loan
₹80000 Personal Loan
₹80000 Personal Loan ₹80000 Personal Loan
₹70000 Personal Loan
₹70000 Personal Loan ₹70000 Personal Loan
₹60000 Personal Loan
₹60000 Personal Loan ₹60000 Personal Loan
₹50000 Personal Loan
₹50000 Personal Loan ₹50000 Personal Loan

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