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Apply NowExperience a simple, intuitive digital journey and apply for a smart personal loan online of up to ₹10 lakh at competitive interest rates, low processing fees and zero foreclosure charges. Benefit from an entirely paperless process and get quick disbursals
With FIRSTmoney, enjoy a quick, paperless process and get the loan amount credited directly to your bank account. Whether it’s a dream vacation, a home renovation, or an emergency, FIRSTmoney is the ideal solution. Here’s what you get:
Example: For a personal loan of ₹50,000 at the rate of 10.99% per annum, for a tenure of 36 months (about 3 years), the EMI amount, excluding the processing fee, will be ₹1,637/-*
*Illustrative purposes only. Loan disbursal at sole discretion of IDFC FIRST Bank Ltd. Terms & Conditions Apply
* 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 personal loan application getting approved.
FIRSTmoney Smart Personal Loan Documentation
Save time and effort with a completely digital FIRSTmoney smart loan application process. To apply for a FIRSTmoney smart personal loan, all you need is to present your physical PAN card at the time of completing the video KYC process. So you don’t have to upload any documents to apply for the instant personal loan online.
Save time and effort with a completely digital FIRSTmoney smart loan application process. To apply for a FIRSTmoney smart personal loan, all you need is to present your physical PAN card at the time of completing the video KYC process. So you don’t have to upload any documents to apply for the instant personal loan online.
Amount in ₹
5000 1000000
Period
2 months 60 months
Rate of Interest
10.99% 60%
You will pay EMI of only, per month
The calculations provided are for illustrative purposes only. For precise figures, please use a personal loan EMI calculator and refer to the Repayment Schedule and Loan Agreement
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:
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:
Medical emergencies often come with unexpected expenses and a personal loan can offer access to quick funds. With a FIRSTmoney smart personal loan, 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 personal loan for medical expense, offers invaluable support and peace of mind during medical emergencies. Here's how:
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. Use your credit limit as an when you need.
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:
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:
Medical emergencies often come with unexpected expenses and a personal loan can offer access to quick funds. With a FIRSTmoney smart personal loan, 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 personal loan for medical expense, offers invaluable support and peace of mind during medical emergencies. Here's how:
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. Use your credit limit as an when you need.
Get FIRSTmoney Smart Personal Loan of Different Amounts
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, personal loans 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 online 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. The details are available on the Loans Dashboard where FIRSTmoney Personal Loans drawn and credit line available & utilized will be visible. 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 offered by a bank. It offers a credit line to customers, which they can withdraw from anytime without any collateral or co-signee. The money is instantly credited to the customer’s preferred bank account. The process is entirely digital, ‘Do-It-Yourself’ without the need for physical documentation.
A Smart Personal Loan/Credit line is an offering where the customer obtains a sanctioned credit limit. Any amount can be withdrawn multiple times until the limit is reached, subject to policy conditions and credit score. Upon successful re-payment of EMIs, the principal component of the repaid amount is credited back, making it a smarter way to borrow.
You can foreclose your loan via the IDFC FIRST Bank mobile app with the following steps:
FIRSTmoney is an instant credit line where you can withdraw any amount from the available limit 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:
|
Regular Personal Loan (One-time credit) | FIRSTmoney (Credit line) |
Time taken for disbursal | 2-3 days | Within 2 hours |
Number of drawdowns | One | Unlimited, up to the credit limit |
Processing fees | Up to 4% | 2% |
Foreclosure fees | 4-5% of outstanding principal | NIL |
Features | Personal Loan | FIRSTmoney | Credit Card |
Multiple Withdrawals/transactions | No | Yes | Yes |
Credit to Bank Account | Yes | Yes | No |
Conversion to EMI | Yes | Yes | Only eligible transactions |
Upfront Fee | Low | Very Low | Joining/annual fees may be applicable |
Interest rates | Low | Low | High interest on revolving credit |
Foreclosure charges | Yes | No | No |
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 for a salaried customer. The minimum tranche/drawdown amount is ₹5000 and maximum tranche amount is the full credit line offered to the customer.
IDFC FIRST Bank provides a complete digital experience of availing Smart Personal Loans/Credit Line for salaried 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 750 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:
Don’ts:
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 view the general fees & charges levied on a Personal Loan.
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:
You can make overdue payments via the IDFC FIRST Bank mobile app with the following steps:
You can apply for a personal loan online by visiting our website or scanning the QR code provided. The entire process is digital, from eligibility check to loan disbursal.
Yes, our smart personal loans online are unsecured, meaning no collateral is required. You can get the loan amount directly in your account without any need for documentations, property, or asset pledges.
You can withdraw any amount starting from ₹5000 up to your approved credit limit, which could be as high as ₹10 lakh, making it a great option for those looking for smart personal loans.
The approval and disbursal processes are swift. Once you complete the personal loan apply online process, the loan is credited to your account within 24 hours.
Yes, a small processing fee applies when you apply for personal loan online. However, the fees are minimal, and you benefit from zero foreclosure charges when you repay early.
You can check the status of your loan through the IDFC FIRST Bank mobile app, where details about your instant personal loan online will be available on the Loans Dashboard.
Yes, once your credit limit is set, you can make multiple withdrawals as needed, making it a highly flexible personal loan online apply option.