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Frequently Asked Questions

GETTING STARTED

Loans can be used for a variety of reasons. A Personal Loan can be used for weddings, education, travel, medical or any other general purposes. You can take a Personal Loan when you need money to fund an event or an emergency.

The mandatory documents are:

  • Bank Statements for the last three months
  • Salary Slips for the last three months
  • Address Proof and Identity Proof documents
No, for Personal Loan you don’t need to provide any security, collateral or guarantors.

Here’s why our Personal Loan is perfect for you:

  • Quick loan payment
  • No collateral or security needed
  • Minimal documentation
  • Flexible EMI plans and many repayment options
One of the biggest personal loan benefits is that it can help you arrange funds for any purpose. If you need money for a medical emergency or a last-minute trip, a loan can help you. Or, if your savings are locked in investments but you need cash, take a personal loan. Apply online with zero paperwork and enjoy quick disbursal.

LOAN DETAILS (AMOUNT & TENURE)

We provide Personal Loans from a minimum of ₹ 75,000 to a maximum of ₹ 1,00,00,000/- depending on your eligibility.

You have the option to choose what works best for you while repaying the personal loan. You can go for the fixed amount of loan and interest or can pay higher/lower EMIs in the initial months, lower/higher EMIs at the later months depending on your income. Do check our EMI Calculator page for more details.

Your personal loan interest rates depend on your credit score, monthly income, job stability, loan amount, and tenure.

If you have a high credit score, have a good repayment record, and earn a high monthly salary, you will easily qualify for a loan and get low interest rates. As a result, your net personal loan interest component will reduce.
 

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ELIGIBILITY

It is important to have a good CIBIL score. But this should not stop you from applying for a Personal Loan. Approval of Personal Loans depends on your ability to repay.
If you need a Personal Loan and have a low CIBIL score, you have the option to take a joint loan with your spouse or parent. However, approval of Personal Loans depends on your ability to repay.
Credit report provides details on your financial status and your ability to repay a Personal Loan. This helps us evaluate your financial history. A good credit report with a score of 750 will help you take a loan easily.
Your personal loan eligibility depends on your income, credit score, job stability, and work experience. These factors also decide the loan amount you can borrow from your lender. So, you should perform a personal loan eligibility check before applying. Checking your loan eligibility in advance will make your loan approval process much smoother.

The two criteria for personal loan used for determining your total loan amount are:

  • Debt to income ratio: This ratio is your EMI pay-out divided by your total monthly income. Your DTI ratio should be well below 50% for high personal loan eligibility.
  • Monthly income method: Typically, you can get a loan of up to 30 times your monthly income.

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