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Avail quick digital loans of up to ₹10 lakhs at your fingertips, anytime, anywhere!

Get a hassle-free personal loan with zero paperwork

Calculate your loan EMI

Amounts

₹5000 ₹1cr

%

Interest Rates

10.99% 38%

Months

Period

9 months 84 months

You will pay EMI of only,

/ per month

100% digital application process and swift approvals

Attractive interest rates starting at just 10.99% per annum

Flexibility to repay anytime with Zero Foreclosure Charges

Apply for Digital Loan Online

Digital loans through IDFC FIRST Bank FIRSTmoney simplify borrowing by offering a 100% online process that removes the need for branch visits and physical paperwork. With just a few clicks, you can apply within minutes and receive funds directly into your account.

Designed for convenience, flexibility and affordability, Digital personal loans are ideal for addressing financial emergencies, fulfilling personal goals, or managing unforeseen expenses. Their 100% personal loan digital journey and quick disbursal make them an efficient solution for modern financial needs.

Read on for more

EMI Calculator for Digital Personal Loans

Digital Loan EMI Calculator is a financial tool that simplifies your borrowing decisions by estimating your monthly payments based on the loan amount, tenure, and interest rate.

For example,

  •     • Loan amount:  Rs. 1,00,000
  •     • Tenure: 24 months
  •     • Interest rate: 10.99% p.a.
  •     • EMI: Rs. 4,753 p.m.

 

EMI Calculation Formula: 

EMI= [P×r×(1+r) ^n]/[(1+r) ^n −1]

Where:

  •     • P = Loan amount (₹1,00,000)
  •     • r = Monthly interest rate = Annual interest rate ÷ 12 = 10.99% ÷ 12 = 0.00916
  •     • n = Loan tenure in months (24 months)


Calculation:

Using the formula, the EMI works out to ₹4,753 per month.

Total Repayment: ₹4,753 × 24 = ₹1,14,072
Total Interest Payable: ₹1,14,072 - ₹1,00,000 = ₹14,072

Read More

Key Benefits and Features of Digital Loans

Fast Processing

Experience a completely digital and quick application process with instant approvals, ensuring you receive funds when you need them the most.

Flexible Loan Amounts

Choose any loan amount of up to ₹10 lakhs that suits your financial requirements.

Competitive interest rates

Benefit from attractive interest rates starting at just 10.99% per annum, making repayment affordable and helping you manage your financial commitments without strain.

No Collateral Required

Enjoy unsecured loans without pledging any collateral, ensuring a hassle-free borrowing experience.

Zero Foreclosure Benefit

Leverage foreclosure benefit, allowing you to repay the loan anytime with zero foreclosure charges, saving on interest and enhancing financial freedom

Eligibility Criteria for Digital Loans

Age: 21 to 60 years

Employment: Salaried or self-employed

CIBIL Score: Minimum 730

Documents Required for Application

Identity Proof: Only PAN Card is required during the V-KYC (Video KYC) process.

Fees & Charges

Digital Loan Interest Rate, Charges, and Processing Fees

Particulars

Details

Interest Rate

Starting at 10.99% p.a.

Processing Fee

2% of the loan amount

Foreclosure Charges

No charges for foreclosure

Steps to Apply for Digital Personal Loan

Step 1

Scan the QR code available above to apply for a digital personal loan

Step 2

Register with your mobile number and confirm basic details to check your loan eligibility

Step 3

Choose your loan preferences, including the tenure and repayment terms

Step 4

Link your bank account for the disbursement of funds

Step 5

Complete the video KYC process by displaying your original PAN card

IDFC FIRST Bank FIRSTmoney is an instant cash loan, providing digital loan offers of up to ₹10 lakhs, accessible through a paperless and 24 X 7 digital journey. Borrow and repay as needed with no reapplication required.

 

Things to Consider Before Applying for a Digital Loan

Interest Rate

Compare to find competitive rates.

Loan Amount

Borrow only as much as needed.

Loan Tenure

Choose a tenure with manageable EMIs.

Tailored Personal Loan Options

Wedding Loans

Make your wedding dreams a reality with our smart personal loan for weddings designed exclusively for those who deserve it the most. Rather than depleting your savings or resorting to high-interest credit cards, a FIRSTmoney smart personal loan allows you to maintain financial stability as you start a new chapter of your life. Here's how our loan can add value to your special day:

  • ► From venue rentals to catering costs and everything in between, FIRSTmoney offers up to a ₹10 lakh personal loan, allowing you to cover all aspects of your wedding expenses with ease
  • ► Completely paperless, quick and digital personal loan application process
  • ► Attractive fixed interest rate (on a monthly reducing basis) commencing at 10.99% p.a. only
  • ► No need for collateral or security
  • ► Enjoy flexible loan repayment terms extending up to 60 months

Travel Loans

Embark on your dream adventures with an online personal loan designed exclusively for elite travellers like you. Whether you're planning a luxurious getaway, an exotic expedition, or a cultural exploration, a FIRSTmoney loan offers the financial freedom to turn your travel aspirations into reality.

With competitive rates and flexible terms, a FIRSTmoney smart personal loan empowers you to book premium accommodations, indulge in once-in-a-lifetime experiences, and create unforgettable memories without compromise. Apply for a travel personal loan seamlessly on an end-to-end digital journey and make Instant bookings without dipping into your savings.

Advantages of a FIRSTmoney smart personal loan for travel expenses:

  • ► Get instant access to funds, anytime, anywhere, in your bank account; 24x7, in just a single step.
  • ► Attractive fixed interest rate (on a monthly reducing basis), starting at 10.99 % p.a. 
  • ► No need for collateral or security deposit to set up a loan.
  • ► By responsibly managing your personal loan, you can enhance your credit profile, opening doors to even greater opportunities for future travel endeavours.    

Education Loans

In times of financial emergencies, FIRSTmoney smart personal loan stands as a beacon of stability and support. Instead of depleting your savings or tapping into your investment accounts, this smart personal loan enables you to preserve your financial reserves for long-term goals. Here's how our emergency loan can be a lifeline during uncertain exigencies:

  • ► Effortless online application process with complete digital verification - apply in 2 easy steps for an emergency personal loan online
  • ► Get the loan amount credited promptly to your bank account on the same day
  • ► No collateral requirement for emergency personal loans
  • ► Flexible loan repayment tenure of up to 60 months
  • ► Attractive fixed interest rate (on a monthly reducing basis) starting from 10.99% p.a. only
  • ► Safeguard your financial stability with this personal loan in the face of emergencies

Home Renovation Loans

Renovating your home or any structural upgrades can put a significant financial strain on your savings and personal loan proves to be a reliable solution. Manage and plan your home improvement expenses depending on your needs with FIRSTmoney, our smart, instant personal loan. Apply for a personal loan online and get approved seamlessly.

  • ► Can act as a top-up to your home loan
  • ► Can serve to pay for renovation and expenses in parts
  • ► Access funds anytime anywhere
  • ► No need for collateral or security to apply for this personal loan
  • ► Attractive fixed interest rate (on a monthly reducing basis) starting at just 10.99% p.a.

Frequently Asked Questions

What are digital loans?

Digital loans are online personal loans that eliminate the need for paperwork or branch visits. They offer a seamless application process, making it easy to access funds from the comfort of your home

What are the benefits of taking a digital loan?

Digital loans come with several advantages, including quick processing, flexible loan amounts tailored to your needs, and competitive interest rates that make repayments affordable.

What is the eligibility for a digital loan?

To apply for a digital loan, you must be a salaried or self-employed individual aged 21 to 60 years with a minimum CIBIL score of 730.

What documents are required to apply for a digital loan?

You need to furnish your original PAN Card during the V-KYC (Video KYC) to complete the application process.

How long does it take to get a digital loan approved?

Digital loans from FIRSTmoney are designed for speed, with approvals typically completed within minutes to a few hours, ensuring timely financial assistance.