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Apply for an Instant ₹7 Lakh Personal Loan at Low Interest Rates
No documentation. Disbursals in minutes.
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Personal Loan EMI Calculator
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply. **For select loan amounts
Apply for a ₹7 Lakh Personal Loan Instantly
Tired of lengthy paperwork and complex loan processes? FIRSTmoney personal loan is a smarter, faster way to borrow. Designed for your dynamic financial needs, FIRSTmoney helps you access up to ₹7 lakh quickly and conveniently.
You can access multiple loans from your approved limit, anytime, as needed, without having to reapply. Plus, you pay interest only on the amount you use. With flexible repayments and zero foreclosure charges, FIRSTmoney gives you complete control over your loan journey.
Benefits of a ₹7 Lakh Personal Loan with FIRSTmoney
Zero foreclosure charges:
With FIRSTmoney, you can use the ₹7 lakh personal loan and repay it in full anytime without incurring a foreclosure charge.
100% digital journey:
With FIRSTmoney, experience a complete digital journey with zero paperwork. You can choose your loan amount as per your financial requirement. Simply scan the QR code to begin the application process. This makes it easier to apply for ₹7 lakh personal loan without paperwork.
Multiple on-demand loans, single application:
With FIRSTmoney, access funds whenever you need without reapplying for a new loan. With FIRSTmoney, you can borrow specific amounts from your pre-qualified loan as per your requirements and pay interest only on what you use.
Flexible repayment options
Choose a repayment plan that fits your needs, with tenures ranging from 9 to 60 months.
Flexible loan repayment options:
Get the flexibility to choose a customisable loan EMI plan that suits your requirements. Opt for any tenure ranging between 9 months and 60 months to repay your loan without financial stress.
Swift disbursal:
Get your loan in minutes with no paperwork hassles! With FIRSTmoney, you can instantly access up to ₹7 lakh through a fast, seamless, and completely online process. You can apply for a ₹7 lakh personal loan and receive funds quickly whenever needed.
Personal Loan Eligibility and Documentation
Eligibility criteria for a ₹7 lakh personal loan
Before applying for an IDFC FIRST Bank personal loan, check the following –
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Documents required for a ₹7 Lakh personal loan
There’s no need to upload documents. Keep available –
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Estimate your monthly payments for a ₹7 lakh personal loan
With FIRSTmoney, the EMI for a ₹7,00,000 personal loan is calculated using the reducing balance EMI method. With this method, the interest portion of each EMI reduces over the tenure, while the principal portion gradually increases, resulting in more efficient repayment and lower overall interest cost. To understand your ideal EMI and choose a tenure that suits your budget, use the personal loan EMI calculator. It allows you to compare repayment options and find a balance between the EMI amount and repayment duration. Before you apply for a ₹7 lakh personal loan, it is important to estimate your EMI for better planning. Explore the table below to know how your EMIs change based on the tenures you choose for a personal loan of ₹7,00,000.
| Loan Amount (₹) | Interest Rate (p.a) | Tenure | Approx EMI (₹) |
| ₹7,00,000 | 9.99% | 1 year | ₹61,538 |
| ₹7,00,000 | 9.99% | 2 years | ₹32,299 |
| ₹7,00,000 | 9.99% | 3 years | ₹22,582 |
| ₹7,00,000 | 9.99% | 4 years | ₹17,750 |
| ₹7,00,000 | 9.99% | 5 years | ₹14,869 |
What can you use a ₹7 Lakh Personal Loan for?
A ₹7 lakh personal loan gives you the financial flexibility to handle both planned and unexpected expenses without affecting your savings.
You can use it for a variety of personal financial needs, such as:
• Covering major medical expenses, surgeries, or emergency treatments.
• Funding wedding arrangements, including venue, catering, and décor.
• Planning domestic or international travel with complete ease.
• Renovating or upgrading your home, including interiors and repairs.
• Managing higher education or professional course fees.
• Consolidating multiple debts into one manageable EMI for better financial control.
Easy Guide on How to Apply for a Personal Loan
Step 1
Click on ‘Apply Now’
Step 2
Register using your basic details
Step 3
Choose the eligible loan amount and EMI plan
Step 4
Add your bank account for disbursal
Step 5
Show your PAN card during the video KYC
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Interest Rates & Charges for Personal Loan
Interest Rates & Charges for Personal Loan
Low Interest Rate
Personal Loan Interest rate starts from 9.99% p.a., calculated on a reducing balance basis.
Processing Fee
Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts)
[View fees & charges]
Flexible Loan Tenure
Repayment terms: 9–60 months
Frequently Asked Questions
How does FIRSTmoney work for a loan of ₹7 lakh?
Once you get your sanctioned FIRSTmoney loan of ₹7 lakh, you can opt for multiple on-demand loans up to your approved loan offer.
What is the eligibility criteria for a FIRSTmoney loan of ₹7 lakh?
For FIRSTmoney loans, you need to be an Indian resident aged between 21 to 60 years, salaried or self-employed, and have a good credit score of 710 or above
Can I apply for a FIRSTmoney loan online?
Yes, FIRSTmoney offers a 100% digital journey, allowing you to apply for and manage your loan entirely online, from the application to disbursal process.
Apply instantly via the IDFC FIRST Bank mobile app
Do’s and Don’ts about Personal Loan
Do's
- Evaluate your repayment ability before applying
- Choose an EMI contribution aligned with your monthly income
- Clearly understand all loan terms and charges
- Use funds for planned financial needs
- Regularly track your EMI schedule
Don’ts
- Do not rely only on loan eligibility
- Avoid ignoring the total repayment amount
- Do not overburden your monthly finances
- Avoid unnecessary borrowing
- Do not miss repayment deadlines
Things to know about ₹7 lakh Personal Loan
Eligibility Criteria
FIRSTmoney personal loans are available to salaried individuals with stable income, a minimum salary value of ₹10,000, and a CIBIL score of 710 or above.
Processing fees & charges
Along with interest, personal loans include processing fees and applicable charges. FIRSTmoney ensures transparency to help borrowers effectively plan total costs.
Interest rates
₹7 lakh loan interest rates influence EMI and total repayment cost. Get competitive rates starting from 9.99% p.a. with FIRSTmoney.
Easy loan comparison
Comparing loan options based on rates, tenure, and charges helps in making informed decisions. Get clear and simple loan details with FIRSTmoney.
Better financial planning
Flexible tenure up to 60 months helps align EMIs with income and supports structured financial planning.
Tips to smartly use your Personal Loan
Tip 1
Understand your repayment commitment
Evaluate your income and expenses carefully to ensure EMIs remain manageable throughout the loan tenure.
Tip 2
Avoid unnecessary financial commitments
Limit additional liabilities to maintain financial stability and reduce repayment pressure.
Tip 3
Regularly monitor your loan
Track EMIs, due dates, and outstanding balance to stay financially organised.
Choose your personal loan amount with FIRSTmoney
Different Types of Personal Loan for you
Travel Loan
Enjoy competitive interest rates and flexible repayment options with a FIRSTmoney smart personal loan. Whether you're booking premium stays, indulging in once-in-a-lifetime adventures, or crafting unforgettable memories, you can do it all without compromise. Apply for a travel loan through a fully digital process and make instant bookings, without touching your savings.
Emergency Loan
During financial emergencies, a FIRSTmoney smart personal loan serves as a reliable source of support and stability. Rather than using up your savings or withdrawing from your investments, this loan allows you to safeguard your long-term financial plans. Discover how our emergency loan can help you navigate unforeseen challenges with confidence.
Wedding Loan
Turn your dream wedding into a reality with our specially crafted FIRSTmoney smart personal loan. Avoid exhausting your savings or relying on high-interest credit cards, this wedding loan helps you preserve financial stability while beginning a new chapter in life.
Medical Loan
Medical emergencies can bring sudden costs, and a personal loan provides quick access to funds when you need them most. With financial flexibility, you can choose the best treatment options, whether it’s consulting specialists or exploring alternative therapies. FIRSTmoney, our smart personal loan for medical expenses, gives you essential support and peace of mind during health crises.
Home Improvement Loan
Home renovations or structural improvements can often stretch your savings. A personal loan offers a practical and dependable way to fund these upgrades. With a home renovation loan, you can manage and plan your improvement expenses based on your specific requirements.
Personal Loan Tips & Insights: Your Guide to Smarter Borrowing
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How to Get a Personal Loan with a Low CIBIL Score
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