How much money can you earn from refer and earn apps?
An additional income is a priority for most of us. While taking up a passion or hobby and monetising it in your free time is the first thing one looks to, it requires a lot of effort. Refer and earn programs are better as they offer flexibility and do not eat into your schedule. In this article, we’ll look at IDFC FIRST Bank’s refer and earn program, its eligibility criteria, and why you must sign up for IDFC FIRST Bank’s refer and earn app if you want to generate extra income.
What is the MyFIRST Partner app?
The MyFIRST Partner app is IDFC FIRST Bank’s refer and earn app that helps you make extra money by referring personal loans to your friends, family, and acquaintances. Registering for the referral program can build an additional income stream by leveraging your network and helping people get personal loans. This additional income can be earned with ₹0 investment through the refer and earn app.
How does the MyFIRST Partner app work?
As a first step, you need to download and install IDFC FIRST Bank’s MyFIRST Partner refer and earn app. Next, you must register using your PAN (Permanent Account Number), address proof such as Aadhaar, and bank account details.
As a third step, you can sign-up on the app and get your digital ID instantly to start referring people to IDFC FIRST Bank for personal loans. Once the loan is disbursed successfully by IDFC FIRST Bank, you will receive compensation from IDFC FIRST Bank directly to your bank account, which shall also be reflected in the refer and earn app.
What makes IDFC FIRST Bank’s personal loans special?
IDFC FIRST Bank’s personal loans are offered at competitive interest rates starting at 10.49%. A borrower also receives the option of making up to 40% of part payment. In addition, a borrower can also avail themselves of a top-up facility. Furthermore, the tenure of personal loans disbursed by IDFC FIRST Bank can range from 6 months to 60 months. To get a better idea of whether you want to opt for a personal loan, you can also consult our personal loan EMI calculator before applying.
Who is eligible to sign up for the referral program?
An individual who wishes to sign up for the referral program through the MyFIRST Partner app must fulfil three basic eligibility criteria:
- The individual must be an Indian citizen.
- They must be at least 18 years old.
- They must have a savings account with any Indian bank.
Hence, everyone, from students pursuing their under-graduation to working professionals, can sign up for this referral program. It also includes individuals who are not employed. While this is a golden opportunity for real estate, insurance, travel, and sales agents, individuals with a relatively smaller social network can also earn well from this app. IDFC FIRST Bank’s MyFIRST Partner app can help an individual earn over ₹50,000 per month by leveraging their network.
If you wish to earn through the refer and earn app but still do not have a bank account, you can consider opening a savings account with IDFC FIRST Bank to benefit from the many offers.