Who doesn’t want a side income? A sustainable side income source can release the burden on your primary income, strengthening your finances considerably. Thanks to the internet, there are several ways to earn a side income, but none work better than a refer and earn app.
Using only your phone, you can quickly generate an income with refer and earn apps. You can use the money to settle your debt, plan a foreign trip, or invest in the markets. Read on as we guide you about joining a referral marketing business.
How does a referral marketing business work?
You refer a company’s products or services to your contacts in a referral marketing business. For every successful referral, you receive a payout proportional to a certain percentage of the product or service’s value.
Among various referral programs, acting as a bank’s partner can be promising as the personal loan market in India is thriving. In October 2022, personal loans grew by 20% year-on-year to ₹37.7 trillion in India. Also, a loan referral program is easy to understand and works just like insurance referrals.
The IDFC FIRST Bank MyFIRST Partner App is India’s most popular personal loan referral program. It offers an excellent opportunity to generate secondary income.
To earn money using the program, you must educate people about IDFC FIRST Bank’s personal loan products. When someone is interested in them, you must help them with the loan application, document submission and verification.
All of this happens on the same app. So, the entire process is paperless, digitised and straightforward. Once a loan is disbursed successfully, you receive your 1.5% payout.
How to register for a referral marketing business?
You can become an IDFC FIRST Bank MyFIRST Partner by following these steps:
- Download the app
- Upload your photo
- Upload your documents
- Enter your bank account details to receive payouts
- Once you get an OTP, verify it and complete the registration procedure.
After registering yourself on the app, you can start earning by generating leads immediately.
Benefits of a referral marketing business
Here are the benefits of being a part of the personal loan referral marketing business of IDFC FIRST Bank:
- Easy onboarding and eligibility
You can register on the IDFC FIRST Bank MyFIRST Partner App for free. The eligibility criteria include the following:
- You must be over 18
- Be an Indian national
- Hold an account at any bank in India
Students, as well as homemakers, can also register as IDFC FIRST Bank MyFIRST Partners and earn a consistent income.
- Earn high referral money
For every personal loan sanctioned to your referral, you will receive a 1.5% payout of the loan amount. With consistent efforts, you can earn over ₹50,000 every month. It makes the program a convenient source to earn money from home.
- Weekly payouts
You can get payouts every week, so your extra income keeps coming in. The payout is disbursed directly to your bank account.
- Attractive rewards
If you perform well, you can enjoy big rewards like cash prizes, electronic gadgets, etc.
Wish to avail all the above benefits? Consider downloading the IDFC FIRST Bank MyFIRST Partner App today and earn money anytime, anywhere.