Personal Loan
For a wedding, travel, medical bills or any personal need. We match you with lenders from our network of 170+ banks and NBFCs.
Step 1 of 3Loan amount
- Loan amount
- Your details
- Work and address
How much do you need?
Tell us how much you need. We will verify your mobile number with an OTP.
Personal Loan
A personal loan gives you a lump sum for almost any need, without pledging property or gold. You repay it in fixed monthly EMIs.
What is a personal loan?
A personal loan is an unsecured loan from a bank or NBFC. The lender sets the amount and interest rate based on your income, credit score and existing EMIs. You repay it over a fixed tenure.
How to apply
- 1Enter the loan amount and verify your mobile number with an OTP.
- 2Share your personal details, then your work and address.
- 3See lenders that match your profile and choose one. Our team calls you to take it forward.
Good to know
- No collateral or guarantor is usually needed
- Use it for a wedding, travel, education, medical bills or to clear costly debt
- Fixed EMIs make your monthly budget easy to plan
- Your credit score and income affect the rate you are offered
- Processing fees and prepayment charges vary by lender, so compare before you choose
Personal loan lenders compared
Indicative ranges. Each lender sets your final rate, amount and fees after checking your profile.
HDFC Bank
- Interest rate (p.a.)
- 10.50% – 16.00%
- Max loan amount
- Rs. 50 lakh
- Max tenure
- 60 months
- Processing fee
- 2% – 4%
ICICI Bank
- Interest rate (p.a.)
- 10.50% – 16.00%
- Max loan amount
- Rs. 50 lakh
- Max tenure
- 72 months
- Processing fee
- 2% – 4%
Axis Bank
- Interest rate (p.a.)
- 11.00% – 16.00%
- Max loan amount
- Rs. 50 lakh
- Max tenure
- 84 months
- Processing fee
- 2% – 4%
Kotak Mahindra Bank
- Interest rate (p.a.)
- 11.00% – 15.00%
- Max loan amount
- Rs. 50 lakh
- Max tenure
- 72 months
- Processing fee
- 2% – 4%
Typical eligibility
- Age
- 21 - 60 years
- Income
- Minimum ₹25,000/month for salaried applicants
- Credit Score
- 750 or above is preferred. A higher score can improve your chances and the rate you are offered.
Disclaimer
First Adviser is a loan aggregator and is authorized to provide loan-related services on behalf of its lending partners.
The APR (Annual Percentage Rate) of a personal loan represents the total annual cost of borrowing. It includes the interest rate along with processing fees, documentation charges, and other applicable fees associated with the loan. APR helps borrowers compare different loan offers more accurately by considering both interest rates and additional charges.
The APR on personal loans usually ranges between 10.5% – 18%, and may vary depending on factors such as the lender, loan amount, repayment tenure, applicant profile, and applicable fees. Borrowers are advised to carefully review all loan terms, charges, and repayment obligations before applying for a loan.
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Frequently asked questions
How much can I borrow?
It depends on your income, credit score and any EMIs you already pay. Each lender sets its own limit.
Do I need collateral or a guarantor?
Usually not. A personal loan is unsecured, so you do not pledge property, gold or savings.
What interest rate will I get?
The lender sets the rate based on your profile. After you apply, you can compare the rates of lenders that match you. Use our EMI calculator to plan your repayments.
What documents do I need?
Usually your PAN, Aadhaar, recent salary slips and bank statements. Self-employed applicants may need ITRs instead of salary slips. The lender tells you the exact list.
Are there processing fees or prepayment charges?
Most lenders charge a processing fee, and some charge for early closure. These vary by lender, so check the loan terms before you accept an offer.
Can self-employed people apply?
Yes. Lenders will ask for proof of regular income, such as ITRs and bank statements.
Will applying affect my credit score?
When a lender processes your application, it may check your credit report. Each check is recorded. Many applications in a short time can lower your score, so apply only where you plan to borrow.
Is my information safe?
First Adviser does not share your information with third parties without your consent. Read our privacy policy to see how we use your data.
Can I finish my application later?
Yes. Open the resume application page, enter the mobile number you applied with and verify the OTP. You continue from the step where you stopped.