Service Details

Name of the Services	Personal Loan
Additional Information	—
Required Documents	For Salaried Individuals: PAN Card Aadhaar Card or valid Address Proof Last 3–6 months’ Salary Slips Bank Statements (last 3–6 months) Employment ID or Offer Letter (if newly joined) For Self-Employed: PAN Card Business proof/Registration Certificate Bank Statements (last 6 months) Income Tax Returns (last 2 years) Professional Degree or License (if applicable)
Upload Documents	Upload Required Documents to get service. Please upload documents in a ZIP File in case of more than one document

Description

Personal Loan – Instant Funds with No Collateral

Meta Title: Personal Loan in India – Eligibility, Benefits, Documents
Meta Description: Need urgent funds? Learn how to get a personal loan without collateral. Check eligibility, required documents, and benefits of availing a personal loan online.

What is a Personal Loan?

A Personal Loan is an unsecured loan offered by banks, NBFCs, or online lenders. It does not require any collateral or guarantor, and is disbursed based on the applicant’s income, credit score, employment stability, and repayment capacity.

These loans are repaid in fixed monthly instalments (EMIs) over a flexible tenure and can be used for any personal financial need.

Quick online approval and minimum documentation make personal loans ideal for urgent fund requirements.

Why Choose a Personal Loan?

A personal loan is versatile and can be used for a variety of purposes:

Medical Emergencies
Home Renovation
Higher Education
Debt Consolidation
Travel or Vacation
Wedding Expenses
Buy a Gadget or Electronics
Skill Development or Certification Courses

Eligibility Criteria

To apply for a personal loan, you must:

Criteria	Requirement
Nationality	Resident Indian citizen
Age	Between 23 and 55 years
Employment	Must be employed with an MNC, private, or public company
Minimum Income	₹20,000–₹25,000 per month (varies by lender)
Credit Score	Preferred 700+ for best rates

Documents Required

For Salaried Individuals:

PAN Card
Aadhaar Card or valid Address Proof
Last 3–6 months’ Salary Slips
Bank Statements (last 3–6 months)
Employment ID or Offer Letter (if newly joined)

For Self-Employed:

PAN Card
Business proof/Registration Certificate
Bank Statements (last 6 months)
Income Tax Returns (last 2 years)
Professional Degree or License (if applicable)

Key Features of Personal Loan

Feature	Description
Loan Amount	₹50,000 to ₹25 lakh (depends on eligibility)
Tenure	12 to 60 months
Interest Rate	Starting from 10.5% p.a. (varies by profile and lender)
Collateral Required	No collateral or security required
Processing Time	Instant to 48 hours (with proper documents)
Prepayment/Foreclosure	Available (charges may apply, varies by lender)