How to Make Money with Personal Loan Referral Programs in India

Referral bonuses and cashbacks offered by fintech lenders present a rewarding opportunity for Indian consumers. You can now earn thousands of rupees for simply referring your contacts to apply for personal loans. Read on to learn how referral programs work and tips to maximize your earnings.

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Introduction to Personal Loan Referral Programs

Many digital lending platforms and apps like MoneyTap, EarlySalary, KreditBee, PaySense, and Lendingkart have started referral schemes. Under this, when someone signs up using your referral code or link and gets a loan approved, you can earn cash rewards between ₹500 to ₹15,000 per successful referral.

IDFC FIRST Bank’s MyFIRST Partner Program is a referral program that enables individuals to earn significant income by referring friends and family to apply for personal loans. As a MyFIRST Partner, you can earn cash rewards for every successful referral, providing you with an additional source of income.

How Do Referral Bonuses Work?

The process of earning bonuses through a loan referral program is simple:

1. Select a Lender: Compare and choose a lender offering attractive bonuses for referrals.

2. Get Referral Link/Code: Sign up and get a unique referral code or link from the lender’s app or website.

3. Share and Promote: Endorse this code among family and friends via WhatsApp, SMS, email, social media.

4. Earn Reward: Get the cash bonus directly in your bank account when someone uses your code and gets the loan approved.

5. Track Progress: Monitor your referrals and bonus earnings in the lender’s app or portal. Look for the best referral app to make money online.

Maximizing Your Earnings from Referrals

Follow these tips and strategies for higher referral income:

  • Share within relevant WhatsApp and Telegram groups to get more traction.
  • Highlight urgency or limited period offers to motivate quick action.
  • Focus on eligible borrowers who are more likely to get approved.
  • Ask satisfied customers to provide testimonials and reviews.
  • Respond promptly to queries about the loan products or lender.
  • Track referrals with UTM links to gauge performance.
  • Put up posts regularly on social media and community forums.
  • Send reminders to contacts about referral codes via email or DM.

Reasons to Choose MyFirst Partner (IDFC FIRST Bank Limited) – Refer Loan and Earn Money App

Here are some key reasons to choose MyFirst Partner by IDFC FIRST Bank to earn money through referrals:

  • You can earn a great amount for every savings account opened through your referral. The more referrals, the higher your earnings.
  • It’s completely free to sign up as a partner. You don’t need to pay anything.
  • Share your unique referral link easily via WhatsApp, Facebook, Twitter etc. This increases your chances of getting more referrals.
  • IDFC FIRST Bank is a trusted, reputed bank so people feel comfortable signing up. This improves the conversion of your referrals.
  • You can easily monitor your successful referrals and bonus earnings in your dashboard. Find ways to improve your performance.
  • Apart from earnings on account opening, you may get other benefits like discounted processing fees on loans etc.
  • The referral bonus gets credited directly to your linked bank account quickly as per terms. No delays.

Conclusion

IDFC FIRST Bank’s MyFIRST Partner Program offers a fantastic opportunity to monetize your social connections and earn extra income online. By actively promoting personal loans through this personal loan referral program, you can achieve your financial goals without any upfront investment. Remember to responsibly guide your referrals by highlighting the key benefits, terms, and eligibility criteria before they apply.

John R. Wright
Social media ninja. Freelance web trailblazer. Extreme problem solver. Music fanatic. Spent several months marketing pubic lice in the financial sector. Spent 2002-2008 supervising the production of ice cream in Africa. Had some great experience developing robotic shrimp in the aftermarket. Spent several years getting my feet wet with puppets in Miami, FL. Was quite successful at supervising the production of corncob pipes worldwide. What gets me going now is working with electric trains in Mexico.