Get Quick and Easy Personal Loan, Apply Now!
A personal loan is money you borrow from a bank or lender for things like paying bills, home repairs, or other expenses. You pay it back over time with interest. It's not tied to any specific purchase, and you don't need to offer something valuable, like a house, as security.
Personal Loan Features
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Offers for New Customers
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Quick disbursals
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Loan of up to Rs. 40 Lakh
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No Guarantor / Collateral
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Minimal documentation
Features and Benefits of our Personal Loan
A personal loan offers flexibility without needing collateral. Use it for any purpose, making it a versatile financing solution suited to your needs.
The followings are the ways a personal loan can be useful:
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Debt consolidation: Consolidate debts for financial ease: one payment, lower interest. Simplify, save, succeed.
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Home renovation: Enhance home, boost value: leverage personal loan for renovations, elevate living standards.
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Medical expenses: Unforeseen medical bills? Bridge the gap with a personal loan for peace of mind and timely care.
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Emergency expenses: Shield from financial strain: a personal loan cushions unforeseen costs like medical emergencies or car repairs.
Personal Loan Eligibility Criteria
Key factors for personal loan approval: credit score, income, employment history, and debt-to-income ratio.
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Age requirement: 21 to 60 years old for personal loan eligibility.
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Income criteria: Minimum net monthly income of ₹20,000 for both salaried and self-employed. Yearly transactions should exceed ₹20 lakhs.
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Credit score prerequisite: Above 750 for personal loan approval.
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Debt-to-income ratio: Lenders assess your monthly debt payments relative to your income.
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Employment stability
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Maintain a strong credit score: crucial for favorable loan terms and approval.
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Clear repayment history: Demonstrates reliability and boosts loan approval chances.
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Residency requirement: Applicants must be Indian citizens residing in India.
Documents required to apply for Personal Loan
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Identity Proof - Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
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Proof of Residence or Address Proof - Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
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Age Proof - Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
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Income Proof - 1 year Bank statement, 3 months Salary Slips
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Employment Proof - Employment Certificate, Office address proof
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GST or VAT Registration for Self-employed
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Photograph - Passport-size photographs
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Business proof - Business registration documents such as a partnership deed, Memorandum of Association (MOA), Articles of Association (AOA), etc.
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Income tax returns – Documents of the past 2-3 years to verify income and tax payment history
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Fees and Charges for Personal Loan
Personal loan fees and charges vary by lender and case. Refer to the table for a comprehensive overview.
| Particulars | Charges |
| Loan Processing Fees | 4999/- to 5% of Loan Amount |
| Loan Cancellation | Usually 3000 to 5% of Loan Amount |
| Stamp Duty Charges | 150/- to 300/- |
| Legal Fees | As per actuals |
| EMI / Cheque Bonus | Approx 499/- to 599/- |
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Additional personal loan charges: documentation, verification, duplicate statement, NOC certificate, and swap fees may apply."