Referral apps are a quick way to earn extra income. These apps allow you to earn rewards for referring their new services and products to potential customers. You can easily maximise your earnings potential with refer & earn ral apps if you leverage your skillset and networking connections. Refer the program or scheme to your friends, family members, colleagues or clients and get cash and other rewards for every successful signup.

Even today, most people still seek a close friend or relative’s advice when making important decisions regarding their health, career, finances, etc. You can also use your contacts and have a second source of income by referring them to the right services or products they need. Here’s how.

1. Using your social circle

Most people rely on their social circle to find the best financial advisors. You can use it to your financial advantage if you also have a solid social circle. For example, with the IDFC FIRST Bank MyFIRST Partner App, you can help people in your network get personal loans and earn generous passive income.

All you need to do is refer someone through the app, and if they are approved for a loan, you will earn a flat 1.5% per disbursal. The loan amount can vary from ₹20,000 to ₹40 lakh. Helping people in your social circle acquire loans can earn ₹50,000 a month or and more with no out investment.

2. Using your business or profession

You already influence your suppliers and clients if you run a small business. Signing up for a referral app can earn cash back on purchases made by people you refer. For example, if you refer someone to a restaurant they visit, you may earn a percentage of their bill as cash back.

Similarly, you can also earn from a personal loan referral app. The IDFC FIRST Bank MyFIRST Partner App enables customers to refer to their eligible friends and family who need personal loans for various purposes and earn rewards for every successful referral. The more people you refer to, the more money you can make.

3. Promoting insurance referrals

Insurance companies always look for new customers and often pay handsomely for leads. Suppose you have a network of friends or family members looking for new insurance coverage. In that case, you can refer them to a specific company and earn cash or other rewards on every new policy your referee buys.

Finding good insurance referrals and apps that offer rewards and provide insurance products relevant to your network is critical. After that, you can earn money whenever someone you refer signs up for an insurance policy.

Using the tips and strategies above, you can increase your earnings with referral apps and help your friends and family who will benefit from these apps. Whether graduates, insurance, real estate, or financial advisors, anyone can sign up for an earn money application and start generating additional income.