What documents are required to apply for a personal loan with FIRSTmoney?

To apply for a personal loan with a salary of ₹60,000, all you need to produce is your PAN card to complete the video KYC process.

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Personal loan for ₹60,000 salary

Q: How long does it take to get the personal loan approved and disbursed?

IDFC FIRST Bank offers a quick approval and disbursal process for FIRSTmoney loans. Once your application is approved, funds can be accessed within minutes, ensuring you have access to money when you need it most.

Get instant digital loans with flexible repayment and zero foreclosure charges

100% digital process with no documentation
Zero foreclosure charges
Competitive interest rates starting from 9.99% p.a.
No collateral required

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Personal Loan EMI Calculator

Loan amount

₹1L ₹15L

Loan term in months

Repay anytime with 0 Foreclosure charges!

9 Months 60 Months

Choose the Interest Rate

Lowest interest rate unlocked!

9.99% 38 %

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

Overview
Benefits
Eligibility
How to apply
Fees & Charges
FAQs
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How to apply for a Personal Loan online with a ₹60,000 monthly income

A monthly salary of ₹60,000 gives you the flexibility to plan ahead, but sudden expenses can still require extra support. IDFC FIRST Bank’s FIRSTmoney personal loan is designed to complement your income with quick, convenient access to funds. Whether you are managing medical costs, funding higher education, or upgrading your home, FIRSTmoney offers competitive interest rates, zero foreclosure charges, and a fully digital application process. With minimal documentation and fast approvals, you can borrow confidently and stay in control of your finances.

Features and Benefits of a Personal Loan on ₹60,000 Salary

100% digital loan

FIRSTmoney provides a fully digital journey with zero paperwork. You can choose the loan as per your financial requirement. Scan the QR code to simply start your application.

Flexible loan repayment

Get the flexibility to choose a customisable loan EMI plan that suits your requirements. Opt for any tenure ranging between two months and 60 months to repay your loan without financial stress.

Foreclosure benefits

Foreclose your loan anytime without concern with FIRSTmoney. You can use the personal loan and repay the used funds in full anytime without incurring a foreclosure charge.

Competitive interest rates

With FIRSTmoney, you enjoy one of the most affordable personal loan interest rates starting at just 9.99% per annum. Lower interest rates help you keep your overall loan cost within your budget and meet your financial needs without hassles.

Swift disbursal

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

Multiple on-demand loan

Get an additional loan for extra financial requirements with just a few taps. FIRSTmoney allows you to apply for additional loans without having to go restart your application from scratch.

What are the eligibility and documentation required for a Personal Loan on ₹60,000 salary

Personal Loan Eligibility

To apply for a personal loan from IDFC FIRST Bank, make sure you meet these –

Age: Between 21 to 60 years
CIBIL Score: A score of 710 or higher
Occupation: Salaried or self-employed, with a stable monthly income

Personal Loan Documents Required

No uploads are part of the online journey. Keep handy –

Aadhaar and PAN number for application
Physical PAN card to be displayed during the video KYC
You don’t need to upload any documents during the application process.

How to Apply for a Personal Loan on ₹60,000 Salary

Step 1

Click on apply now via website or app

Step 2

Step 3

Choose your loan preferences, including the loan amount and EMI plan

Step 4

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

Step 5

Complete the video KYC verification process by showing your physical PAN card

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What are the loan amount and tenure options

Loan Amount

For individuals earning ₹60,000 per month, personal loans are available in amounts ranging from ₹10,000 to ₹15 lakhs. The approved loan offer depends on the bank’s internal policy and your credit profile.

Flexible Tenure Options

You can choose a repayment tenure that ranges from 9 months to 60 months. This flexibility allows you to structure your repayment schedule as per your convenience.

What is the EMI for personal loan with ₹60,000 salary

The bank uses the reducing balance method to calculate the EMI for a personal loan through FIRSTmoney. This technique determines the 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.

For easy calculation of your EMIs, consider using a personal loan EMI calculator. Simply adjust the slider to input the following details: the loan amount, interest rate, and tenure. You can also determine a repayment figure for a different amount that aligns comfortably with your financial capacity.

Loan Amount (₹)	Interest Rate (p.a)	Tenure	Approx EMI (₹)
₹1,00,000	9.99%	5 years	₹ 2,124
₹2,00,000	9.99%	5 years	₹ 4,248
₹3,00,000	9.99%	5 years	₹ 6,373
₹4,00,000	9.99%	5 years	₹ 8,497
₹5,00,000	9.99%	5 years	₹ 10,621
₹6,00,000	9.99%	5 years	₹ 12,745
₹7,00,000	9.99%	5 years	₹ 14,869
₹8,00,000	9.99%	5 years	₹ 16,994
₹9,00,000	9.99%	5 years	₹ 19,118
₹10,00,000	9.99%	5 years	₹ 21,242
₹11,00,000	9.99%	5 years	₹ 23,366
₹12,00,000	9.99%	5 years	₹ 25,491
₹13,00,000	9.99%	5 years	₹ 27,615
₹14,00,000	9.99%	5 years	₹ 29,739
₹15,00,000	9.99%	5 years	₹ 31,863

Do’s and Don’ts for a personal loan on ₹60,000 salary

Do's

Plan finances before you apply for a loan on ₹60,000 salary
Choose a suitable tenure where you can comfortably pay your EMIs with ₹60K as your salary
Understand fees and repayment conditions
Ensure your EMIs do not cross 20-30% of monthly income
Maintain timely and consistent repayments

Don’ts

Avoid going for a loan amount too high for your financial situation
Do not take a personal loan for unnecessary spendings
Avoid ignoring your credit score
Do not make multiple loan applications
Avoid EMI defaults

Things to know about a personal loan on ₹60,000 salary

Processing fees & charges

Review all charges in advance. FIRSTmoney provides zero processing fee on certain loan amounts and zero foreclosure fees, offering transparent pricing.

Eligibility criteria

To apply for an online loan on a salary of ₹60,000 via FIRSTmoney, the applicant needs to ensure a strong credit score of 710 or more and needs to be between the ages of 21 and 60 years.

Interest rates

The interest rates impact the total borrowing cost. FIRSTmoney offers competitive rates starting from 9.99% p.a.

Easy loan comparison

Compare available loan options to make an informed decision. FIRSTmoney simplifies this process with clear upfront information on the website and mobile app.

Better financial planning

With a salary of ₹60,000, a longer tenure option may help efficiently manage higher loan amounts. Choose a flexible loan option to optimise your EMI payments.

Tips to smartly use your Personal Loan

Tip 1

Avoid excess borrowing

Borrow only what aligns with your financial goals, keeping your salary and other expenses in mind.

Tip 2

Ensure timely repayments

Timely EMIs help maintain a strong credit score and future eligibility.

Tip 3

Keep your finances organised

Track expenses and EMIs repayments for better financial control.

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Interest Rates & Charges for Personal Loan

Low Interest Rate

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

Range: 9 to 60 months

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Frequently Asked Questions

What is the maximum loan amount I can get with a salary of ₹60,000?

With IDFC FIRST Bank’s FIRSTmoney, you can get a loan offer of up to ₹15 lakhs based on your eligibility. The final loan amount depends on various factors such as your credit score and repayment capacity. Use the personal loan eligibility calculator to get a tentative loan amount estimate.

How do I apply for a personal loan online with FIRSTmoney?

Applying for a personal loan with FIRSTmoney is easy and convenient. Simply visit the IDFC FIRST Bank website or mobile app, and click on Apply Now to get started. The application can be completed in as little as 5 minutes.