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Pre-Approved Personal Loan –Get Instant Funds in as low as 30 minutes

A pre-approved personal loan is a quick, hassle-free way to access funds. In contrast to regular personal loans that require lengthy documentation and approval processes, a pre-approved loan ensures faster processing and minimal formalities. Thus, allowing you to access funds instantly when needed. Whether it's for an emergency expense, a planned purchase, or consolidating debt, a pre-approved instant loan offers flexibility and convenience. Read on for more

What is a Pre-Approved Personal Loan?

A pre-approved personal loan is a fast-track borrowing option where the lender pre-qualifies you based on your creditworthiness, income stability, and banking relationship. Unlike traditional loans, there’s no lengthy approval process—your offer is ready before you even apply! With, IDFC FIRST Bank takes this a step further, delivering an instant personal loan that combines speed, flexibility, and transparency.

Why Choose IDFC FIRST Bank for Your Pre-Approved Loan?

Quick access to funds Quick access to funds

Quick access to funds

Get approved in no time and access up to ₹10 lakhs with a fully digital process.

Minimal documentation Minimal documentation

Minimal documentation

The entire process is digital, involving a quick display of your PAN card during the video KYC verification process.

Competitive interest rates Competitive interest rates

Competitive interest rates

With IDFC FIRST Bank, the pre-approved personal loan interest rate is customised based on your credit profile, starting at just 10.70% per annum.

Flexible loan amounts Flexible loan amounts

Flexible loan amounts

Borrow only what you need, when you need it, and avail multiple loans from your pre-qualified loan offer instantly.

Zero foreclosure charges Zero foreclosure charges

Zero foreclosure charges

Pay off your loan early without penalties, saving you money.

Multiple on-demand loans Multiple on-demand loans

Multiple on-demand loans

Access additional funds anytime with a few clicks—no need to reapply.

Tailored to you Tailored to you

Tailored to you

A sanctioned limit based on your credit score (730+) and income, ensuring you get what you deserve.

Seamless digital experience Seamless digital experience

Seamless digital experience

Apply, withdraw, and manage your loan from your phone, wherever you are.

Eligibility for a Pre-Approved Personal Loan

To qualify for pre-approved personal loan offers, customers need to meet the following eligibility criteria:

Age Age

Age: Between 21 to 60 years at the time of submitting the loan application.

Employment Employment

Employment Type: Available for both salaried and self-employed individuals with stable income sources.

CIBIL Score CIBIL Score

Credit Score: A minimum credit score of 730 is required to be eligible for exclusive pre-approved loan offers.

Documents Required

Digital Loans from IDFC FIRST Bank simplifies the documentation process, making it easy for you to avail a pre-approved loan.

Identity Proof Identity Proof

The only document required is your PAN card for digital verification during the video KYC process.

The only document required is your PAN card for digital verification during the video KYC process.

Benefits of a Pre-Approved Personal Loan

Scan the QR code to apply for a travel loan.

Speed

Funds disbursed in minutes, not days.

Register with your mobile number.

Convenience

Minimal documentation and a 100% online process.

Confirm basic details to check your eligibility.

Control

Flexible repayments and no pressure to use the full amount.

Choose your loan preferences and link your bank account.

Savings

Low rates and zero foreclosure fees keep costs down.

Tailored Personal Loan Options

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 10.70% 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 10.70% 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 10.70% 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 10.70% p.a.

Frequently Asked Questions

What is PAPL (Pre-Approved Personal Loan)?

A Pre-Approved Personal Loan (PAPL) is a loan offer extended to eligible customers based on their credit profile, banking relationship, and repayment history. IDFC FIRST Bank’s FIRSTmoney provides 100% digital personal loans with minimal documentation and instant disbursals within 30 minutes, ensuring quick access to funds without the hassle of lengthy application processes.

How much time does it take for pre-approved loan approval and disbursal?

With FIRSTmoney, the approval process for a personal loan is instant. Once the applicant completes the digital verification, including Video KYC, the loan is disbursed within 30 minutes, depending on the verification process.

Does pre-approval guarantee a personal loan?

No, pre-approval does not guarantee loan disbursal. The final loan approval depends on factors such as income verification, credit score, and compliance with IDFC FIRST Bank’s internal policies.

Can a pre-approved loan be rejected?

Yes, a pre-approved loan may be rejected if there is a drop in the applicant’s credit score, discrepancies in the provided information, or changes in financial status that impact loan eligibility.

How does the pre-approval process work for personal loans?

IDFC FIRST Bank evaluates a customer’s banking history, creditworthiness, and repayment behaviour to pre-approve a loan. Customers can then apply online, furnish the document (PAN card during video KYC) and receive instant disbursal upon final approval.

What is the maximum loan amount with FIRSTmoney?

You can access up to ₹10 lakhs, depending on your credit profile. You can have multiple on demand loans of different amounts 5 lakh personal loan, 4 lakh personal loan, 2 lakh personal loan & etc as per your eligibility and approved loan offer.

Are there any hidden charges?

No—FIRSTmoney offers transparent pricing with no maintenance or foreclosure fees.

How fast can I get the funds?

Once approved, funds are available instantly within 30 minutes after KYC verification.

More FAQs