A personal loan is usually unsecured: you do not pledge property or gold. Because the lender relies on your income and credit history alone, the rate is usually higher than for a secured loan and the term shorter.
Personal loan products from lenders
No lender's product of this kind is listed yet. Products appear here only with details checked on the lender's own published pages.
What lenders usually look at
- Regular income and the kind of employer or business
- Credit history and credit score
- Existing EMIs compared with your income
- Age and where you live
General guidance, not any lender's rules. Each lender sets its own criteria.
Papers lenders commonly ask for
- Identity and address proof (for example Aadhaar, PAN, passport or voter ID), as the lender asks
- PAN card
- Recent photographs
- Income proof: recent salary slips, Form 16 or bank statements for salaried applicants; income tax returns and business or professional records for the self-employed
- Bank statements for the period the lender asks for
Share documents only through the lender's official channels. Finobazaar does not ask for them with an inquiry.
Before you sign
- Compare the total cost, not only the interest rate: processing fee, other charges and taxes are added to what you pay.
- Borrow only what you need: a longer term lowers the EMI but raises the total interest.
- Ask how prepayment, part-payment and foreclosure work and whether any charge applies to your loan.
- Be careful with loan apps and callers who ask for fees in advance, access to your contacts, or OTPs.
- Borrow only from a bank or a company regulated to lend. Check the lender on the regulator's website if you are unsure, and never pay anyone an upfront "approval fee" outside the lender's official process.
Calculators
- Personal loan EMI calculator
- EMI calculator
- Loan eligibility calculator
- Loan prepayment calculator
- Loan comparison calculator
Calculators give estimates from the figures you enter; they do not use any lender's rate and are not an offer or a promise of eligibility.
Questions
Is a personal loan approved instantly?
Lenders decide after checking your details; how long that takes depends on the lender. An estimate from a calculator or an inquiry on Finobazaar is not an approval.
Have a question about this loan?
Send an inquiry and a member of the Finobazaar team will call you back. It is not a loan application: nothing is sent to a lender unless you agree.