Personal Loan for Every Purpose

No matter what stage of life you're in, a personal loan can help you achieve your goals with ease. Here are just a few of the many ways a personal loan can support your journey

Home Renovation

Home Renovation

Wedding

Wedding Dreams

Medical Emergencies

Medical Emergencies

Education

Higher Education

Travel

Travel & Vacation

Business Needs

Business Needs

Who Can Apply for a Personal Loan?

We believe financial support should be accessible to everyone, regardless of their profession. Our personal loans are designed to cater to diverse financial needs, making them available to:

Salaried Professionals

Salaried Professionals

If you are employed with a regular monthly salary of 18K and above, you are eligible to apply for a personal loan. Use it to cover your personal expenses, home renovation, travel, or any unexpected financial need.

Business Owners

Business Owners

Running a business comes with its own set of challenges. Business owners can use personal loans to address both personal and small business-related needs, ensuring financial stability during times of growth or unexpected events.

Pensioners

Pensioners

Even after retirement, expenses do not stop. Pensioners can apply for personal loans to meet medical, family, or personal expenses with simple eligibility criteria.

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Eligibility Criteria

1. Age Requirement: Applicants must be between 21 and 60 years of age. This ensures that you are in an income-earning bracket to repay the loan.

2. Minimum Income Level:

  • Salaried Professionals: You must have a minimum monthly income of ₹18,000.
  • Self-Employed Professionals: You should have a stable income sufficient to manage the loan repayment comfortably.

3. Employment Type: Salaried individuals, self-employed professionals, and business owners are eligible to apply. Your employment type helps us understand your financial profile.

4. Work Experience or Business Vintage:

  • Salaried Individuals: Minimum 1 year of work experience is required.
  • Self-Employed Individuals and Business Owners: Minimum of 2 years of consistent business operation or professional practice.

5. Credit Score: A minimum credit score of 700 is recommended. A good credit score helps you secure better interest rates and higher loan amounts.

6. Residency Status: Applicants must be Indian residents.

7. Bank Account: You need to have an active bank account with a reputable bank, which will be used for disbursal and repayments.

Frequently Asked Questions - FAQs

− What is a Personal Loan?
A personal loan is an unsecured loan that can be used for a variety of personal purposes, such as paying for medical expenses, home renovations, weddings, vacations, or any other financial need. You do not need to provide any collateral or security to avail of a personal loan.
+ Who is eligible to apply for a personal loan?
Anyone between the age of 21-60 years with a regular source of income can apply for a personal loan. This includes salaried professionals, self-employed individuals, business owners, and even pensioners, depending on income stability.
+ How much loan amount can I get as a personal loan?
The loan amount you can receive depends on your monthly income, credit score, existing financial obligations, and repayment capacity. Generally, personal loans range from ₹50,000 to ₹20 lakhs. Higher income and a strong credit profile increase your chances of getting a higher loan amount with better interest rates.
+ What documents do I need to apply for a personal loan?
You typically need identity proof (Aadhaar/PAN), address proof, income proof (salary slips or ITR), bank statements (last 3–6 months), and passport-size photographs. Additional documents may be required depending on your profile and lender.
+ How long does it take to process a personal loan?
Personal loans are usually processed quickly. Once documents are verified and approved, the loan amount can be disbursed within 24 hours to 3 working days, depending on the lender and your eligibility.
+ What is the interest rate for a personal loan?
Personal loan interest rates generally start from around 10% per annum and may vary based on your credit score, income, employment type, and lender policies. A higher credit score can help you get lower interest rates.
+ Can I repay my loan early?
Yes, most lenders allow prepayment or foreclosure of personal loans. However, some lenders may charge a small prepayment or foreclosure fee. It is advisable to check the lender’s terms before applying.
+ How is my EMI calculated?
Your EMI depends on three factors: loan amount, interest rate, and repayment tenure. EMI is calculated using a standard formula that ensures equal monthly payments over the loan period. You can also use an EMI calculator to estimate your monthly payment easily.
+ What happens if I miss an EMI payment?
Missing an EMI may result in late payment charges and penalties. It can also negatively impact your credit score, making it harder to get loans in the future. It is important to pay your EMIs on time or inform your lender if you face any difficulty.
+ Can I take a personal loan if I have an existing loan?
Yes, you can apply for another personal loan even if you have an existing loan. Approval depends on your income, credit score, and repayment capacity. Lenders check whether you can comfortably manage multiple EMIs.
− Are there any hidden charges?
No, we are transparent about our fees and charges. There are no hidden charges. Any applicable fees such as processing fees, prepayment charges, or late payment penalties are clearly communicated at the time of loan approval.
+ What are the repayment options available?
You can repay your loan through EMI payments, either via post-dated cheques, Electronic Clearing Service (ECS), or by setting up an auto-debit from your bank account.