Personal Loan
Collateral-free funds for life’s planned and unplanned needs.
Quick, collateral-free personal loans for weddings, travel, medical needs or any personal requirement — with fast approval and flexible tenure.
Interest rates and terms are indicative and subject to lender approval.
Personal Loan
Key features
- Collateral-free up to ₹40 L
- Fast approval & disbursal
- Tenure up to 7 years
- Minimal documentation
Eligibility
- Salaried or self-employed
- Stable income
- Good credit score
Documents
- KYC documents
- Salary slips / ITR
- Bank statements
- Employment proof
In depth
Understanding Personal Loan
A Personal Loan is an unsecured short-to-medium-term loan granted to individuals based on their creditworthiness and income stream, without requiring any collateral.
- The Mechanism
- Loan Eligibility = Borrower's Net Income - Existing Obligations.
- Key Components
- Credit score (CIBIL), Monthly income, Employer profile, and FOIR.
- What the Results Mean
- It offers quick liquidity for immediate needs. Because it is unsecured, interest rates are significantly higher than secured loans.
- Smart management
- Use these loans sparingly for emergencies rather than discretionary spending.
Regulatory source
Governed by the RBI guidelines on retail credit and unsecured lending limits.