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Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Unsecured loans up to ₹15 lakhs
Get quick access to funds for personal financial needs with flexible repayment.
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Unsecured Loans 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
What is an unsecured loan?
An unsecured loan is a type of personal loan that does not require collateral or the pledging of assets for approval. You can access funds based on factors like income, repayment capacity, employment profile, and credit score. Unsecured loans are commonly used for medical emergencies, travel, weddings, education, debt consolidation, home renovation, and personal financial needs. FIRSTmoney by IDFC FIRST Bank offers unsecured personal loans via a completely digital process, flexible tenures from 9 to 60 months, and competitive interest rates starting from 9.99% p.a.
What are the benefits of unsecured loans?
Competitive interest rates
FIRSTmoney by IDFC FIRST Bank offers interest rates starting from just 9.99% p.a. on a reducing balance basis, helping borrowers manage repayments comfortably.
Zero foreclosure charges
You can repay your loan early without paying any foreclosure penalties, helping reduce overall interest burden.
100% digital application
The complete application process is fully digital. There is no need to upload any documents during the application process or do any branch visits. You just need your PAN and Aadhaar numbers during application and original PAN during video KYC.
Instant disbursal
You can receive quick approvals and access to funds in as little as 10 minutes with digital loans like FIRSTmoney by IDFC FIRST Bank.
Flexible repayment tenure
You can choose flexible repayment tenures ranging from 9 months to 60 months, according to your financial situation.
Flexible loan amount
FIRSTmoney by IDFC FIRST Bank offers loan amounts ranging from ₹50,000 to ₹15 lakhs in order to support different financial requirements.
What can an unsecured loan be used for?
An unsecured loan can be used for a wide range of personal and household financial needs. Since no collateral is involved, funds can be directed to both planned and unplanned expenses.
• Medical expenses: Covers hospitalisation costs, surgical procedures, post-operative care, and treatment-related expenses that arise without prior notice
• Home renovation: Funds tiling, flooring, painting, addition of rooms, balcony or terrace maintenance, and other improvement work
• Wedding expenses: Meets costs related to venue booking, catering, event management, and other wedding-related expenses
• Travel: Supports domestic and international travel plans, including flight bookings, accommodation, and itinerary-related costs
• Education: Assists with tuition fees, examination costs, course materials, or short-term upskilling programs
• Debt consolidation: Enables repayment of existing loans or outstanding credit card dues by consolidating multiple obligations into a single, structured EMI
• Consumer purchases: Covers the cost of appliances, electronics, or other high-value personal purchases
Eligibility criteria required for unsecured loans
Unsecured loans eligibility
To apply for a personal loan from FIRSTmoney by IDFC FIRST Bank, borrowers must meet the following personal loan eligibility criteria:
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Required documents for unsecured loans
FIRSTmoney by IDFC FIRST Bank simplifies the documentation process significantly.
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How do unsecured loans work?
Unsecured loans are approved without requiring collateral such as property, gold, or investments. Lenders evaluate factors like income, age, employment profile, repayment capacity, and credit score before approving the loan. Once approved, the loan amount is disbursed directly into the borrower’s bank account, and repayments are made through fixed monthly EMIs over the selected tenure. FIRSTmoney by IDFC FIRST Bank simplifies this journey with a fully digital application process, flexible tenures, and instant disbursal for eligible borrowers.
Loan amount & tenure offered
| Feature | Details |
| Loan Amount | ₹50,000 to ₹15 lakhs |
| Loan Tenure | 9 months to 60 months |
| Repayment Flexibility | Flexible tenure ranging from 9 to 60 months |
| Additional Funding Support | Multiple on-demand loan with just a few taps |
Unsecured loan interest rate & charges
Understanding charges and repayment structures helps borrowers plan finances more efficiently.| Charges & Fees | Details |
| Interest Rate | Starting from 9.99% p.a. |
| Processing Fee | Starting at 0% for select loan amounts |
| Foreclosure charges | Zero |
FIRSTmoney by IDFC FIRST Bank maintains transparent pricing to help borrowers make informed financial decisions.
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 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
Factors that affect unsecured loan approval
An unsecured loan can be used for a wide range of personal and household financial needs. Since no collateral is involved, funds can be directed to both planned and unplanned expenses.
• Employment profile: Both salaried individuals and self-employed professionals are eligible.
• Credit score: A CIBIL score of 710 or above is required for salaried applicants; self-employed applicants require a score of 760 or above. Scores below these thresholds may result in a higher interest rate or a reduced sanctioned amount
• Income stability: Regular, verifiable income is assessed to determine repayment capacity. Eligibility is evaluated based on income type, consistency, and overall financial profile rather than a fixed income threshold
• Existing debt obligations: Active loan EMIs and credit card dues are evaluated against monthly income. Keeping total EMI outflows below 50% of income improves approval prospects
Why choose FIRSTmoney by IDFC FIRST Bank for unsecured loans?
FIRSTmoney by IDFC FIRST Bank is designed to support modern borrowers with convenience, flexibility, and smarter financial management.
Smart cash flow management
Manage planned and unexpected expenses without disturbing your long-term savings.
No documentation
The digital application process eliminates paperwork and branch visits.
The ‘zero’ promise
Repay your loan anytime without any foreclosure penalties whenever you wish to.
Funds on tap
You can access additional funds from an approved loan offer without submitting a new loan application.
Capital preservation
Preserve emergency savings and investments during major expenses or financial emergencies.
Higher loan amount offer
Borrowers can access loan amounts up to ₹15 lakhs according to eligibility and financial requirements. By securely linking bank accounts through Account Aggregator, applicants may unlock higher personalised loan offers with a smoother assessment process.
Our App Ratings from 2.64M+ happy users
Secured vs unsecured loan: Key differences
Understanding the difference between secured and unsecured loans helps borrowers choose the right financing option.
| Feature | Secured Loan | Unsecured Loan |
| Collateral Requirement | Asset pledge required | No collateral required |
| Approval Basis | Asset value + income profile | Income and credit profile |
| Processing Time | Usually longer | Generally faster |
| Risk for Borrower | Asset may be at risk | No asset risk |
| Loan Usage | Often purpose-specific | Flexible end-use |
| Documentation | More extensive | Simplified digital process |
| Suitable For | High-value borrowing | Personal financial needs |
Prefer managing your loan on the go? Download the IDFC FIRST Bank mobile app and track your loan journey easily.
Unsecured Fees and charges
Unsecured Fees and charges
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 tenures
Choose between 9 and 60 months
Do’s and don’ts of Unsecured Personal Loans
Do's
- Review your monthly expenses carefully before applying for a loan
- Use digital options like FIRSTmoney by IDFC FIRST Bank for a faster and smoother process
- Compare EMI options and choose a suitable repayment tenure
- Maintain a healthy credit score for better approval chances
- Understand interest rates, processing fees, and repayment terms carefully
Don’ts
- Avoid borrowing amounts beyond repayment capacity
- Do not use unsecured loans for unnecessary luxury purchases
- Avoid missing EMIs as it impacts credit history negatively
- Do not submit multiple loan applications simultaneously
- Avoid ignoring loan terms and repayment obligations
Important things to know about unsecured personal loans
Processing fees & charges
Always look for fees and charges when applying. FIRSTmoney by IDFC FIRST Bank offers transparent pricing with processing fees starting at 0% (on select loan amounts) and zero foreclosure charges.
Eligibility criteria
Maintaining stable income, repayment capacity, and a CIBIL score of 750 or above, improves possibilities of loan approval.
Interest rates
Interest rates directly impact affordability. FIRSTmoney by IDFC FIRST Bank offers competitive rates starting from 9.99% p.a.
Easy loan comparison
You should compare tenure, EMI structure, charges, and repayment flexibility before selecting a loan.
Better financial planning
Flexible repayment tenures help borrowers manage EMIs alongside regular monthly expenses more comfortably.
Tips to smartly use your Unsecure Loan
Tip 1
Borrow only what you need
Choose a loan amount according to actual financial requirements, in order to keep EMIs manageable and avoid unnecessary debt burden.
Tip 2
Maintain timely EMI payments
Regular EMI payments help maintain a healthy credit profile and improve future borrowing opportunities.
Tip 3
Choose a comfortable tenure
Select a repayment tenure that balances affordable EMIs with manageable overall interest costs.
Tip 4
4 Use loans for productive financial needs
Prioritise essential requirements such as emergencies, debt management, education, or planned goals over impulse spending.
Understanding Unsecured Loans: FAQs
What is an unsecured loan?
An unsecured loan does not require collateral such as property, gold, or investments for approval. The lender evaluates your eligibility based on factors like income, employment profile, repayment capacity, and credit score. Unsecured loans are commonly used for medical emergencies, travel, weddings, home renovation, debt consolidation, education, and other personal financial needs.
FIRSTmoney by IDFC FIRST Bank offers unsecured personal loans with competitive interest rates, flexible repayment tenures, and a completely digital application process.
How does an unsecured loan work?
In an unsecured loan, borrowers apply based on their financial profile, instead of pledging assets. Once the application is submitted, the lender reviews eligibility criteria such as age, income, occupation, and credit score. If approved, the loan amount is disbursed directly into the borrower’s bank account. The borrower then repays the amount through fixed EMIs over the selected tenure.
Do unsecured loans require collateral?
No, unsecured loans do not require collateral or security. Borrowers are not required to pledge assets like property, fixed deposits, or gold to obtain the loan.
What is the interest rate for unsecured loans?
Interest rates for unsecured loans vary depending on the borrower’s profile, repayment capacity, credit score, and lender policies. FIRSTmoney by IDFC FIRST Bank offers competitive interest rates starting from 9.99% p.a. on a reducing balance basis.
What is the maximum loan amount available for unsecured loans?
The maximum loan amount depends on eligibility, income profile, and lender policies. FIRSTmoney by IDFC FIRST Bank offers loan amounts ranging from ₹50,000 to ₹15 lakhs for eligible borrowers.
Choose your personal loan amount with FIRSTmoney
What are the types of unsecured loans?
Personal loans
General-purpose personal loans help manage planned and unplanned financial expenses conveniently.
Medical loans
Medical unsecured loans are useful for hospitalisation, surgeries, dental treatments, and emergency healthcare expenses.
Travel Loan
Travel loans help borrowers fund domestic vacations, international trips, honeymoon planning, and family holidays.
Wedding Loan
Wedding loans support expenses related to venue booking, jewellery, décor, catering, photography, and family functions.
Education loans
Unsecured education-related loans can help manage tuition fees, certification courses, and skill development programmes.
Debt consolidation loans
These loans combine multiple outstanding liabilities into one structured repayment plan for better financial management.
Emergency Loan
Emergency unsecured loans provide quick access to funds during temporary financial crises or urgent situations.
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