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Apply for Quick Loan Online

Quick loans are instant financial solutions designed to meet urgent monetary needs with minimal documentation and speedy approval. Whether it’s managing medical emergencies, wedding expenses, or travel plans, quick loans provide immediate access to funds. Read on for more

EMI Calculator for Quick Personal Loans 
 

The personal loan calculator offers borrowers a quick way to estimate their monthly payments, helping them plan their finances accordingly.

For example, let’s calculate for a loan amount of Rs. 1,00,000 at an interest rate of 10.99% p.a. for 24 months:

Principal Loan Amount (P): Rs. 1,00,000
Rate of Interest (R): 10.99% annually = 0.0091 monthly
Tenure (N): 24 months
EMI = Rs. 4,675/ month

This calculator helps in planning your finances before applying.

 

Key Benefits and Features of Quick Loans

Fast Processing Fast Processing

Fast Processing

Experience a completely digital and quick application process with instant approvals, ensuring you receive funds when you need them the most.

Flexible Loan Amounts Flexible Loan Amounts

Flexible Loan Amounts

Choose any loan amount of up to ₹10 lakhs that suits your financial requirements.

Competitive interest rates Competitive interest rates

Competitive interest rates

Benefit from attractive interest rates starting at just 10.99% per annum, making repayment affordable and helping you manage your financial commitments without strain.

No Collateral Required No Collateral Required

No Collateral Required

Enjoy unsecured loans without pledging any collateral, ensuring a hassle-free borrowing experience.

Zero Foreclosure Benefit Zero Foreclosure Benefit

Zero Foreclosure Benefit

Take advantage of the foreclosure benefit, allowing you to repay the loan anytime with zero foreclosure charges, saving on interest and enhancing financial freedom

How FIRSTmoney can empower you

How FIRSTmoney can empower you

Travel

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, FIRSTmoney offers the financial freedom to turn your travel aspirations into reality.

With competitive rates and flexible terms, FIRSTmoney empowers you to book premium accommodations, indulge in once-in-a-lifetime experiences, and create unforgettable memories without compromise. Apply seamlessly on an end-to-end digital journey and make your bookings the same day without dipping into your savings.

Advantages of FIRSTmoney for travel expenses:

  • • Set up a credit limit with FIRSTmoney once and enjoy your travel the way you want with the multiple withdrawal facility.
  • • 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 10.99 % p.a. 
  • • No need for collateral or security deposit to set up a loan.
  • • By responsibly managing your loan, you can enhance your credit profile, opening doors to even greater opportunities for future travel endeavors.

Emergency Loan

In times of financial emergencies, FIRSTmoney 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 loan can be a lifeline during emergencies:

  • • Effortless online application process with complete digital verification - apply in 2 easy steps for an emergency personal loan online
  • • Get the 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 10.99% p.a. only.
  • • Safeguard your financial stability in the face of emergencies

Wedding Loan

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, FIRSTmoney 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 ₹10 lakh, allowing you to cover all aspects of your wedding expenses with ease.
  • • Completely paperless, quick and digital application process
  • • One-time sanction with the facility to withdraw multiple times
  • • Attractive fixed interest rate (on a monthly reducing basis) commencing at 10.99% p.a. only
  • • No need for collateral or security
  • • Enjoy flexible repayment terms extending up to 60 months

Medical Loan

Medical emergencies often come with unexpected expenses. With FIRSTmoney, you have the financial flexibility to explore various treatment options, including specialists, alternative therapies, or out-of-network providers, ensuring that you can pursue the best possible care for yourself or your loved ones. FIRSTmoney – our smart instant personal loan, offers invaluable support and peace of mind during medical emergencies. Here's how:

  • • Can act as a top-up to your insurance for medical expenses
  • • Cover unforeseen costs, such as ambulance fees, hospital stays, surgeries, and specialized treatments
  • • Access funds anytime, anywhere to address medical bills, treatments, and medications without delay
  • • No need for collateral or security
  • • Attractive fixed interest rate (on a monthly reducing basis) starting at just 10.99% p.a.
  • • Tailor your payments to fit your budget and financial capabilities, providing additional peace of mind during a challenging time

Home Improvement Loan

Renovating your home or any structural upgrades can put a significant financial strain on your savings. 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. Use your credit limit as an when you need. 

  • • 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
  • • Attractive fixed interest rate (on a monthly reducing basis) starting at just 10.99% p.a.

Eligibility Criteria for Quick Loans

Age: 21 to 60 years Age: 21 to 60 years

Age: 21 to 60 years

Employment: Salaried or self-employed with consistent income Employment: Salaried or self-employed with consistent income

Employment: Salaried or self-employed with consistent income

CIBIL Score: Minimum score of 730 for approval CIBIL Score: Minimum score of 730 for approval

CIBIL Score: Minimum score of 730 for approval

* CIBIL Score is a 3-digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections on your CIBIL Report and ranges from 300 to 900. The closer your score is to 900, the higher are the chances of your loan application getting approved.

Documents Required for Application

Streamline your experience with the fully digital application process for a FIRSTmoney smart personal loan.

To apply for a FIRSTmoney smart personal loan, simply present your physical PAN card during the video KYC process. To apply for a FIRSTmoney smart personal loan, simply present your physical PAN card during the video KYC process.

To apply for a FIRSTmoney smart personal loan, simply present your physical PAN card during the video KYC process.

To apply for a FIRSTmoney smart personal loan, simply present your physical PAN card during the video KYC process.

This eliminates the need to upload any documents, allowing you to conveniently apply for a quick loan online. This eliminates the need to upload any documents, allowing you to conveniently apply for a quick loan online.

This eliminates the need to upload any documents, allowing you to conveniently apply for a quick loan online.

This eliminates the need to upload any documents, allowing you to conveniently apply for a quick loan online.

Quick Loan Interest Rates and Charges
 

Particulars Details
Interest Rate Starting at 10.99% p.a.
Processing Fee 2 % of the loan amount including GST
Foreclosure Charges None

 

View personal loan interest rates

 

Steps to Apply for Quick Personal Loan
 

Online Application

  1. Scan the QR code available above to apply for a quick loan online
  2. Register with your mobile number and confirm basic details to check your loan eligibility
  3. Choose your loan preferences, including the tenure and repayment terms
  4. Link your bank account for the disbursement of funds
  5. Complete the video KYC process by displaying your PAN card 

Offline Application

  1. Go to the nearest IDFC FIRST Bank branch
  2. Submit required documents like identity proof, address proof, and income proof
  3. Complete the application form and await processing

 

Things to Consider Before Applying for Quick Loans
 

  1. Interest Rate: Review and compare to ensure affordability
  2. Loan Amount: Borrow based on your exact needs to avoid over-borrowing
  3. Loan Tenure: Choose terms suitable for your repayment capacity

How to Apply for a Small Personal Loan Online?

Start by scanning the QR code

Step 1

Start by scanning the QR code

Register using your mobile number

Step 2

Register using your mobile number

Confirm basic/personal details to check your eligibility

Step 3

Confirm basic/personal details to check your eligibility

Select the loan amount of your choice starting from as little as ₹5,000 up to your full credit limit and choose flexible repayment terms

Step 4

Choose your loan preferences, including the tenure and repayment terms

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

Step 5

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

Complete the video KYC verification process

Step 6

Complete the video KYC verification process

Frequently asked questions

What are quick loans?

Quick loans are unsecured personal loans designed to cater to urgent financial needs, offering fast approval and minimal documentation. These loans ensure timely access to funds without the need for collateral.

How long does it take to receive the loan amount?

Once your application is approved, the loan amount is disbursed within 24 hours, providing you with prompt financial assistance.

What is the maximum loan amount I can avail?

Eligible applicants can borrow up to ₹10 lakhs, making it suitable for managing various expenses like medical emergencies, travel, or home renovations.

Are there any hidden fees in quick loans?

No, IDFC FIRST Bank maintains transparency by disclosing all charges upfront during the application process, ensuring a hassle-free experience.

Is there any collateral necessary to get a quick loan?

No, these loans are unsecured, meaning you don’t need to provide any collateral or security, making them convenient and accessible for all.

More FAQs