MyFirst Partner Referral Code

MyFIRST Partner pays a flat 1.5% of every personal loan that gets disbursed through you. Not per application, not per approval — per disbursal, scaled to the size of the loan.

MyFIRST Partner is IDFC FIRST Bank's own programme for individuals, businesses and organisations to earn commission by referring customers for personal loans. The commission is a flat 1.5% per disbursal, and participants operate as MyFIRST Personal Loan Agents.

The word doing the work is disbursal. You are not paid when someone applies. You are not paid when they are approved. You are paid when the money leaves the bank and lands in their account — and because the commission is a percentage, you are paid more when more money leaves the bank.

Set that out plainly and the incentive becomes obvious. A friend who considers a personal loan and decides against it pays you nothing. A friend who takes ₹2 lakh pays you ₹3,000. A friend who takes ₹10 lakh pays you ₹15,000. Your income is a direct function of how much debt the people around you take on, and of nothing else — not the interest rate they get, not whether the loan suits their circumstances, not whether they can service it comfortably. Personal loans are unsecured and priced accordingly, which makes them among the more expensive forms of consumer borrowing in India.

This is not a hidden term or a trick. It is how the direct selling agent model has always worked across Indian retail lending, and it is disclosed openly here. The reason to state it in this much detail is that a bank's DSA programme presented as "refer and earn" sits, in a reader's mind, next to the cashback and shopping referrals elsewhere on this site, and it is a categorically different thing. Recommending a food delivery app to a friend costs them a meal. Recommending a personal loan to a friend costs them interest for years, and pays you a percentage of the principal.

Two practical notes. First, this is a bank's own programme rather than an aggregator, which means the counterparty is IDFC FIRST Bank and the terms are the bank's — a point in its favour relative to platforms that intermediate between you and several lenders without saying so. Second, our record previously showed "5% Discount" in its statistics block against a documented flat 1.5% commission. Those are different numbers describing different things, and the display figure was simply wrong. It is the seventh content defect found in this export and is corrected here.

If you want to do this, do it as a declared agent rather than as a friend passing on a tip. Tell the person you are paid a percentage of what they borrow. Someone who still wants the loan after hearing that is making an informed choice, and the disclosure costs you nothing except the referrals that should not have happened.