Apply for an Instant Personal Loan Online

You can check the status of your FIRSTmoney personal loan application on the application link or track the progress of your existing loan through IDFC FIRST Bank’s Mobile App. Alternatively, you can contact the customer service by dialling 1800-10-888 for assistance in checking your personal loan status.     

FIRSTmoney is a Smart Personal Loan, a first-of-its-kind product through which applicants can get up to ₹10 lakhs without any collateral or co-signee. The process is entirely digital, ‘Do-It-Yourself’ without the need for physical documentation.

You can foreclose your loan via the IDFC FIRST Bank mobile app with the following steps:  Register using mobile number & DOB. Under the ‘Loans’ section on the FIRSTmoney dashboard, select ‘Active draw’ Click on ‘Foreclose with 0 Charges’ to proceed for closing your loan. Alternatively, you can contact our customer service by dialling 1800-10-888        

FIRSTmoney is an smart way to acquire an instant personal loan with zero documentation. You also get to choose your EMI plan as per your convenience and pre-pay or foreclose the loan without any fees or penalties. Here’s how FIRSTmoney is more beneficial than traditional personal loans:

Yes. Monthly reducing rate of interest is a way of computing the interest charged on the reducing rate principle. As the outstanding principal amount reduces, the interest payable on your loan also reduces. 

The sanctioned limit is determined based on the bank’s internal policies and creditworthiness of the customer. The minimum limit is ₹50,000 and maximum limit offered is ₹10 lakhs.             

IDFC FIRST Bank provides a complete digital experience of availing online personal loan for salaried and self employed individuals. Your eligibility depends on your credit score, income, and your existing liabilities, which will be used to ascertain your credit worthiness. The CIBIL score of the applicant should be 730 or more.          

The sanctioned limit is available to the customer for a period of 5 years, subject to the Bank’s internal policy and creditworthiness of the customer. The customer can withdraw, repay, foreclose the loan without any additional charges within this period. The sanctioned limit may get extended or reduced depending on the customer’s repayment behaviour and credit score.            

Here are the Do’s and Don’ts for applying for the smart personal loan:

Do's: 

    • Check if your credit score is at least 730

    • Check your eligibility and requisite documentation i.e. Physical PAN for Video KYC

    • Ensure stable internet connection before starting the application process & for completion of Video KYC

    • Check if additional charges like processing fees, prepayment charges etc are applicable. FIRSTmoney instant loan charges zero prepayment fees 

Don’ts: 

    • Forget to check your credit score

    • Proceed with the application without calculating your eligibility or charges 

The information provided is safe and stored as per RBI guidelines. IDFC FIRST Bank does not provide any sensitive data to any third-party organizations.      

One can download the IDFC FIRST Bank’s mobile App and login using their mobile number and date of birth. To download loan documents, customers can navigate to the FIRSTmoney dashboard by clicking on the FIRSTmoney card in the 'Loans' section. Under Active loans, click on 'View details' and navigate to 'Loan documents' to download loan-related documents. Additionally, customers can access this section to view all loan-related details like due date and payment history.                  

Click Here to view the general fees & charges levied on a Personal Loan.

Enjoy our truly paperless and intuitive digital loan application process. You only need a physical PAN card for completing your Video KYC Verification process – nothing else!    

You can obtain the No-Dues certificate from the IDFC FIRST Bank mobile app with the following steps: 

• Register using mobile number & DOB, if not registered for Mobile Banking Services

• Under the ‘Loans’ section on the FIRSTmoney dashboard, select ‘Fully paid draw’

• Click on ‘View Details’, then on Loan Documents to download NOC

• Alternatively, you can contact our customer service by dialling 1800-10-888 

You can make overdue payments via the IDFC FIRST Bank mobile app with the following steps: 

• Register using mobile number & DOB, if not registered for Mobile Banking Services

• Under the Loans section on the FIRSTmoney dashboard, click on ‘Clear Overdue’ to proceed to clear overdue payments

• Alternatively, you can contact our customer service by dialling 1800-10-888         

As per the bank’s policy, your active loan offer will only be revised after the full repayment of the running loan amounts.  Once you pay off the EMIs of the borrowed amount, the approved amount will be replenished to the initial principal loan amount.

For instance, if you get an approved loan amount of ₹5 lakhs and withdraw ₹1 lakh, you will have access to funds of ₹4 lakhs. However, until the 1 lakh amount and the associated interest is paid off fully, your approved limit won’t be replenished to ₹5 lakhs.

To qualify for a personal loan with FIRSTmoney, you must be an Indian resident between 21 and 60 years of age. You should have a regular source of income—either salaried or self-employed—and a CIBIL score of 730 or above. If you meet these basic criteria, you can apply for a personal loan through the FIRSTmoney instant loan app or the official portal for a seamless experience.

With FIRSTmoney, you have the flexibility to foreclose your loan amount anytime during your repayment tenure. The best part—there are no additional charges for personal loan foreclosure. This allows you to save on interest and close your loan conveniently.

While you can apply for a personal loan with a low credit score, approval is subject to internal assessment. A low score may affect the loan amount or interest rate. Ideally, maintaining a CIBIL score of 730+ improves your chances for personal loan instant approval through FIRSTmoney.

FIRSTmoney does not levy any extra charges for personal loan pre-closure. You can repay your loan amount in full before the tenure ends without incurring any penalties—making it an affordable and transparent option for borrowers.

You can apply for a personal loan with a CIBIL score above 700 with several lenders. However, the ideal CIBIL score to apply for a personal loan via FIRSTmoney should be 730 or higher. A higher score ensures quicker approvals and better interest rates. You can apply for a loan digitally via the instant personal loan app just by scanning the QR code.

No, in most cases, you do not get tax benefits on a personal loan, unless the amount is used for specific purposes like home renovation or education. For general usage like travel, medical emergencies, or bill payments, no tax deductions are applicable.

Yes, as per state regulations, stamp duty may be applicable when you apply for a personal loan. However, these charges are nominal and disclosed during FIRSTmoney’s online loan process.