What documents are required to apply for a personal loan with FIRSTmoney?

To apply for a personal loan with a salary of ₹60,000, all you need to produce is your PAN card to complete the video KYC process.

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Get Personal Loans approved instantly.

Instant loan up to ₹10 Lakhs

Get approvals for personal loans up to ₹10 lakh in a flash
Multiple On-demand Loans & flexible EMI tenure
Repay anytime with ZERO foreclosure charges
100% digital process & 24x7 access to funds

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Get approvals for personal loans up to ₹10 lakh in a flash
Multiple On-demand Loans & flexible EMI tenure
Repay anytime with ZERO foreclosure charges
100% digital process & 24x7 access to funds

Overview
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How to apply
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Looking for loans with a ₹60,000 income? Apply for a personal loan online with FIRSTmoney

Q: How do I apply for a personal loan online with FIRSTmoney?

Applying for a personal loan with FIRSTmoney is easy and convenient. Simply visit the IDFC FIRST Bank website or mobile app, scan the QR code, and get going.

Q: How long does it take to get the personal loan approved and disbursed?

IDFC FIRST Bank offers a quick approval and disbursal process for FIRSTmoney loans. Once your application is approved, funds can be accessed within minutes, ensuring you have access to money when you need it most.

Earning a monthly salary of ₹60,000 can get you access to a personal loan through IDFC FIRST Bank's FIRSTmoney. FIRSTmoney smart personal loans involve minimal documentation and are tailored for diverse individuals in this salary range. Whether your requirement is for medical expenses, education, or home improvements, you can secure a loan of up to ₹10 lakhs with FIRSTmoney. The convenience of no foreclosure fees makes it a cost-effective and flexible solution for addressing your financial needs.

Features and Benefits of a FIRSTmoney Smart Personal Loan

100% digital journey

FIRSTmoney provides a fully digital journey with zero paperwork. You can customise your loan as per your financial requirement along the application process. Scan the QR code to simply start your application.

Flexible loan repayment options

Get the flexibility to choose a customisable loan EMI plan that suits your requirements. Opt for any tenure ranging between two months to 60 months to repay your loan without financial stress.

Foreclosure benefits

Foreclose your loan anytime without concern with FIRSTmoney. You can use the personal loan and repay the used funds in full anytime without incurring a foreclosure charge.

Competitive interest rates

With FIRSTmoney, you enjoy one of the most affordable interest rates starting at just 10.99% per annum. Lower interest rates help you keep your overall loan cost within your budget and meet your financial needs without hassles.

Swift disbursal

Enjoy a completely paperless application process. The advanced technology behind FIRSTmoney makes it easy to access a personal loan instantly with a completely online process.

Eligibility Criteria for Personal Loan on ₹60,000 Salary

Age requirements: Applicants must meet the minimum age criteria i.e., 21 years and should not exceed the maximum age limit of 60 years at the time of loan maturity.

Credit score: A good credit score is essential for getting loan approval. A credit score of 730 and above can help you secure a loan with favourable terms.

Employment status: You should be a salaried or self-employed individual with a stable income source.

Documents Required

No lengthy documentation with FIRSTmoney. All you need is to present your physical PAN card at the time of video KYC during the application process.

Loan Amount and Tenure

Loan Amount

For individuals earning ₹60,000 per month, personal loans are available in amounts ranging from ₹5,000 to ₹10 lakhs. The approved loan offer depends on the bank’s internal policy and your credit profile.

Flexible Tenure Options

You can choose a repayment tenure that ranges from 9 months to 60 months, depending on your financial situation. This flexibility allows you to structure your repayment schedule as per your convenience.

Overview of Interest Rates Offered for a ₹60,000 Salary Bracket

IDFC FIRST Bank offers the most competitive interest rates for ₹60,000 salary bracket, tailored to your financial needs.

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EMI Calculation for ₹60,000 Salary

The bank uses the reducing balance method to calculate the EMI for a personal loan through FIRSTmoney, this technique determines the interest based on the remaining loan balance. While the EMI remains constant throughout repayment, the portion allotted to principal repayment grows while the interest component diminishes over time. Read on for more

How to Apply for a Personal Loan on ₹60,000 Salary

Step 1

Start by scanning the QR code or clicking loan from your smartphone

Step 2

Register using your mobile number and confirm basic/personal details to check your eligibility

Step 3

Choose your loan preferences, including the tenure and repayment terms

Step 4

Link your bank account where you wish the funds to be disbursed

Step 5

Complete the video KYC verification process with your physical PAN card

Get FIRSTmoney Smart Personal Loan of Different Amounts

₹5 lakh Personal Loan

₹4 lakh Personal Loan

₹3 lakh Personal Loan

₹2 lakh Personal Loan

Frequently asked questions

What is the maximum loan amount I can get with a salary of ₹60,000?

With IDFC FIRST Bank’s FIRSTmoney, you can get a loan offer of up to ₹10 lakhs based on your eligibility, with a monthly salary of ₹60,000. The final loan amount depends on various factors such as your credit score and repayment capacity.

How do I apply for a personal loan online with FIRSTmoney?

How long does it take to get the personal loan approved and disbursed?

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