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Apply for a ₹4 lakh personal loan with FIRSTmoney

You can use an instant personal loan to finance your dreams, cover unexpected expenses, or even pay for upskilling yourself. A personal loan of ₹4 lakh from FIRSTmoney can turn these aspirations into reality. Whether it's planning a dream wedding, funding higher education, renovating your home, or tackling medical emergencies, FIRSTmoney provides a seamless and efficient solution to meet your financial needs. This unique credit limit ensures that obtaining a personal loan of ₹4 lakh is not just simple, but also quick and hassle-free. Read on for more

Benefits of a ₹4 lakh personal loan via FIRSTmoney

Multiple withdrawals Multiple withdrawals

Multiple withdrawals

With FIRSTmoney, access funds whenever needed without reapplying for a new loan. Withdraw money anytime and repay at your convenience.

Foreclosure benefits Foreclosure benefits

Foreclosure benefits

Want to foreclose your loan? Not a concern with FIRSTmoney. You can use the ₹4 lakh personal loan and repay the used funds in full anytime without incurring a foreclosure charge. The repaid amount will reflect in your accessible credit limit once successfully paid.

100% Digital Journey 100% Digital Journey

100% Digital Journey

FIRSTmoney offers a complete digital journey with zero paperwork. You can customise your loan as per your financial requirement along the application process. Simply scan the QR code and get going.

Convenient loan repayment options Convenient loan repayment options

Convenient 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.

Personal loan amount flexibility Personal loan amount flexibility

Personal loan amount flexibility

Enjoy the flexibility to withdraw funds as and when needed. You can access any amount starting from ₹5,000 up to your approved limit. Depending on your requirements, withdraw funds in one go or in tranches.

Instant Approval & Quick disbursal Instant Approval & Quick disbursal

Instant Approval & Quick disbursal

Enjoy a completely paperless application process. The advanced technology behind FIRSTmoney makes it easy to access a ₹4 lakh personal loan instantly with a completely online process.

Eligibility Criteria for a ₹4 lakh personal loan

CIBIL score CIBIL score

CIBIL score: To obtain the FIRSTmoney smart personal loan credit limit, applicants need to have a good credit record and a CIBIL score of 730 and above.

Employment Employment

Employment: FIRSTmoney smart personal loan credit limits are available to salaried and self-employed individuals

Age Age

Age: Anyone aged between 21 to 60 years can apply for this line of credit.

* 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 a ₹4 Lakh personal loan

documentation documentation

No more lengthy documentation with FIRSTmoney smart loans. You can save your time and effort to focus on other things. To apply for a ₹3 lakh personal loan from FIRSTmoney, all you need is to display your physical PAN card at the time of video KYC.

No more lengthy documentation with FIRSTmoney smart loans. You can save your time and effort to focus on other things. To apply for a ₹3 lakh personal loan from FIRSTmoney, all you need is to display your physical PAN card at the time of video KYC.

How can you calculate your personal loan EMI?

The reducing balance calculation method is commonly employed to calculate the EMI for a ₹4 lakh personal loan, this technique determines 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 ₹4 lakh personal loan using FIRSTmoney?

Scan the QR code to apply for a personal loan.

Step 1

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

Register with your mobile number.

Step 2

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

Confirm basic details to check your eligibility.

Step 3

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.

Choose your loan preferences and link your bank account

Step 4

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

Once verified, receive the loan amount in your account within 24 hours

Step 5

Complete the video KYC verification process with your physical PAN card.

After your credit limit is approved, you can start using the funds as per your needs and withdraw ₹4 lakh in tranches or in one go.
 

Frequently asked questions

What is the interest rate for a ₹4 lakh FIRSTmoney loan?

The minimum interest rate for a FIRSTmoney loan is 10.99%, which can vary based on your credit score, income, and repayment capacity. Competitive rates are offered, ensuring affordability and manageable EMIs.

How long does it take to get approval for a personal loan of ₹4 lakh?

The approval process for a FIRSTmoney loan is swift and efficient. If all the required documents are in order and you meet the eligibility criteria, the loan approval can be granted within a few hours. Disbursal usually follows shortly after, ensuring you get your funds quickly.

Can I foreclose my FIRSTmoney loan? Are there any charges?

Yes, you can foreclose your FIRSTmoney loan by repaying your loan before maturity with zero foreclosure charges to save more on interest payments.

What is the tenure range for a FIRSTmoney loan of ₹4 lakh?

The tenure for repaying a FIRSTmoney smart personal loan can range from 2 to 60 months. This flexibility allows you to choose a repayment period that best suits your financial situation and repayment capacity.

Is it necessary to have a good credit score to get a personal loan of ₹4 lakh?

A good credit score of 750 and above enhances your chances of getting favourable loan solutions such as FIRSTmoney. FIRSTmoney also considers various factors such as your income, employment stability, and overall financial health. 

How can I calculate my EMI for a ₹4 lakh personal loan?

You can calculate your EMI using FIRSTmoney’s online EMI calculator. By entering the loan amount, interest rate, and tenure, you can get an instant estimate of your monthly repayments, helping you plan your finances better.

Can I withdraw the loan amount in parts with FIRSTmoney?

Yes, FIRSTmoney allows multiple withdrawals from your approved loan amount. This feature provides flexibility to access funds as and when needed, making it ideal for ongoing or unexpected expenses.

What happens if I miss an EMI payment?

Missing an EMI payment can result in late fees and could impact your credit score. It is best to ensure timely repayments to avoid additional charges and maintain a good credit record. 

How do I apply for a ₹4 lakh loan with FIRSTmoney?

Applying for a loan is easy and fully digital. Simply visit the FIRSTmoney website or download the app, fill in the online application form, and submit your application. After review and approval, the loan amount will be disbursed to your bank account quickly.

More FAQs

Instant Personal Loan Fees and Charges Instant Personal Loan Fees and Charges

Fees & Charges

Enjoy pocket-friendly interest rates