What is Personal Loan ?
A personal loan is an unsecured loan, which can be short or long term, offered by a bank or non-banking financial institution (NBFC) to consumers. Individuals can obtain personal loans based on their overall income and credit rating.
Personal loans are often approved within a few days of an individual applying and meeting a variety of historical verification criteria. Personal loans are accessible for a variety of purposes, including emergency medical needs, scheduled events such as weddings, and home renovations.
Calculate Interest
Compute your loan interest accordingly 1L to 50L , 10.5% to 24.5% , 6Months to 240Months
Months
Your EMI
Loan Amount
Total Interest payable
Total Payment
Personal Loan Types
These loans do not require collateral, which means you do
not have to put up any assets as security (such as a house
or car). Lenders evaluate your creditworthiness using
characteristics such as credit score, income, and
employment history.
Secured loans require collateral. This might be your house
or vehicle. If you fail to repay, the lender may seize the
collateral.
A fixed-rate loan has a steady interest rate throughout
the loan's tenure. This provides predictability in monthly
payments.
Variable-rate loans have interest rates that can change
over time, typically in reaction to changes in a benchmark
interest rate. This means your monthly payments may
change.
These loans are specifically designed to consolidate
various debts into a single loan. This can make payments
easier and, if the interest rate is lower, perhaps save
money.
These loans are designed specifically for financing home
improvement projects. They can be secured (using your home
as security) or unsecured, depending on the lender's
requirements.
For Salaried :-
Eligibility Criteria For Personal Loan
| Criteria | Salaried Individuals |
| Age | 21 to 65 years (may vary slightly by lender) |
| Residency Status | Resident Indian |
| Employment | Minimum 1 year of experience, with at least 1 year in current organization |
| Minimum Income | Varies by lender (typically ₹20,000 per month or more) |
| Credit Score | Minimum score of 750 or higher (may vary by lender) |
| Additional Documents | Salary slips, employment certificate, bank statements |
Documents Required
| PAN Card * Aadhaar Card * Voter ID Card * Driving License * Passport |
| Aadhaar Card * Passport * Driving License * Utility Bill (not older than 3 months) |
| * Latest 3 months’ salary slips * Bank statements of salary account for the last 3 months * Form 16 (if available) |
| * Appointment letter * Latest salary certificate |
| * 2 Passport-sized photographs * Application form duly filled |
For Self Employed :-
Eligibility Criteria For Personal Loan
| Criteria | Self-Employed Individuals |
| Age | 24 to 80 years (may vary slightly by lender) |
| Residency Status | Resident Indian |
| Employment | Minimum 3 years of business experience, with overall 5+ years of business experience preferred |
| Minimum Income | Varies by lender (may require proof of sufficient income to support loan repayment) |
| Credit Score | Minimum score of 685 or higher (may vary by lender) |
| Additional Documents | Business registration documents, income tax returns, bank statements |
Documents Required
| * PAN Card * Aadhaar Card * Voter ID Card * Driving License * Passport |
| * Aadhaar Card * Passport * Driving License * Utility Bill (not older than 3 months) * Ration Card |
| * Latest Income Tax Returns (ITR) * Audited financial statements for the past 2 years * Bank statements for the last 6 months (savings and current accounts) |
| * Business registration documents (if applicable) * GST registration certificate (if applicable) * Shop & establishment act certificate (if applicable) |
| * Office address proof (if applicable) * Proof of business continuity (if applicable) |
Frequently Asked Qusetions
Our website allows you to apply for a personal loan online.
The application process is straightforward, usually involving
filling out a form and submitting some documents.
-
In most cases, you will need to:
- Proof of identity (such as Adhar or Pan card) .
- Proof of income (such as payslips or tax returns) .
- Proof of residence (such as utility card) .
The amount you can borrow depends on your credit score,
income, and other factors. Once we have reviewed your
application, we will let you know your eligibility.
Approval times may vary, but we aim to process applications
quickly. You can generally expect a decision within a few
business days, and funding is often disbursed shortly after
approval.
If you Missing payments it can affect your credit score and
cause you to pay late. We can think of ways to get you back on
track.