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Personal Loan
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Personal Loan
Providing affordable Personal Loans
A quick and easy way to deal with financial emergencies is a Personal Loan. Simply put, it is fundraising, so you don’t have to worry about collateral. Your background does not matter. You could be a salaried professional, a self-employed entrepreneur, or a retired personnel. Your loan is customised to your needs.
A Personal Loan is an unsecured loan designed to help individuals meet their financial requirements without pledging any collateral or security. Whether you need funds for medical emergencies, wedding expenses, home renovation, higher education, travel, debt consolidation, or any other personal need, a personal loan provides quick access to funds with convenient repayment options.
With simple eligibility criteria, minimal documentation, and fast approval processes, personal loans have become one of the most popular financing solutions for individuals across India.
Eligibility Criteria for Personal Loan
- Applicant should be between 21 and 60 years of age.
- Salaried individuals must have a regular source of income.
- Self-employed professionals and business owners should have a stable income and business profile.
- Minimum work experience as required by the lender.
- Good credit score, preferably 700 or above.
- No significant history of loan defaults or credit issues.
- Applicant must meet the lender's income and repayment capacity requirements.
Comparison of Personal Loan Interest Rates Offered by Top Banks/NBFCs
| Bank/NBFCs | Interest Rate |
| Axis Bank | 10.75% p.a. onwards |
| Flexi loans | 1% per month onwards |
| HDB Financial Services Ltd. | 8% – 26% p.a. |
| HDFC Bank | 10.75% – 25% p.a. |
| IDFC First Bank | 10.50% p.a. onwards |
| Indifi | 1.50% per month onwards |
| Kotak Mahindra Bank | 16% – 26% p.a. |
| Lending kart | 12% – 27% p.a. |
| M capital | 2% per month onwards |
| Neo Growth Finance | 15% – 40% p.a. |
| Tata Capital | 12% p.a. onwards |
| UGRO Capital | 9% – 36% p.a. |
Documents Required
For Salaried Applicants
- PAN Card
- Aadhaar Card
- Passport-size Photographs
- Latest Salary Slips
- Last 6 Months Bank Statements
- Address Proof
- Employment Proof (if required)
For Self-Employed Applicants
- PAN Card
- Aadhaar Card
- Business Registration Proof
- Last 2 Years Income Tax Returns (ITR)
- Last 6 Months Bank Statements
- GST Registration (if applicable)
- Business Address Proof
Benefits of Personal Loans
- No collateral or security required.
- Quick loan approval and disbursement.
- Flexible repayment tenure options.
- Attractive interest rates for eligible applicants.
- Can be used for any personal financial requirement.
- Convenient EMI repayment options.
- Online application and tracking facilities.
- Higher loan amounts available based on eligibility.
How to Apply
- Check your eligibility criteria.
- Submit the required documents.
- Complete the loan application process.
- Verification and credit assessment by the lender.
- Loan approval and disbursement of funds.
Why Choose a Personal Loan?
Personal loans provide financial flexibility when you need immediate funds without affecting your savings or investments. They offer a simple borrowing solution with transparent repayment terms, making them suitable for planned expenses as well as unexpected financial emergencies.
₹ 2500000
5 Lac
2 Cr
15 Years
5
30
8.5 %
6
20
Monthly Loan EMI
₹ 0
Estimated Monthly Payment
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