IDFC FIRST Bank FIRSTmoney
Get instant personal loans up to ₹10 lakh at competitive 9.99% interest rates, zero foreclosure charges and fast 30-minute disbursal. 100% digital application, flexible EMIs.
If you’re looking for a personal loan online, the IDFC FIRST Bank FIRSTmoney Personal Loan stands out with a starting interest rate of just 9.99% per annum. Loan amounts can go up to ₹10 lakh, and the entire process is handled digitally, requiring no collateral. Loan terms range from 9 to 60 months, and eligible individuals can enjoy zero foreclosure charges—offering maximum flexibility and transparency for the borrower.
How to Apply: Step-by-Step
- Click on ‘Apply Now’ on the bank’s official portal
- Register with basic details
- Choose your preferred loan amount, tenure, and EMI plan
- Link your bank account for receiving funds
- Complete a simple video KYC by showing your physical PAN card
Pros
One of the biggest advantages is the swift approval and instant disbursal, often completed within 30 minutes. The loan is fully digital, so there’s no paperwork involved.
Borrowers also benefit from zero foreclosure or prepayment charges, letting you close your loan early with no penalty. Flexible tenures and custom EMI dates make budgeting easier.
Cons
To qualify, you’ll need a good CIBIL score (710+), which might exclude some applicants with lower credit history. The loan is also open only to salaried or self-employed individuals within age criteria.
If you need more than ₹10 lakh, you’ll have to explore other options or undergo additional procedures.
Verdict
IDFC FIRST Bank FIRSTmoney Personal Loan offers an appealing combination of fast approval, competitive rates, and customer-friendly flexibility, making it an excellent choice for salaried and self-employed applicants seeking hassle-free personal finance in India.
