Apply for Personal Loan

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Take a look at the top banks offering personal loan at competitive interest rates

Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs.2000 Amazon Voucher Free
There is a loan for your every need! Know the right one with a single click.
Personal Loan

Are you short of cash to meet some urgent financial requirement? Personal loan is your answer. Whatever the requirement be, whether you want to apply for a course or arrange money for an event, or any other reason, you can avail a personal loan to bridge your urgent financial need.

Personal loan gets processed faster and comes with higher interest rates. If you are looking for minimal paperwork, then choose an online policy that has the features of paperless and quick approvals.

Features & Benefits

Below are the features & benefits of Personal Loan

No Security

A personal loan is an unsecured loan that does not require any collateral or security. If you are in dire need of cash without any cash or asset to offer as a security then opt for this type of loan

Multipurpose Loan

Unlike home loan and auto loan, Personal finance can be used the way you want for a host of purposes like marriage, home renovation, travel, purchase of durable goods and so on

Minimum Documentation

When compared to other type of loans, personal loans require you to submit very few documents. Online documentation is a new feature which makes it even simpler

Short Tenure

Many banks offer personal loans with a repayment tenure of only 1-6 years. Choosing a short-term repayment period will help you pay less interest overall.

Tax Benefits

Yes! You read it right. If you use personal loan for renovating, repairing or other expenses related to your property, then the interest paid on loan can be used for tax exemptions

Loan Process

Applying for a personal loan is easy and includes the following steps

Step 1 : You will fill the application form either online or offline

Step 1 : Submission & verification of the required documents

Step 3 : The bank verifies your elgibility, validates the amount of loan you can be eligible for and also considers your repayment capacity

Step 4 : Your loan is approved

Step 5 : Loan is disbursed to your account

Eligibility & Documentation

Eligibility to avail a personal loan differs from bank to bank. However the difference is slight and the criteria is largely same across the sectors. Your banking relationship with the particular bank also matters

Age Limit

Min. 21 years to Max. 58 years [60 years at maturity]

Min. Monthly Income

Rs.15,000* Per Month

Salaried Employees Segment

Salaried employees can be belonging to

  • MNC
  • Public Ltd.
  • Co/Large Pvt. Ltd.
  • State Govt./ Central Govt./ PSU/ Central & Local body employees

Job Continuance / Work Experience

Min. 2years

Years in City

Minimum 1 year for most of the banks

Self Employed Professionals & Businessmen Segment

Varies as per the bank policies and candidates banking history.

Below are the documents required for Personal Finance

Identity Proof (Any One)

  1. Aadhaar Card/ e-Aadhaar Card
  2. Passport
  3. Driving License
  4. Voter ID
  5. PAN Card

Age Proof (Any One)

  1. PAN Card
  2. Passport
  3. Certificate from Statutory Authority

Residential Address Proof (Any One)

  1. Telephone Bill
  2. Electricity Bill
  3. Piped Gas Bill
  4. Ration Card
  5. Election Card
  6. Passport
  7. Driving License
  8. Certificate from Statutory Authority

Income Proof

  1. Salary Slips
  2. Income Certificate

Documents for Salaried Individuals

  1. Recent 3 months bank statement
  2. Recent 3 months salary slip
  3. 2 year employment continuity document

Documents for Self Employed Professionals

  1. Recent 6 months bank statement
  2. Highest professional degree certificate
  3. Recent Income tax returns along with computation of income
  4. Recent audited balance sheeet + profit & loss statements duly certified by CA

Documents for Businessmen

  1. Recent 6 months bank statement
  2. Recent Income tax returns along with computation of income
  3. Recent audited balance sheeet + profit & loss statements duly certified by CA
  4. Last 6 month's operative a/c statements of both the entity and the individual
  5. Proof of business existence
Interest Rates

Personal loan interest rates are on higher side when compared to interest rate on other loans as it is a fixed rate charged by bank. Lending institutions charge varying interest rates on personal loan depending on the following factors

  • Credit Score

    A person with a good CIBIL score is considered by the financier as a safe borrower with less chances of a loan default. Personal loan interest rate is lower for a good credit score and higher for a weak credit score
  • Your Income

    Nobody wants to board a sinking ship, this holds true for lending institutions as well. If you have a regular inflow of income or high pay then personal loan interest rates charged will be lower as you are less likely to default on the loan
  • Employment Status

    Financial institutions extend personal finance at a low interest rate to self-employed and those working for a reputed organization due to the likelihood of timely repayment
  • Interpersonal Relationships

    Lending institutions offer loyal customers who have a long term relationship with them, a concession of around 0.5% to 1% as there is less possibility of a default
  • Get Instant Customised Quotes
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List of Personal Loan providers in India

  • London
  • Leeds
  • Sheffield
  • Liverpool
  • Manchester
  • Birmingham
  • Glasgow
  • Bradford
  • Edinburgh
  • Bristol

Personal Loan by City

  • London
  • Leeds
  • Sheffield
  • Liverpool
  • Manchester
  • Birmingham
  • Glasgow
  • Bradford
  • Edinburgh
  • Bristol

Know more about Personal Loan

  • London
  • Leeds
  • Sheffield
  • Liverpool
  • Manchester
  • Birmingham
  • Glasgow
  • Bradford
  • Edinburgh
  • Bristol