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₹8 Lakh Personal Loan To Power Your Goals
Get instant funds at low interest rate without any paperwork
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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
₹8 Lakh Personal Loan with FIRSTmoney
Today, there are multiple loan solutions through which you can meet all your diverse expenses. Whether it's funding a dream wedding, renovating your home, covering medical emergencies, or taking that long-awaited vacation, a personal loan of ₹8 lakh can cover these expenses without you having to dip into your savings. IDFC FIRST Bank offers FIRSTmoney smart personal loans, through which you can conveniently get a high loan amount of ₹8 lakh. The hassle-free and fully digital process ensures that you get the funds you need quickly and easily, without any tedious paperwork or long waiting times.
FIRSTmoney smart personal loans are an industry-first borrowing solution committed to providing you with the seamless experience of instantly accessing funds. With a FIRSTmoney loan, you only pay EMIs on the withdrawn funds instead of the entire loan offer. With approved loan offers of up to ₹15 lakhs, you can meet your dynamic financial needs and prepay your dues without worrying about any foreclosure charges.
Benefits of a ₹8 lakh personal loan with FIRSTmoney
100% digital journey:
Experience a fully-digital loan process with zero paperwork. Customise your loan according to your financial requirements throughout the application. Simply scan the QR code and get started.
Multiple on-demand loans, single application:
Access funds whenever you need without reapplying for a new loan. With FIRSTmoney, you can borrow exactly what you need from your pre-qualified loan offer and pay interest only on what you use.
Foreclosure benefits:
Want to foreclose your loan? With FIRSTmoney, you can repay your loan in full anytime without incurring foreclosure charges.
Flexible loan repayment options:
Choose a customisable EMI plan that suits your needs. Opt for a repayment tenure ranging from 9 months to 60 months, ensuring you repay your loan without financial stress.
Swift disbursal:
Skip the paperwork and get your loan in minutes! With FIRSTmoney, you can now instantly access up to ₹8 lakh through a fast, seamless, and completely online process.
Personal Loan Eligibility and Documentation
Eligibility criteria for a ₹8 lakh personal loan
FIRSTmoney smart personal loans are available to individuals with a good credit score. Here are the basic eligibility requirements:
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Documents required for a ₹8 Lakh personal loan
With FIRSTmoney smart loans, lengthy documentation is a thing of the past.
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Your monthly EMI projection for a ₹8 lakh personal loan
Planning to take a ₹8 lakh personal loan? Understanding your EMI beforehand can help you manage your monthly finances better. Use a personal loan EMI calculator to instantly check how your EMI changes based on the repayment tenure you choose.
The EMIs below are calculated for an ₹8 lakh personal loan at an interest rate of 9.99% per annum using the reducing balance method, which means interest is charged only on the outstanding loan amount after each repayment. This calculation method reduces your overall interest cost, helping you save more on loan repayments. The following table shows how your EMI varies based on the tenure you select.
| Loan Amount | Interest Rate | Tenure | Approx EMI |
| ₹8,00,000 | 9.99% p.a. | 1 year | ₹70,369 |
| ₹8,00,000 | 9.99% p.a. | 2 years | ₹36,912 |
| ₹8,00,000 | 9.99% p.a. | 3 years | ₹25,810 |
| ₹8,00,000 | 9.99% p.a. | 4 years | ₹20,286 |
| ₹8,00,000 | 9.99% p.a. | 5 years | ₹16,994 |
How to apply for ₹8 lakh personal loan using FIRSTmoney?
Start by scanning the QR code or clicking the loan link from your smartphone.
Register using your mobile number and confirm basic/personal details to check your eligibility.
Select the loan amount of your choice starting from ₹50,000 up to your approved loan amount and choose flexible repayment terms.
Link your bank account where you wish the funds to be disbursed.
Complete the video KYC verification process with your Aadhaar card number and physical PAN card.
Interest Rates & Charges for Personal Loan
Interest Rates & Charges for Personal Loan
Low Interest Rate
Starting from 9.99% p.a
Know more about Personal Loan Interest Rates
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
9 to 60 months
Frequently Asked Questions
How do I apply for a FIRSTmoney loan?
Applying for a FIRSTmoney loan is simple and completely digital. Follow these steps:
1. Scan the QR code or click the loan link from your smartphone.
2. Register using your mobile number and fill in your personal details.
3. Select your loan amount and repayment terms.
4. Link your bank account for disbursement.
5. Complete the video KYC verification with your Aadhaar card number and physical PAN card.
What is the eligibility criteria for a personal loan of ₹8 lakh?
To qualify for a FIRSTmoney loan of ₹8 lakh, you must:
• Be between 21 and 60 years old.
• Have a good credit score, typically 710 and above.
• Be a salaried/self-employed individual with a stable income.
Can self-employed individuals apply for a personal loan worth ₹8 lakh?
Yes, self-employed individuals with a stable income and good credit score of above 73O can apply for an ₹8 lakh personal loan with FIRSTmoney.
Choose your personal loan amount with FIRSTmoney
Different Types of Personal Loan for you
Travel Loan
Why wait for the perfect time for vacation? With a FIRSTmoney smart personal loan, you can enjoy flexible terms and attractive rates while booking premium accommodations and unique experiences. Complete the process entirely online and get your travel plans confirmed instantly—without touching your hard-earned savings.
Emergency Loan
Financial emergencies don’t have to derail your life. With a FIRSTmoney smart personal loan, you can access emergency funds without dipping into your savings or liquidating investments. Explore how our emergency loan ensures financial stability during critical times.
Wedding Loan
Your wedding is one of life’s biggest milestones. Make it memorable without compromising your finances. With a FIRSTmoney smart personal loan, you can cover all wedding expenses easily at affordable costs while keep your investments intact.
Medical Loan
Unexpected medical expenses can strain your savings. A FIRSTmoney smart personal loan provides instant funds, so you can explore all treatment options without compromise. From specialist consultations to alternative therapies, get financial support when you need it the most at affordable rates.
Home Improvement Loan
Thinking about renovating your home but worried about the expenses? A home renovation loan can make your dream home a reality without financial stress. Enjoy the freedom to upgrade your space while keeping your savings intact and repay comfortably in EMIs.
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