There are various ways of making an extra income. Pursuing one’s hobby can be an excellent way of building an additional income, although it is often challenging. A refer and earn program helps you make a sustainable side income while pursuing your job and enables you to improve your interpersonal skills. Refer and earn programs bank heavily on this skill; hence, the better your interpersonal skills, the more you can earn through these programs.
What are refer and earn programs?
A refer and earn program is an excellent way of making extra money, with minimal effort required from your end. It involves referring a product to your network and earning rewards for every successful lead.
People generally use referral and earn programs to build a second source of income. One of the reasons why refer and earn programs are popular is that they do not require a partner (the person who refers) to invest significant time to make money.
How does refer and earn work?
Let us understand the functioning of a refer and earn program through IDFC FIRST Bank’s MyFIRST Partner referral program. As a referral partner, you can refer your friends and acquaintances who need a personal loan to IDFC FIRST Bank via the MyFIRST Partner App. Once the personal loan has been approved and disbursed by the bank, you will receive compensation directly into your bank account.
If you refer more people via the IDFC FIRST Bank’s MyFIRST Partner App, you can earn higher earnings as compensation every month. This is how refer and earn apps work, in general.
How to build a second income with the MyFIRST Partner App?
Registering yourself as a partner on IDFC FIRST Bank’s MyFIRST Partner App is easy. However, earning a sustainable income through the app requires you to work on one skill—networking. Here are the steps to be followed to earn a sustainable income via IDFC FIRST Bank’s MyFIRST Partner refer and earn money app:
- Sign up: If you meet the eligibility criteria to register as a partner, download the IDFC FIRST Bank MyFIRST Partner App and submit your documents to get started.
- Network: As the next step, you must spend some time networking to know whether any of your contacts need a personal loan.
- Help with the loan application process: Help the applicant with the application process to avail of a personal loan by providing the supporting documents. The chances of a personal loan getting sanctioned depend on how far the applicant has met the loan requirements.
- Check the application’s status: IDFC FIRST Bank’s support team will reach out to the customer to process their application and disburse the loan amount.
- Get paid once the loan amount is disbursed: Once the loan amount for a referral is disbursed, you will receive your compensation directly into your bank account.
Which is the best refer and earn money app in India?
The IDFC FIRST Bank’s MyFIRST Partner App is India’s best refer and earn money app. To be eligible to register as a partner, you must fulfil two basic criteria: you must be an Indian citizen and above 18 years of age.
This app helps you hone your interpersonal skills and earn extra money. What’s more, as and when your network grows, you are better positioned to make a higher side income. The IDFC FIRST Bank’s MyFIRST Partner Appcan help you earn over ₹50,000 per month as an extra income.