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Personal Loan
Grand Savings Carnival: Get a Zero Processing Fee Personal Loan with FIRSTmoney
Key Takeaways
FIRSTmoney by IDFC FIRST Bank is offering a zero processing fee personal loan to all eligible borrowers for a limited time during the Grand Savings Carnival 2026.
- With zero processing fee, your full approved loan amount from ₹50,000 to ₹15 lakh is credited to your bank account.
- This way, on a ₹5 lakh loan, a zero processing fee can save you up to ₹20,650 compared with a fee of 3.5% plus GST.
- FIRSTmoney also charges zero foreclosure charges, so you can close your loan early without any penalty.
This festive season, FIRSTmoney by IDFC FIRST Bank brings you a personal loan with zero processing fee for all eligible borrowers, available for a limited time. With shopping, travel and gifting around the corner, you can get the funds you need and keep every rupee of your approved loan amount for your plans. Under the Grand Savings Carnival, it's time for 'No more waiting, start celebrating'.
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What does a zero processing fee personal loan mean for you?
A zero processing fee means your full approved loan amount reaches your bank account. Many lenders deduct a processing fee of up to 2% to 3.5% of the loan amount, plus 18% GST on the fee, so you receive less than you were approved for.
Here's how it looks on an approved loan of ₹5 lakh:
Particulars |
With a 2% to 3.5% processing fee |
With FIRSTmoney |
Approved loan amount |
₹5,00,000 |
₹5,00,000 |
Processing fee plus 18% GST |
₹11,800 to ₹20,650 |
₹0 |
Amount credited to you |
₹4,88,200 to ₹4,79,350 |
₹5,00,000 |
That means you keep up to ₹20,650 more for your festive shopping, travel or gifting.
Who can avail the zero processing fee offer?
The offer applies to every approved FIRSTmoney loan from ₹50,000 to ₹15 lakh during the offer period. You can apply if you meet these eligibility criteria:
Applicant type: salaried or self-employed, with a stable monthly income
Age: 21 to 60 years, and an Indian resident
CIBIL score: 710 or above
You don't need an existing account with IDFC FIRST Bank to apply. Once your loan is approved, the zero processing fee applies automatically. As this is a limited-time offer, applying early helps you make the most of the savings.
How does FIRSTmoney keep your loan free of upfront and closing fees?
FIRSTmoney keeps charges low at both ends of your loan. You pay zero processing fee when you take the loan and zero foreclosure charges when you close it.
So if you receive a festive bonus or have extra savings, you can close your loan early and save on the remaining interest, without paying any penalty.
How do you apply for a FIRSTmoney personal loan on the IDFC FIRST Bank app?
You can apply for a zero processing fee personal loan in five simple steps:
- Open the IDFC FIRST Bank app and tap 'Apply Now' on FIRSTmoney.
- Enter your basic details, including your PAN and Aadhaar numbers.
- Choose your loan amount and an EMI plan with a tenure of 9 to 60 months.
- Link your bank account for disbursal.
- Complete video KYC by showing your original PAN card.
The 100% digital process needs no paperwork or document uploads, and your loan amount can be credited within 10 minutes on approval.
Conclusion
During the Grand Savings Carnival, FIRSTmoney by IDFC FIRST Bank is offering zero processing fee on every approved personal loan from ₹50,000 to ₹15 lakh, for a limited time. So your full loan amount is credited to you. Combined with zero foreclosure charges, you can save more on your overall loan cost. Apply now and start celebrating without waiting.
A zero processing fee means your full approved loan amount reaches your bank account. Many lenders deduct a processing fee of up to 2% to 3.5% of the loan amount, plus 18% GST on the fee, so you receive less than you were approved for.
Here's how it looks on an approved loan of ₹5 lakh:
Particulars |
With a 2% to 3.5% processing fee |
With FIRSTmoney |
Approved loan amount |
₹5,00,000 |
₹5,00,000 |
Processing fee plus 18% GST |
₹11,800 to ₹20,650 |
₹0 |
Amount credited to you |
₹4,88,200 to ₹4,79,350 |
₹5,00,000 |
That means you keep up to ₹20,650 more for your festive shopping, travel or gifting.
Who can avail the zero processing fee offer?
The offer applies to every approved FIRSTmoney loan from ₹50,000 to ₹15 lakh during the offer period. You can apply if you meet these eligibility criteria:
Applicant type: salaried or self-employed, with a stable monthly income
Age: 21 to 60 years, and an Indian resident
CIBIL score: 710 or above
You don't need an existing account with IDFC FIRST Bank to apply. Once your loan is approved, the zero processing fee applies automatically. As this is a limited-time offer, applying early helps you make the most of the savings.
How does FIRSTmoney keep your loan free of upfront and closing fees?
FIRSTmoney keeps charges low at both ends of your loan. You pay zero processing fee when you take the loan and zero foreclosure charges when you close it.
So if you receive a festive bonus or have extra savings, you can close your loan early and save on the remaining interest, without paying any penalty.
How do you apply for a FIRSTmoney personal loan on the IDFC FIRST Bank app?
You can apply for a zero processing fee personal loan in five simple steps:
- Open the IDFC FIRST Bank app and tap 'Apply Now' on FIRSTmoney.
- Enter your basic details, including your PAN and Aadhaar numbers.
- Choose your loan amount and an EMI plan with a tenure of 9 to 60 months.
- Link your bank account for disbursal.
- Complete video KYC by showing your original PAN card.
The 100% digital process needs no paperwork or document uploads, and your loan amount can be credited within 10 minutes on approval.
Conclusion
During the Grand Savings Carnival, FIRSTmoney by IDFC FIRST Bank is offering zero processing fee on every approved personal loan from ₹50,000 to ₹15 lakh, for a limited time. So your full loan amount is credited to you. Combined with zero foreclosure charges, you can save more on your overall loan cost. Apply now and start celebrating without waiting.
Frequently Asked Questions
Is the zero processing fee available for all borrowers?
Yes. The zero processing fee applies to every approved FIRSTmoney loan, whether you are salaried or self-employed, for loan amounts from ₹50,000 to ₹15 lakh during the offer period.
Is the zero processing fee a festive-only offer?
The zero processing fee is a limited-time offer and available during the festive season.
Can I foreclose my FIRSTmoney loan early?
Yes, you can close your FIRSTmoney personal loan at any time with zero foreclosure charges. Open the loans section of the IDFC FIRST Bank app, select your loan account, tap 'Foreclose with 0 charges', and complete the payment. You can also close your loan using the QuickPay link.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.
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