Personal Loan for a better future
Online Application
Compare personal loan offers from our 100+ finance partners and apply online within a few minutes.
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Check your personal loan eligibility for personal loan with Personal Loan EMI Calculator.
Instant Disbursal
On successful approval, get an instant disbursal of loan amount directly to your account.
Trending Loan Offers
IDFC First Bank
Personal Loans
- Flexible repayment options
- Fast & hassle free online processing
Enjoy Processing Fee Rs. 6999, till 30th Sep'21
ICICI Bank
Personal Loans
- Flexible repayment options
- Fast & hassle free online processing
Enjoy Processing Fee Rs. 6999, till 30th Sep'21
HDFC Bank
Personal Loans
- Flexible repayment options
- Fast & hassle free online processing
Enjoy Processing Fee Rs. 6999, till 30th Sep'21
- Current lowest personal loan interest rates start from 10.25% p.a.
- Compare 100+ personal loan banks at FinCapitevo and choose the best one.
- Check fees & charges of all top banks offering personal loans in India.
- Get flexible tenure of 36 to 84 months to repay the loan.
- Submit online loan application and get instant loan approval
- Personal Loan amount can be used for any personal purpose, including marriage, education, medical emergency, shopping, travel, etc.
- No collateral or security required as personal loans are unsecured loans.
- You can get a personal loan through the best instant loan app in India or through online lending marketplaces.
- The rate of Interest: The Rate of Interest on Personal Loans starts with 10.25% depending on your credit score, income and so forth.
- Loan amount: You can get a loan online for as low as 20,000 and as high as Rs. 1 Cr. depending on your requirement and eligibility.
- Loan tenure: Personal loans are available for periods as short as 12 months. The average tenure for a Personal Loan is between 12 and 60 months, depending on the loan amount.
- Security: Due to its unsecured nature, collateral is not required.
- Loan turnaround time: A Personal Loan typically has the fastest turnaround time in the industry. Many banks personal loan online approval within 48 hours after submission of the online application.
- Processing fees: It depends on the individual bank. It usually 3.5% of the loan amount.
- Prepayment penalty: Banks charge prepayment penalty if you repay your Personal Loan before the determined period. The charges range between 1-2% of the outstanding amount on the date of closure.
| Occupation | Salaried employees, self-employed professionals, self-employed non professionals, and business owners |
| Age | Minimum 21 years at loan application and maximum 65 years at loan maturity |
| Monthly income | 15,000 |
| Job/business continuity | 2 years continuous job or 3 years continuity in business |
| ITR | Last 2 years IT returns |
| Credit score | 700 & above |
*Personal loan eligibility criteria may differ from bank to bank.
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An unsecured loan like a personal loan can affect your CIBIL score negatively. So, even with the Best Personal Loan In India, you need to keep some tips in mind:
- Avoid taking personal loans for business requirements
- Repay personal loans on time to avoid issues with your CIBIL score.
- Apply for a personal loan only when you have no other resources for financing.
- Only apply for the loan amount that you need immediately.
You can consider applying for a personal loan for a marriage in your family, to bear educational expenses, for vacation abroad, debt consolidation, home renovation, or any other purposes.
Approving any loan is the prerogative of the bank. There are various reasons for rejection of the Personal Loans.
- You might be having many loans outstanding. The possible solution is to bring in a co-borrower. Your working spouse can join as a co-borrower. You can also try to reduce your existing liabilities by closing some of your loans.
- You might have an adverse credit score. Check your credit report and go through it in detail. There can be errors in your report. Dispute them if necessary and take the steps needed to rectify your credit report. Remember, you need a minimum credit score of 650 to 700 to be eligible for a Personal Loan.
- Foreclosure is the situation where the borrower wishes to close the entire principal outstanding before the completion of the tenure of the loan. Part-prepayment is when the customer does not close the entire loan but attempts to repay a portion of the outstanding amount.
- Many banks charge a prepayment penalty ranging from 2% to 5% of the loan outstanding when you try to prepay your loan liability. Some banks have a lock-in period when you cannot foreclose the loan.
- Generally, the minimum loan amount is around 50,000,and the maximum amount can go up to 50 Lakhs depending on your eligibility. The banks like to have a personal discussion with borrowers before approving higher Personal Loan limits.
- A credit score is a 3-digit number varying between 300-900. It represents a borrower’s creditworthiness. A higher credit score signifies a good credit history and responsible repayment behaviour. It also increases the borrower’s chances for loan approval as lenders believe that you have the ability to repay your loan.
The banks do not have any collateral to fall back on in case of default. The only recourse available to the banks is to file a civil suit in the court of law.
Each bank or NBFC offers various features and benefits. To find the Best personal loan in India, it is best that you compare all the current offers and choose one that suits you the best.
You can get loans of up to Rs.50 Lakhs. However, the maximum loan quantum depends on the lender and the eligibility factors that the borrower fulfills.
No. Personal loans are unsecured loans. So, you do not have to provide any security or collaterals.