Referral App: How To Make The Best Use Of It?

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Most businesses, especially financial institutions depend on recommendations to get more customers. Referral apps play a major role in acquiring new customers, mainly through word-of-mouth marketing. Most banks use refer-and-earn apps to solidify customer loyalty, which helps build a strong network of customers. With a referral rewards program, banks encourage people like agents, housewives, entrepreneurs, and students looking for better income prospects to get prospective customers to use their financial products, like personal loans, and earn money.

IDFC FIRST Bank gives you an opportunity to earn a second income through its MyFIRST Partner app without paying anything. Being a personal loan referral app, it enables you to earn more than Rs 50,000 every month on successful referrals for personal loans. This referral money app from IDFC FIRST Bank requires you to become a referral partner by registering your name with the app.

If you are an Indian citizen, over 18 years of age, residing in any part of the country, and hold a bank account, you can become a referral partner. How does the MyFIRST Partner App – refer and earn work?

Register with MyFIRST Partner App

To join one of the highest paying referral apps, you need to download the app from Google’s PlayStore or Apple’s App Store and register your name by submitting your details with supporting documents like:

A passport-size photo
Scanned copies of your PAN Card and Aadhaar Card, Voter ID, or passport
Your bank details like the account number and IFSC Code
GSTIN details, if any

You will receive a one-time password (OTP) to verify the details. Once you have registered your name successfully, you can start referring people for personal loans.

Build a strong referral network

To become successful in referral marketing, you have to do some networking. For that, you have to put in a conscious effort, which may take some time, but it is worth it. Most people want you to listen to them and solve their problems. Such a process works easier with your relatives, neighbours, friends, and colleagues.

Have a list of those who are looking for financial assistance to meet their needs like children’s education, marriage, home renovation, holidays, debt consolidation, and medical expenses. You need to be sincere and responsive to their questions. Be helpful, use the right tone to build a positive relationship, and avoid being pushy.

Help people get a personal loan

IDFC FIRST Bank’s personal loans are easier to apply for and get to meet any financial emergency. The instant personal loans are offered at a competitive interest rate and a low processing fee. You can help prospective applicants to get a loan of up to Rs. 40 lakhs.

The MyFIRST Partner App allows you to help your referrals apply for the loan by providing essential details and supporting documents, including the scanned copies of PAN Card and Aadhaar Card and the last 3-month bank statement. After the verification of documents, a relationship manager of the bank contacts the customer and takes the process ahead until the disbursement of the loan amount.

Receive payouts and exciting rewards

You will receive compensation and rewards for the referrals you have given. They are paid every week to your bank account.

If you want to make the best use of the referral rewards program, you should download IDFC FIRST Bank’s MyFIRST Partner now and start referring your friends and relatives.