What a personal loan looks like
Collateral
None — approval rests on your credit profile alone
Disbursal
Within hours on a pre-approved offer, 1–3 days on a fresh file
Processing fee
Typically 1–3% of the sanctioned amount, deducted upfront
Foreclosure
Usually permitted after 6–12 EMIs, often with a 2–5% charge
Eligibility
- Salaried applicants aged 21–60 with a stable employment record
- Minimum net monthly income of ₹25,000–₹40,000 depending on the city
- Credit score of 750 or above for the best rates
- At least 1 year of total work experience, 6 months with the current employer
Documents required
- PAN, Aadhaar and address proof
- Last 3 months salary slips
- Last 6 months bank statements showing salary credits
- Employment proof or offer letter
Frequently asked questions
Rates run from about 10.5% at large banks for strong salaried profiles to over 24% at fintech lenders for thin-file applicants. Your credit score and employer category are the main determinants.
Pre-approved offers can be credited within hours. A fresh application with income documents usually takes one to three working days once the file is complete.
Yes. Each formal application is a hard enquiry, and several within a short window signal credit hunger and lower your score. Check eligibility first, then apply to one or two.
Personal Loan calculators
Run the numbers before you speak to a lender — it is the difference between negotiating and accepting.
Know your number before you apply
Check eligibility and EMI here first. A formal application leaves a hard enquiry on your credit file — these calculators do not.