A loan partner in India can refer to a personal loan to earn a commission. It is like a second income opportunity to boost your financial standing. This is known as affiliate marketing which is typically organised by banks. Graduates, sales person, financial advisors, real estate agents and housewives looking to make a passive income can participate in the program. You have the chance to earn via an app on every successful loan referral. There is no upper limit- earn as much as you can. The income is variable since it depends on the referrals. Read on to learn how to become a loan agent.
Alternate Career as a Loan Partner
The process of sign-up takes less than 5 minutes. The eligibility criteria are simple – you must be an Indian citizen above the age of 18 with a bank account. If you a good fit, follow the below steps to become a loan partner in India:
Step 1: Download the IDFC FIRST Bank MyFIRST Partner App
Step 2: Upload using PAN, address proof and bank account details.
Step 3: Verify an OTP sent to your phone number.
Step 4: Register and receive your digital ID.
Use this unique ID to track your case. It helps you to stay well-informed and updated about the progress of the loan disbursal. IDFC FIRST Bank offers 1.5% of the personal loan amount disbursed as an incentive. It helps you earn ₹50,000+ per month. Additionally, you can also refer to a used car loan, business loan, loan against property and a savings account. Altogether, you can accumulate above ₹1lakh per month. This is sent directly to your bank account on a weekly basis. There is 30-day or 60-day wait period for this personal loan affiliate program.
Benefits of a Referral Service
You can refer to a personal loan between ₹20,000 and ₹40 lakhs for a tenure between 6 months and 60 months. The terms and conditions are quite flexible. You have to look for people who need quick cash. The loan is available to fund weddings, travel plans, education, medical treatment, home renovation or big purchases. The loan starts from a low amount so it can also be used to pay utility bills, rent, car or student loans EMIs or insurance premiums. So, convincing potential borrowers may not be difficult. See the other benefits:
- A relationship manager and client acquisition support are available to help with anything regarding this personal loan affiliate program in India. They also provide business development opportunities, training and guidance.
- There are no deadlines for this work. You can do it at your convenience without any micromanagement from the bank. Know that the income will depend on the amount of time and effort you are willing to invest.
- The best part of becoming a loan agent is that it does not require any investment. You also do not need any membership, registration or renewal charges. This makes the loan program better than other money-making apps.
IDFC First Bank offers the highest-paying referral app. It is safe, genuine and ideal for your secondary income needs. You can instantly start referring after signing up.