Personal Loan/Business Loan
Empower Your Dreams with a Personal Loan, start with 12K Salary
In Business Loan Get quick and hassle-free access to funds for any personal need. Flexible repayment plans and competitive rates designed to support you when it matters most.
A Personal/business Loan is an unsecured loan offered by banks, non-banking financial companies (NBFCs), or other lenders to individuals based on their income, credit score, and repayment capacity. Unlike secured loans, it does not require collateral such as property, a vehicle, or other assets. The borrowed amount can be used for a wide range of personal expenses like medical emergencies, education, travel, home renovation, weddings, or debt consolidation.
Features and Benefits of our Personal Loan
Explore various lenders offering attractive personal loan interest rates with easy-to-manage and affordable EMI options.
Quick and Easy Access to Funds
Personal loans are usually processed quickly with minimal documentation, allowing you to access funds when you need them most, such as for emergencies or urgent expenses.No Collateral Required
Most personal loans are unsecured, meaning you don’t have to pledge any asset like a property or vehicle, making it easier to apply and qualify.Flexible Use of Funds
You can use the loan amount for a variety of purposes—medical expenses, education, travel, weddings, debt consolidation, or home repairs—without restrictions.Flexible Tenure Options
Loan repayment terms typically range from 12 months to 60 months or more, allowing you to choose a plan that fits your budget and repayment capacity.
Personal Loan Eligibility
To be eligible for a personal loan, you need to fulfill specific requirements. Lenders typically evaluate several key factors to determine whether you qualify for a personal loan.
- Age should fall under the range of 21 years to 60 years
- Net monthly income should be 12,000/- for salaried and self-employed, and yearly transactions should be a minimum of 20 lakhs
- Credit score must be above 650
- Debt-to-income ratio
- Employment stability
- Clear repayment history
- Must be a Resident Citizen of India
Required documents for Personal Loan
Identity Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card.
Proof of Residence or Address Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
Income Proof – 6 months Bank statement, 3 months Salary Slips for a salaried person, and a businessman requires 2 years ITR and computation, profit and loss account, and balance sheet.
Photograph – Passport-size photographs
Business proof – Business registration documents such as a GST certificate, Udyam Registration, Shop Licence, etc.
Fees and Charges for Personal Loan
The fees and charges for personal loans may vary from one lender to another and from case to case. The table above offers a helpful guide to the common costs involved.