The first step to clear your debt is paying more than the regularEMI. For this, you may have to use your savings if there is not enough money to spare. But this is not a feasible idea since other milestones like a wedding and higher education can be impaired. Considering a second incomeisa greatideayet it requires you to work actively within set hours. This may become stressful or even harder than your primary job.

The good news is that you can become a loan agent with thebest financial affiliate program. The IDFC FIRST Bank MyFIRSTPartner Program is a passive side hustle to earn money from home without high-end skill sets or expertise. Read on to learn more.

Earn Money by Referring

The IDFC FIRST Bank MyFIRSTPartner Program is designed to help you earn as high as ₹50,000 or more simply by referring to a personal loan. The bank offers a flat 1.5% per disbursal which is sent to your bank account weekly. This is a convenient source of income which requires no monitoring. You can refer the loan to people with absolutely zero investment which makes it ideal in a debt-ridden situation.

All it takes is a smartphone and a steady internet connection to participate. Follow a few basic steps to sign-up for the program under 5minutes. The onboarding process can be completed by uploading the images of PAN card, Aadhaar card and chequebook of any Indian bank on the IDFC FIRST Bank MyFIRST Partner App.

Get paid for referrals each time a loan is sanctioned. This helps you raise some extra money that you can put towards your EMI to clear an existing debt.

How to Become a MyFIRST Partner?

Follow these steps after downloading the app:

Step 1: Upload your photo and required documents like address proof.
Step 2: Enter bank account details to receive the payouts.
Step 3: Verify the OTP.

Track the status of your referral cases on the app to stay well-informed.Know that there is no cap on the upper limit of the earnings. Consistent effort and patience can help you accumulate big amounts over time.

How to Ensure a Successful Referral?

Filter your target audience first. This can be a colleague who is planning a home renovation, a friend who wants to buy a bike or a sibling who wishes to enrol in their dream college. Now highlight the exciting features of the personal loan.These are:

  • flexible terms
  • low interest rates and
  • minimum and maximum loan amounts.

Polish your convincing skills and persuade them to consider it. Offer to help them in the nitty-gritty like filling out the form and document verification.Further, you can combine the personal loan referral with an insurance referral to create an attractive deal. All of these can encourage someone to go ahead and take out a loan.

The best financial affiliate program also offers cash prizes for outstanding performance at zonal, regional and national levels. This money can also be helpful in clearing the debt. You can use a portion of the amount to clear the loan prepayment penalties, if any.  So, go ahead and join the IDFC FIRST Bank MyFIRSTPartner Program today.