Apply for Personal Loan Online Starting at 9.99%* p.a.

With FIRSTmoney, you only need your PAN card during the VKYC (Video KYC) process. This reduces the document verification time and offers instant approvals to meet your urgent needs.

To settle your loan, repay the entire outstanding principal and the part-period interest. You can either make a full payment to foreclose or pay off missed EMIs to regularize the account. Always settle through official channels and request a loan settlement certificate for your records.

Yes, FIRSTmoney offers fixed-rate personal loans with a reducing balance, where your interest rate remains the same throughout the tenure. This ensures predictable EMIs and better financial planning without any rate fluctuations. With FIRSTmoney, you also enjoy benefits like multiple on-demand loan amounts, paying EMIs only on the used funds, and zero foreclosure charges to close your loan anytime.

A personal loan is a type of unsecured loan provided by banks or online lenders. Unlike secured loans like home loans or car loans, personal loans do not require any collateral. Borrowers receive funds which they repay over time with interest, typically in fixed monthly instalments.

Personal loans are extremely versatile, allowing you to meet your various financial needs. Common uses include covering medical expenses, funding home renovations, paying for weddings or other events, financing travel plans, or even starting a small business. Essentially, can be utilised for any personal or household expense.

To determine your eligibility for a personal loan, factors such as your credit score, income, employment status, existing debts, and repayment history are considered. You can check your eligibility by visiting the personal loan section of the IDFC FIRST Bank portal or by using the Personal Loan Eligibility Calculator. This tool requires basic information such as your income, employment details, and existing financial commitments.

If you wish to modify your EMI schedule for your personal loan, you can contact IDFC FIRST Bank directly. You can contact our customer service by dialling 1800-10-888.

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 check personal loan fees and charges.

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.

Yes, applicable GST is added to your loan processing charges. For example, if the processing fee is 2% of the loan amount, 18% GST will be charged on that fee. Make sure to factor in GST while reviewing your final loan cost. Check the latest fees and charges on FIRSTmoney smart personal loans.

Yes, whenever you apply for a personal loan, a hard inquiry is made on your credit profile, which may temporarily reduce your score. However, timely repayments and responsible loan management help improve your credit score over time.

Credit assessment involves reviewing your credit history, income, debt obligations, and financial behavior to determine your loan eligibility. This process helps the lender offer you a suitable loan amount and interest rate with personalized terms.

Yes, if you're an existing IDFC FIRST Bank customer, you can apply for a personal loan through net banking. The platform may show you pre-approved or personalized loan offers based on your account history and eligibility. The process is 100% digital and takes only a few minutes to disburse funds into your bank account.

Log in to your IDFC FIRST Bank loan account via the official website or the IDFC FIRST Bank mobile app. Navigate to ‘Loan Statement’ and download your account summary, EMI schedule, and interest certificate instantly. These documents help with tax planning and financial management.

Some banks may offer a loan if your Aadhaar is linked to your mobile and PAN, so you should check the documents required with the bank you are applying to. You can complete the video KYC process and apply for a personal loan online without submitting physical documents. However, with FIRSTmoney, you only need your valid Aadhar number & physical PAN card during the video KYC process to apply for a personal loan.

No, taking loan insurance is optional, though it is recommended for protection in case of job loss, illness, or unforeseen events. If offered, you may opt for it after reading the terms and understanding the premium impact on your EMI.

Yes, IDFC FIRST Bank’s FIRSTmoney offers a secure platform to apply for a personal loan. With end-to-end encryption, OTP verification, and secure video KYC, your data and transactions are well protected. Always use trusted sources to apply for a loan and avoid sharing credentials elsewhere.

Your credit score, loan amount, tenure, income level, and repayment history influence your interest rate. With FIRSTmoney, personal loan interest rates start at just 9.99%* p.a. for eligible customers.

An EMI bounce may attract bounce charges, negatively affect your credit score, and trigger reminders from the bank. Repeated missed payments may lead to legal recovery action. It is always advisable to set an auto-debit and ensure a sufficient balance before the due date.

IDFC FIRST Bank’s FIRSTmoney offers flexible tenures ranging from 9 months to 60 months to help you plan your finances effectively so that you pay EMIs on time and avoid unnecessary penalties.