A Personal Loan, as the name suggests is a loan taken to meet personal financial needs. It can be a marriage in the family, a house renovation, buying jewellery for your wife or paying for your vacation trip. These are the moments you may be looking for some urgent need for money, and which can be met by taking a Personal loan. Usually the procedure of Approval of personal loans is quick and a loan is approved with simple documentation.

Advantages of personal loans are Speedy Approval, flexibility to choose your loan amount ranging from 10000 to 10,00,000, Repayment period from 12 to 48 as per your interest, No need of collateral/security/guarantor. When it comes to Loans in India, we have a number of banks dealing with personal loans, giving attractive interest rates and competitive services. So it is always advisable for anyone to do a Loan Research before actually proceeding with a loan option from a Lender.

Eligibility criteria for taking a personal loan may vary from lender to lender. Still the following is rough information to know whether you are eligible for a Personal Loan.

Minimum age 21
Maximum Age 60
Minimum Monthly Income Rupees 5000 and above

Documents Required