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Small Personal Loans - Get Instant Approval Online with FIRSTmoney
Get Instantly Approved Small Personal Loans
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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
Why FIRSTmoney is the Best Way to Get a Small Loan Online
Small loans are also called short-term loans. They are unsecured personal loans of limited amounts that borrowers can use to meet their small capital needs. Small loans are easily accessible, while borrowers also benefit from easy repayment terms. You can apply for a small loan to manage short-term financial needs without hassle.
The interest rate is another attractive feature of small instant loans. Banks charge an affordable interest rate, making it easy for borrowers to clear their payments. A healthy credit score can help borrowers get even better terms, including a lower interest rate.
What is a Small Personal Loan and How Does It Work?
FIRSTmoney is an innovative way to acquire a quick small loan at competitive interest rates within minutes. With FIRSTmoney, you can get small loans of up to ₹15 lakhs to meet any type of financial obligation. If you plan to apply for a personal loan, this option offers flexibility and quick access to funds.
What makes it unique is the zero foreclosure charges, which allow you to repay your loan without any foreclosure charges. You can also choose a flexible tenure ranging from 9 months to 60 months to conveniently repay your personal loan in instalments.
Key Features & Benefits of a Small Amount Personal Loan
Quick Approvals
Need funds urgently? FIRSTmoney delivers. Get instant loan approval and fast disbursal through a digital process designed to meet your financial needs.
Multiple On-Demand Loans
FIRSTmoney gives you the option to get additional funds for new expenses with just a single application, offering flexibility that aligns with your financial journey.
Competitive Interest Rates
FIRSTmoney offers attractive interest rates starting at 9.99% p.a., ensuring your monthly payments stay manageable and your loan stays within budget.
Flexible Repayment Tenures
FIRSTmoney offers flexible repayment options between 9 to 60 months. Whether you prefer shorter commitments or lower EMIs, the choice is all yours.
No Guarantor Needed
If your credit score is 710+ and you fulfil the eligibility parameters, the small personal loan is sanctioned to your account.
Foreclosure Benefits
You shouldn’t be penalised for paying early. FIRSTmoney lets you foreclose your loan at any time without extra charges. It’s a smarter way to close your loan faster and save more.
No collateral required
Get an unsecured personal loan without pledging your property or other assets as security, making borrowing simpler and more convenient.
Small Personal Loan EMI Calculator: Amount-wise & Tenure-wise Breakdown
Check Your Approximate EMI for a Small Loan
Even on smaller loan amounts, it's worth knowing your EMI upfront. Refer to the table below for a quick estimate.
| Loan Amount | Tenure | Interest Rate | Processing Fees | Approx EMI |
| 1 Lakh | 24 Months | 9.99% p.a. | 0% to 3.5% | ₹ 4,614 |
| 2 Lakh | ₹ 9,228 | |||
| 3 Lakh | ₹ 13,842 | |||
| 4 Lakh | ₹ 18,456 | |||
| 5 Lakh | ₹ 23,070 | |||
| 1 Lakh | 36 Months | ₹ 3,226 | ||
| 2 Lakh | ₹ 6,452 | |||
| 3 Lakh | ₹ 9,679 | |||
| 4 Lakh | ₹ 12,905 | |||
| 5 Lakh | ₹ 16,131 | |||
| 1 Lakh | 48 Months | ₹ 2,536 | ||
| 2 Lakh | ₹ 5,072 | |||
| 3 Lakh | ₹ 7,607 | |||
| 4 Lakh | ₹ 10,143 | |||
| 5 Lakh | ₹ 12,679 | |||
| 1 Lakh | 60 Months | ₹ 2,124 | ||
| 2 Lakh | ₹ 4,248 | |||
| 3 Lakh | ₹ 6,373 | |||
| 4 Lakh | ₹ 8,497 | |||
| 5 Lakh | ₹ 10,621 |
Who Can Apply for a Small Loan Online? Eligibility & Docs
Personal Loan Eligibility
Applicants must meet the following personal loan eligibility criteria to apply for an IDFC FIRST Bank personal loan
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Personal Loan Documents Required
You don’t have to upload documents. Keep the essentials ready –
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Wondering how much you can borrow? Use our personal loan eligibility calculator to find out.
How Does Repayment Work for a Small Personal Loan?
Repaying small personal loans is easy. The repayment plans are flexible so that you can clear the debt affordably. IDFC FIRST Bank FIRSTmoney offers a flexible repayment tenure starting from two months and going up to five years. You can choose your EMI date and repayment amount and pay off what you borrow in the most convenient way, without hurting your finances.
Rate of Interest on Small Credit Loans
Check out the table below to know the interest and the charges associated with FIRSTmoney:
| Types of Fees | Applicable Charges |
| Personal loan interest rate | Interest rate starts from 9.99% p.a., calculated on a reducing balance basis. |
| Processing fees | Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts) |
| Late payment fees | 2% of the unpaid EMI |
| Stamping Charges | As per actuals |
| Foreclosure charges | Nil |
| EMI bounce charges | EMI Bounce Charges 7.5% of the EMI/ Outstanding amount (minimum ₹ 400 & maximum ₹ 1000) |
| Cheque or mandate swap charges | ₹500 |
| EMI pickup or collection charges | ₹500 |
| Physical statement of account / Repayment schedule | ₹50 |
Interest rate range for Small Loan
The interest rates on small loans can vary depending on several factors such as the borrower's credit score, the amount borrowed, and the loan tenure. Small loans from FIRSTmoney have a reducing interest rate starting at 9.99% p.a.
Service Charges for Small Loan
Service fees may be charged by lenders on top of interest rates on small loans. These include charges like processing or application fees. To get the best deal possible, compare service charges by different lenders so that you can determine the most economical provider.
Calculate your small loan interest rate
IDFC FIRST Bank has an online personal loan calculator that you can use to check your monthly EMI payable for FIRSTmoney. The EMI calculator has three parts: loan amount, tenure, and rate of interest. You can use it by entering the loan amount, the applicable personal loan interest rate, and the tenure for which you want the loan. Once you enter these details, the calculator will give you the EMI. Check it out here.
How to Apply for a Small Loan Online in Minutes
Step 1
Click on ‘Apply Now’
Step 2
Register using your basic details
Step 3
Choose your loan preferences including amount and EMI plan
Step 4
Link your bank account where you want to receive the funds
Step 5
Complete video KYC by showing your PAN card
2.64 Million+ Happy Users and Top App Ratings
How Can a Small Cash Loan Help You in a Financial Crunch?
Here are some ways in which a small loan can help you -
● Supplementing savings
A small loan can supplement your savings, if they are limited, and help you meet your financial obligations easily.
● Multipurpose
Small loans are multipurpose. You can use them for any personal or business-related need without any restrictions.
● Greater flexibility
With FIRSTmoney, you enjoy greater flexibility to acquire extra funds with just a few clicks to meet your additional financial requirements.
● Instant disbursements
With a small personal loan at your disposal, you don’t have to put off your desires for later. You can buy of fulfil your needs instantly, whether it is taking a trip or buying a home appliance.
Small Personal Loan - Interest Rates & Charges Explained
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
Repayment span: 9–60 months
Do’s and Don’ts for a Small Loans
Do's
- Review loan terms carefully before applying
- Select an EMI that fits your monthly budget
- Maintain timely repayments to build credit discipline
- Check eligibility before starting the application
- Apply digitally for faster processing
Don’ts
- Do not calculate your affordability only on the basis of EMI
- Avoid ignoring your credit profile
- Do not take the help of short-term loans too frequently
- Avoid errors while filling application details
- Do not borrow without a repayment plan
Things to know about Small Loans
Eligibility Criteria
FIRSTmoney personal loans are available to individuals with a minimum salary of ₹10,000 and a CIBIL score of 710 or above.
Processing fees & charges
Loan costs include interest and applicable charges. FIRSTmoney follows a transparent structure to help borrowers plan better.
Interest rates
Both EMI and overall repayment capacity is influenced by interest rates. FIRSTmoney offers competitive rates starting from 9.99% p.a.
Easy loan comparison
Comparing different loan options can help in selecting suitable terms. FIRSTmoney provides clear details and conditions.
Better financial planning
Flexible repayment tenure up to 60 months helps balance EMIs and manage financial commitments.
Tips to smartly use your Small Loans
Tip 1
Plan repayments in advance
Ensure your budget can handle EMIs throughout the loan tenure to prevent financial strain in the future.
Tip 2
Avoid unnecessary borrowing
Take only the amount that you require to reduce the interest burden.
Tip 3
Maintain credit discipline
Consistent EMI payments can help you build a strong credit profile.
FAQs on Small Personal Loans Online
Is a credit check done?
A small loan is like any other loan where you seek credit from a lender. So, your credit score is checked and based on it, the loan is sanctioned.
How do I send my bank statement and other documents?
FIRSTmoney doesn’t require your bank statements and other documents for sanctioning the line of credit. All you need to do is upload your PAN card for VKYC when you apply for the small loan online.
How soon will the small loan get approved?
With IDFC FIRST Bank FIRSTmoney, the loan approval doesn’t take time. With a digital process, you can get the small loan online within minutes.
In which cities does IDFC FIRST Bank operate?
IDFC FIRST Bank has branches in 580 cities of India, including Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. Plus, with FIRSTmoney, you can apply for the loan online and get it in any city in the country.
What are small personal loans for?
Small personal loans are multipurpose loans. The funds can address both personal and professional financial needs. Even business owners and entrepreneurs can get a small personal loan to cover their working capital needs.
Choose your personal loan amount with FIRSTmoney
Different Types of Personal Loan for you
Travel Loan
Your dream vacation shouldn’t have to wait, and with a FIRSTmoney travel personal loan, it doesn’t have to. Whether you're planning a romantic escape, a solo backpacking trip, or a family holiday, this loan helps you book flights, hotels, and experiences without worrying about upfront costs. With minimal documentation, flexible tenures, and competitive rates, you can focus on packing your bags while we handle the finances.
Emergency Loan
When you face the unexpected, a FIRSTmoney emergency personal loan helps you bounce back with confidence. Whether it’s a sudden medical need, urgent repairs, or any unplanned expense, our smart loan offers instant relief without paperwork stress. Quick processing, no hidden charges, and flexible EMIs make it your financial cushion when life throws a curveball.
Wedding Loan
Don’t let budget limits overshadow your big day! With a FIRSTmoney wedding personal loan, celebrate without compromise. Cover everything from designer wear and photo shoots to venue decor and guest stays without exhausting your funds. Our loans are crafted for couples seeking financial flexibility and a smooth planning journey, so your focus should be on creating memories that last.
Medical Loan
Focus on healing, not worrying about your hospital bills. A FIRSTmoney medical personal loan gives you the immediate financial support needed during health emergencies. Whether it’s surgery, treatment, or therapy, access funds quickly with our fully digital process and stress-free approvals. No collateral, no waiting – just help when you need it most.
Home Improvement Loan
Turn your renovation plans into reality with a FIRSTmoney home improvement personal loan. Whether you're adding a modular kitchen, redoing your flooring, or furnishing your space, this loan helps you bring your vision to life without compromising your savings. Benefit from fast approvals, easy EMIs, and the freedom to enhance your home, your way.Personal Loan Tips & Insights: Your Guide to Smarter Borrowing
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