Every financially savvy person has one piece of advice to give – set up a second source of income. Most people fail to follow this advice because they simply do not know how to do it. However, referral apps like IDFC FIRST Bank’s MyFIRST Partner app are making it easy to earn additional income. In fact, the MyFIRST Partner app is one of the best Android apps for money-earning purposes in the country.
It is a personal loan partner program that allows any person – students, homemakers, retired individuals, and more – to refer their contacts for personal loans and earn money on disbursals. But that is just one part of how the MyFIRST Partner app is helping people. The second part is that it makes personal loans easily accessible for those in need of funding.
Let us look at why the MyFIRST Partner app is quickly becoming one of the go-to referral apps for people looking to earn passive income.
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1. Trusted, high-paying referral program
People are usually sceptical of referral apps that promise to earn you exorbitant amounts of money. But when a leading bank like IDFC FIRST Bank comes up with a transparent loan referral program, it is easy to benefit from it. The MyFIRST Partner app allows users to earn as much as ₹50,000 per month through its straightforward process.
You simply need to download the app, register yourself, and help people around you get the loans they need. You get weekly payouts directly in your bank account and earn a flat 1.5% fee on the disbursal amount of every loan you referred.
The eligibility criteria for the MyFIRST Partner refer and earn app is basic and hence very inclusive. Whether you are a college student, someone between jobs, a nifty homemaker, a retired individual, or even an employed person looking to set up a second source of income, you can register as long as you are:
- An Indian citizen
- Above the age of 18
- Have a savings bank account
There is also no investment required to get started, and neither is there a lengthy documentation process. All you need is your Aadhaar and PAN card.
2. Accessible funding for various purposes
How often have you come across a family member, friend, or neighbour who needs money for something important such as a medical emergency or education? Even if you wanted to help them, it might not have been financially feasible for you. However, with IDFC FIRST Bank’s unsecured loan affiliate program, you can now help every person in need of funds.
Your referrals can avail of quick personal loans with minimal documentation of between ₹20,000 and ₹40 lakhs. According to their preference, the tenure can be anywhere between six months and 60 months. These loans begin at a competitive interest rate of 11%. Here are all the reasons for which you can refer your contacts for a loan:
- Weddings
- Education
- Holidays
- Medical expenses
- Home renovation
- Urgent cash requirements
One of the best parts about this program is that since it offers personal loans, there is no need of providing any security or collateral to avail the loan. Those who need funds to fulfil particular needs or meet specific goals can quickly get them.
So, the MyFIRST Partner program is one of the most popular referral apps because it is designed in a way that helps you earn a regular income and assist those around you get funding.