How can online referral programs help make more money in 2022?

Referral programs are achieving prominence, for their power to transform one’s life by giving an opportunity to make more money. For those who want to earn online, it is the right time to involve in any of the high paying referral programs in 2022. Businesses, including banks and other financial institutions, use recommendations to find potential customers who are likely to use their products or services for a long time. 

Most banks have crafted a unique referral program to acquire new customers through referrals. With a refer-and-earn app, they invite people to join the program and make money on every referral they give. The user-friendly app ensures that the user is compensated when a referral is converted into a sale. 

IDFC FIRST Bank offers one of the best financial affiliate programs to those who can spend their free time networking and building a network of referrals for its personal loan products offered for various purposes, like medical emergencies, education, home renovation, travel, and debt consolidation. Anyone can use this referral rewards program to earn as high as 50K every month. 

As a new entrepreneur or housewife who wants to start a home-based business, you can join one of the most effective finance affiliate programs of IDFC FIRST Bank and earn more money. In case you are an insurance agent or financial advisor who wants to have a second source of income, you can do it through its MyFIRST Partner App. You don’t need any investment except a strong desire to get people who require instant loans at flexible repayment terms.

IDFC FIRST Bank’s personal loan referral program is relatively straightforward if you are ready to spare some time to research and build a referral base. Anyone over 18 years old, an Indian citizen, and has a bank account can join the program to have a regular source of income. Here’s what you need to do to become successful. 

1. Register for a referral program

If you want to become a part of one of the high-paying financial affiliate programs, you need to download the MyFIRST Partner App from the PlayStore or App Store and register your name. You have to fill in your details and submit them with the scanned copies of documents like:

• Your PAN Card and Aadhaar Card or Voter ID
• A passport-size photo
• Your bank account number and IFSC Code
• GSTIN details, if any

All the details submitted are protected by verifying the one-time password (OTP), which you will receive on your registered mobile number. After successfully registering yourself as a referral partner, you can start building referrals for personal loans. 

1. Build relationships and a good referral network

You need to build a good network of referrals to be successful in referral marketing. Develop genuine relationships with people you know by listening to them, making them feel good, helping them meet a financial emergency, and delivering good service. With a conscious effort and some networking, you can do it. Though it may take some time, it is worth it. 

Prepare a list of your friends, relatives, and neighbours looking for instant loans to meet a financial emergency. 

1. Help your family members and friends get an instant loan

IDFC FIRST Bank’s personal loans are offered at competitive interest and flexible repayment terms. You can help them get a loan up to rupees 40 lakhs if they are eligible. Using the MyFIRST Partner App, you can help qualified referrals apply for a loan by filling out the application form with essential details and submitting them with supporting documents like scanned copies of PAN Card and Aadhaar Card and the last 3-month bank statement. 

It takes some time to complete the verification of documents. After that, the bank’s relationship manager will contact the customer and deal with the process until the disbursement of the loan amount.

1. Receive payments for referrals

You will have a certain percentage of the approved loan amount credited to your account for every referral you give. Other than this, you also get rewards and incentives for giving more referrals in a month or week. 

It is possible to realize your dream of earning decent money online. You can start now by downloading IDFC FIRST Bank’s MyFIRST Partner App on your mobile phone.