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₹8 Lakh Personal Loan with FIRSTmoney

Today, there are multiple loan solutions through which you can meet all your diverse expenses. Whether it's funding a dream wedding, renovating your home, covering medical emergencies, or taking that long-awaited vacation, a personal loan of ₹8 lakh can cover these expenses without you having to dip into your savings. IDFC FIRST Bank offers FIRSTmoney smart personal loans, through which you can conveniently get a high loan amount of ₹8 lakh. The hassle-free and fully digital process ensures that you get the funds you need quickly and easily, without any tedious paperwork or long waiting times.

FIRSTmoney smart personal loans are an industry-first borrowing solution committed to providing you with the seamless experience of instantly accessing funds. With a FIRSTmoney loan, you only pay EMIs on the withdrawn funds instead of the entire loan offer. With approved loan offers of up to ₹10 lakhs, you can meet your dynamic financial needs and prepay your dues without worrying about any foreclosure charges.

Benefits of a ₹8 lakh personal loan with FIRSTmoney

Get Digital Personal Loan

Need up to ₹1 crore? Apply for our Personal Loans with minimal documentation

₹8 Lakh Personal Loan Eligibility and Documentation

Eligibility criteria for a ₹8 lakh personal loan

FIRSTmoney smart personal loans are available to individuals with a good credit score. Here are the basic eligibility requirements:

  • eligibility CIBIL score: Applicants need to have a good credit record with a CIBIL score of 73O and above.
  • employment Employment: FIRSTmoney loans are available to salaried as well as self-employed individuals.
  • age Age: Anyone aged between 21 to 60 years can apply for this loan.
Documents required for a ₹8 Lakh personal loan

With FIRSTmoney smart loans, lengthy documentation is a thing of the past. Save time and effort by presenting your Aadhaar card number and physical PAN card during the video KYC process.

Eligibility

How to apply for ₹8 lakh personal loan using FIRSTmoney?

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Frequently Asked Questions

How do I apply for a FIRSTmoney loan?

Applying for a FIRSTmoney loan is simple and completely digital. Follow these steps:

1. Scan the QR code or click the loan link from your smartphone.

2. Register using your mobile number and fill in your personal details.

3. Select your loan amount and repayment terms.

4. Link your bank account for disbursement.

5. Complete the video KYC verification with your Aadhaar card number and physical PAN card.

What is the eligibility criteria for a personal loan of ₹8 lakh?

To qualify for a FIRSTmoney loan of ₹8 lakh, you must:

• Be between 21 and 60 years old.
• Have a good credit score, typically 730 and above.
• Be a salaried/self-employed individual with a stable income.

Can self-employed individuals apply for a personal loan worth ₹8 lakh?

Yes, self-employed individuals with a stable income and good credit score of above 73O can apply for an ₹8 lakh personal loan with FIRSTmoney.

How do I calculate my EMI for the personal loan?

You can use FIRSTmoney’s personal loan EMI calculator. Input the loan amount, interest rate, and tenure to get an instant value of your monthly EMI. Understanding your repayment obligations can help you plan your finances better.

Can I foreclose my loan without any penalties?

Yes, with FIRSTmoney, you can foreclose your loan at any time without incurring any foreclosure charges. This allows you to repay the loan early and save on interest costs.

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

FIRSTmoney smart personal loans involve swift disbursals. Once your application is approved and the KYC process is completed, the funds will be transferred to your linked bank account promptly.

Is there flexibility in the loan amount and withdrawal process?

Yes, FIRSTmoney offers flexibility with the approved loan amount. You can withdraw any amount starting from ₹50,000 up to your approved loan offer. You can also borrow exactly how much you need from your pre-qualified loan offer without having to worry about submitting a new loan application every time.

What are the repayment options available for a FIRSTmoney loan?

You can choose from flexible repayment options to clear your FIRSTmoney loan. You can choose a tenure ranging from 9 months to 60 months. This flexibility allows you to select an EMI plan that aligns with your financial situation, making it easier to manage your repayments.

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