Interest rate start 10.75% * Upto 40 Lacs
Terms of Use
Loan Duration: 12 - 60 months*   T&C Applied*
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Personal Loan

What is Personal Loan?

Personal Loan is an unsecured loan which helps to meet immediate of various kinds such as-
  • Any medical emergencies
  • School/College fees of your child
  • Wedding Purpose
  • Home Renovation
  • Buying any electronic gadget etc.
To meet your personal needs, you can take personal loan from any bank or non-banking financial company (NBFC). With minimum paperwork and quick loan approval process, you can easily opt for personal loan to overcome your immediate financial crisis.

Why should you go for Personal Loan?

A situation of financial crisis may arise at any time irrespective of your financial status. Personal Loan gives you a great opportunity to meet your immediate financial needs with no security kept as a collateral. Also, there is no pre-defined purpose for which you have to use your personal loan. The personal loan approval process is very quick and the disbursal process is also very quick and user-friendly. One of the best benefit of taking a personal loan, is that you can improve your credit score. If you take a personal loan and repay it within a stipulated time period,you will be able to increase your credit acore which increase your creditworthiness.

Types of Personal Loan

You can use personal loan for almost every need as there is no limit to the purpose of it’s use. Here we are specifying the types of personal loan-
  • Holiday Loans

    In todays hectic schedule, we always try to take some time off and relax. So, going for vacation with friends and family is always enjoyable and stress free. In order to enjoy your holiday without hampering your saving is quite challenging. In this case, Personal Loan comes to action. With attractive interest rates and quick disbursal mechanism, personal loan takes care of your holiday.
  • Wedding Loans

    Everybody dreams of a perfect wedding day. A perfect wedding day comprises of great place, awesome decoration, expensive dresses and jewelleries and mind boggling food. To be able to pull off the wedding as per the above requirements, you can use personal loan.
  • Business Loans

    To expand the existing business, you can take a personal loan. Personal loan helps to stabilize your business with the monetary support without giving the burden of any collateral to be kept with the lending institution.
  • Medical Expense Loans

    Nowadays, nobody is leading a healthy life. Today, you can't guarantee a healthy life. So, suffering from any illness or disease is very common. But the situation gets worse, when the illness costs you quite high. When you are unable to afford the high medical expense or any operation, just go for personal loan. Personal loan helps in meeting your emergency financial needs.
  • Home renovation Loans

    To be able to stay comfortably, you invest your money to renovate your home. But repairing and renovating home requires a lot of money. So, if you opt for personal loan, you will be able to renovate your home without the tension of money.
  • Fresh Funding

    Millenials with a new job and big dreams in their eyes are the ones who require loan the most. Personal loan helps to meet your financial needs and also helps in building a good credit score, if you repay your loan properly in time. So, a good credit score (preferably 750 and above) will help you young people to get loan later when you will need again.
  • Consumer Durable Loans

    In todays advanced era,we all want to stay updated technologically. We all wish to buy new advanced electronic gadgets which are very expensive. So, without hampering our savings, just go for personal loan. Personal loan will not only help you to buy your product but also helps in incurring the habit of monthly repayment of the loan.
  • Festive Loans

    India is a diversified country,where we celebrate all kinds of festivals round the year. Festivals are very auspicious and enjoyable. But these celebrations are quite expensive. So, in order to celebrate without any tension of money, you can go for personal loan.
  • Car Loans

    Today buying a car is not an item of luxury but an item of daily needs. Also, some people loves to buy luxury cars. We all know car is very expensive product to buy.So, personal loan is a great choice to fulfill your dream of owning a car.

Features of Personal Loan

  • Attractive interest rates depending on your loan repaying capacity.
  • Loan amount with minimum and maximum amount ranging from Rs. 50,000 to Rs. 40 lakhs (depending on the eligibility)
  • No security or collateral is needed
  • Loan tenure for repayment of the personal loan ranges from 12 months to 60 months.
  • Penalty for prepayment is charged, if you repay your personal loan before the specified time.

Eligibility Criteria to apply for Personal Loan

In order to apply for Personal Loan, you need to qualify for the following eligibility criteria-
  • Age

    Minimum and maximum age bracket is 21 to 58 years respectively.
  • Net Income

    You should earn a net monthly income of Rs. 20,000.
  • Job Stability

    You must be a salaried individual with at least 2 years of job experience.
  • Credit Score

    You should maintain a a dexcent credit score of 750 and above.
  • Repayment

    You will be able to repay your loan with loan tenure of minimum of 12 months and maximum of 60 months.

Documents Required for applying a Personal Loan

In order to apply for Personal Loan, you need to qualify for the following eligibility criteria- After you qualify for the eligibility criteria to apply for personal loan, you should submit the following set of documents to the lending institution-


  • AADHAR Card
  • Pan Card
  • Voter ID card
  • Passport
  • Passport size photograph


  • Electricity bill
  • Gas bill
  • Registered Rent Agreement
  • Driving License


  • Payslip of last 3 months
  • 6 months salary account bank statement (updated).
  • Copy FORM 16 for last 2 years.
  • Employment certificate from your current employer.
  • Valid documents for your current obligations related to your existing loan and installments for credit cards.

Personal Loan Interest Rates of Different Banks and NBFCs

*Interest rates change time to time.
Banks Loan Amount Interest Rate Loan Tenure Processing Fees Pre-Closure Charges
ICICI Bank Minimum- Rs. 50000
Maximum- Rs. 40 lakhs
11.25%* 1-5 years 0.99% to 2.25% 5% of outstanding principal + GST
IDFC First Bank Minimum- Rs. 50000
Maximum- Rs.4 lakhs
11.50%* 1-5 years 2% of principal 4% of outstanding
Aditya Birla Capital Minimum- Rs. 25000 Maximum- Rs. 15 lakhs 14%*-26%* 1-5 years 1% of principal. 4% of principal outstanding in 1st year, 3% in the 2nd year, and thereafter preclosure permitted after 6 months.
Indiabulls Rs. 15 lakhs 11.99%* 1-5 years Upto 5% 5% if less than 6months.
YES Bank Minimum- Rs. 2 lakhs Maximum- Rs. 20 lakhs 14% per annum. 1-5 years 2% of the principal minimum 999 Within 12 to 24 months: 4% Within 24 to 36months: 3% Within 36 to 48 months: 2% After 48 months : No charges.
Fullerton India Minimum- Rs. 65000 Maximum- Rs. 25 lakhs 14.00%-33.00% 1-5 years Up to 2.00% Nil after 36 months of agreement date.

Foreclosure charge of 7%, 5% and 3% respectively is charged for 7 to 35 months after the agreement date

*Interest rate and Loan approval are subjected to band discretion and approval.


To be able to apply for personal loan, your CIBIL score must be 750 and above. Higher the CIBIL score, higher is the probability of your personal loan to get the approval.

Following are the different types of personal loan-

  • Holiday Loan
  • Wedding Loan
  • Fresh Funding
  • Business Loan
  • Medical Expense Loan
  • Car Loan
  • Home renovation Loan
  • Festive Loan
  • Consumer Durable Loan

Credit Score depicts your loan repaying capacity and creditworthiness.

Low credit score implies higher risk of loan repayment failure. Despite of low credit score, you can apply for personal loan by proving your lender in the following ways-
  • Make your family members as a co-applicant
  • Show your net monthly income (preferably when there is increment in salary)
  • You can opt for Secured Personal Loan.

To apply for personal loan, your minimum net monthly income must be Rs. 20,000 or above.

  • KYC Documents

    PAN Card, AADHAR Card, Passport,Voter ID card and passport size photograph.
  • Address Proof

    Any kind of Utility bills such as- Electricity Bill, Gas Bill, Driving License, Registered Rent Agreement.
  • Income Proof

    6 months updated salary account statement, Payslip of last 3 months, FORM 16 for last 2 years, Appointment letter or experience certificate and valid documents showing your current obligations including credit card installments.