Customer care hotline Call 1800 10 888
Login to the new experience with best features and services
Payday loans are short-term, small-ticket loans designed to help salaried individuals manage urgent financial needs. Unlike traditional loans that require extensive paperwork and involve long approval processes, payday loans online offer a hassle-free and instant solution. If you are looking for small loans for urgent needs, a FIRSTmoney smart personal loan can be your go-to solution. It offers an instant fund disbursal at competitive interest rates and comes with foreclosure benefits to help you close your loan without incurring any extra cost.
FIRSTmoney personal loan is a superior alternative to payday loans, offering a seamless, flexible, and cost-effective borrowing experience. With FIRSTmoney, you can get instant approval on personal loans up to ₹10 lakhs, ensuring quick access to funds when you need them most. The entire process is 100% digital, from application to disbursal, eliminating paperwork and long waiting times. To assess your personal loan eligibility, you can refer to the personal loan eligibility calculator available on our IDFC FIRST Bank website.
Unlike traditional personal loans, FIRSTmoney levies zero foreclosure charges, allowing you to prepay your loan at any time with no fee levied. You can either repay the full amount or choose an EMI plan that aligns with your financial planning. To calculate your exact monthly instalments, use a personal loan EMI calculator and make informed borrowing decisions.
Documents required for payday loan
All you need is a valid Aadhar Card number and physical PAN card at the time of Video KYC and get the loans disbursed in as low as 30 minutes.
All you need is a valid Aadhar Card number and physical PAN card at the time of Video KYC and get the loans disbursed in as low as 30 minutes.
IDFC FIRST Bank offers competitive interest rates and a transparent fee structure for its quick payday loans. Here’s a breakdown:
Loan component |
Charges |
Interest rate |
Low-Interest Rate Personal Loan starts from 9.99% per annum |
Processing fees |
2% of the principal loan amount, learn more |
Stamping charges |
As per applicable state regulations |
Penal charges on overdue EMI |
2% of the overdue EMI |
Bounce charges |
7.5% of the EMI / Outstanding amount with Minimum ₹ 400 and Maximum ₹ 1000 |
Note: Fees and charges may change periodically.
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:
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:
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:
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.
Get FIRSTmoney Smart Personal Loan of Different Amounts
A payday loan is a short-term loan designed to provide immediate financial assistance to salaried individuals facing an urgent cash requirement before their next salary credit. It offers quick access to funds, typically with a single repayment due on the next payday.
The term “payday loan” comes from the repayment structure of the loan, where the borrower repays the entire loan amount, along with interest and applicable charges, on their next salary credit date. It is meant to bridge temporary financial gaps until the next paycheck.
You can apply for a payday loan online through IDFC FIRST Bank’s mobile banking app or net banking. Simply log in, navigate to the personal loan section, check your eligibility, scan the QR code, choose the loan amount, accept the terms and conditions, and receive instant disbursal in your account upon approval.
With FIRSTmoney, you can avail loans of up to ₹10 lakhs. However, the maximum loan amount depends on your salary, credit history, and IDFC FIRST Bank’s credit assessment policies. Customers can check their pre-approved loan limit through the bank’s online platforms.
The minimum loan amount for a payday loan varies based on the bank’s policies but is usually set at an amount sufficient to cover urgent financial needs. With FIRSTmoney, you can opt for a loan amount as low as ₹50,000.
The total repayment amount includes the principal loan amount, interest, and any applicable charges. The tenure is typically one month, with full repayment automatically deducted from the borrower’s account on the next payday.
Check out EMIs for your next car loan, two-wheeler loan, home loan & etc using IDFC FIRST Bank’s EMI Calculator.