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Benefits of Personal Loan

  • max loan amount personal loan
    Max Loan Amount
    Upto ₹40 Lakhs
  • Maximum tenure
    Max Loan Tenure
    Upto 84 months*
  • lower interest rates
    Lower Interest Rates
    Starting from 11% p.a.
personal loan
INR 500 /-
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24-Feb-2026
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Personal Loan Interest Rates

  • By Web Online CA
  • 3 min read
  • Updated On 31-January-2026

What is Personal Loan

A Personal loan is a type of unsecured loan and comes with competitive interest rates starting from 10.15% p.a. You can borrow funds without having to pledge any form of security and loan amount will depend on your income. Personal loans are generally used for a long-awaited holiday, home improvements, medical expenses, weddings, or emergency expenses. These online loans are provided based on eligibility criteria such as employment status, credit history, income level, repayment history and capacity.

Personal Loan Interest Rates Fees & Charges

Interest Rate 10.15% p.a. onwards
Loan Amount Up to Rs.20 lakh
Loan Tenure Up to 60 months
Processing Fee 0% to 6% of the loan amount + GST

Senior Citizen Customers can get discount of 10% on all service charges for personal loan.

Note: If pay your EMI after the due date, interest will be calculated on unpaid EMI for the late number of days and will be added to your next EMI.

Example:
EMI Due Date: 5th
Payment Made On: 15th
Delay: 10 days
Impact: Interest for these 10 days will be added to your next EMI.

Personal Loan: Benefits & Features

Maximum tenure: Apply Personal Loan online with a Maximum tenure of up to 60 months.

Low interest rates: Get Personal Loan online up to Rs. 20 lakh @ 10.15% p.a.

Instant Approval: 100% Digital and Quick Process for your financial goals.

No hidden charges: Complete transparency process with no hidden charges.

Collateral free: Online application and disbursement without the need to pledge any collateral.

Nil Foreclosure charges: Nil foreclosure charges after payment of 12 EMIs.

How to apply for a Personal loan online

Step 1: Fill a simple online personal loan application form

Step 2: Fill your basic details, occupation type and annual income and submit the required documents

Step 3: Once done, you will receive a call from our team and guide you on the next steps

The loan amount will be transferred to your bank account on the successful verification of your documents.

Document required for Personal Loan

KYC documents: Any one of the following documents can be submitted

  • PAN Card
  • Aadhaar card
  • Passport
  • Driving license
  • Election / Voters identification card, NREGA Job card signed by the officer of the State Government

Income Proof:

  • Salary slips last 6 months
  • Latest Form-16 and IT returns
  • Bank statement last 6 months

Personal Loan Eligibility Criteria

Nationality: Resident Indian

Age: 21 to 60 years

Income: A stable and regular income source

Employement: Employees of public and private limited companies

Credit Score: A CIBIL score of 750 or above improves your chances of approval

Frequently Asked Questions

A personal loan is an unsecured loan and type of credit facility which is offered by banks with minimal documentation and no collateral. These online loans are provided based on eligibility criteria such as employment status, credit history, income level, repayment history and capacity. Personal loan used for a variety of purposes such as medical emergency, a home renovation, wedding and managing your expenses.

Personal loans given by banks or lenders for personal use with minimal documentation and an easy loan application process. You repay with interest over a set period through EMIs.

The maximum loan amount based on individual eligibility, income, credit score, and lender policies.

You can use a Loan EMI calculator to compute the monthly installment that suits your budget. You only need to enter the amount you want to borrow, the interest rate, and the tenure to get an estimate of the monthly installment EMI.

Yes, you can make overdue payments online with Internet Banking, any UPI App or Mobile Banking.

Yes, Personal loan is an unsecured loan. It is provided without security with higher interest rates. You do not need to pledge collateral such as property or gold to get a personal loan.

You need to submit any documents Passport, Driving license, PAN Card, Aadhaar Card, Voters Id with Bank Statements and last 3 month Salary Slips.

The Ideal CIBIL Score of 750 and above is required to get instant paperless approval for the best personal loan, it may differ from lender to lender.
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