Personal Loan Eligibility Finder
Choose your income & credit profile to see lenders likely to approve your loan.
Select details to estimate approval probability.
HDFC Bank Personal Loan
9.99% – 24% p.a.
Pre-approved users may receive funds instantly via digital process.
- Tenure: 12 – 60 months
- No guarantor required
- Best for salary ₹25k+ & CIBIL 700+
SBI Personal Loan
10.05% – 15.05% p.a.
Lower interest loan ideal for salaried and government employees.
- Tenure up to 84 months
- Better for salary account holders
- Recommended CIBIL 680+
Moneyview App Personal Loan
16% – 34% p.a.
Quick digital personal loan suitable for new borrowers and low income users. Approval check takes about 2 minutes with minimal documentation.
- Minimum salary: ₹15,000+
- Tenure: 3 – 60 months
- 100% online application
- Direct bank transfer after approval
Fi Money Instant Personal Loan
12% – 32% p.a.
100% digital loan marketplace offering multiple lender offers in one application. Suitable for salaried users looking for quick approval and flexible repayment options.
- Salary required: ₹20,000+
- Tenure: 6 – 60 months
- Fast disbursal after approval
- Preclosure free on select lenders
Aditya Birla Capital Digital Personal Loan
10.99% – 32% p.a.
Paperless personal loan with digital approval and flexible repayment. Suitable for salaried professionals and business owners needing quick funds without collateral.
- Loan amount up to ₹5,00,000
- Tenure: 12 – 84 months
- Minimum income: ₹25,000+
- Recommended CIBIL: 700+
Hero FinCorp Digital Personal Loan
19% – 32% p.a.
Fully digital unsecured loan designed for quick disbursal. Suitable for salaried and self-employed borrowers needing fast funds without collateral.
- Tenure: 12 – 36 months
- Minimum income: ₹25,000+
- Preferred CIBIL: 700+
- Direct bank transfer after approval
Bajaj Finserv Personal Loan
14% – 32% p.a.
Digital personal loan offering fast approval and flexible repayment. Suitable for salaried professionals and self-employed borrowers looking for higher eligibility limits.
- Tenure: 2 – 96 months
- Minimum income: ₹30,000+
- Recommended CIBIL: 720+
- Multiple loan products available
No suitable loan found.
⭐ Recommended for you
Offers based on your loan profile & financial needs
Before You Take a Personal Loan (Real Advice)
We will tell you honestly — a loan is not extra income. It is your future salary used today.
Example:
If you borrow ₹2,00,000 for 36 months, you may repay around ₹2.8L – ₹3.2L total depending on lender.
If you borrow ₹2,00,000 for 36 months, you may repay around ₹2.8L – ₹3.2L total depending on lender.
So please don’t take loan for show-off expenses like expensive phone, vacation or unnecessary shopping.
Loan should be used only for real need: medical emergency, education, house repair or business work.
How to Choose the Right Lender
1️⃣ Try Bank first (HDFC / SBI)
2️⃣ If rejected → NBFC (Bajaj, Aditya Birla)
3️⃣ Need fast → Digital lenders
4️⃣ Low salary → Last option apps
Apply slowly. Don’t apply everywhere in one day. Multiple applications reduce your credit score.
Important Safety Warning
Never share OTP, card details, or bank login with anyone claiming to be loan agent.
Some fake apps misuse contact list and start harassment calls if EMI delayed. Always choose RBI-regulated lenders only.
If someone asks payment before loan approval → it is likely a scam.
Common Questions
Will checking eligibility affect my CIBIL score?
No. Most lenders perform a soft check first. Your score is affected only after final loan approval process.
How much salary needed for personal loan?
Usually ₹15,000–₹30,000 minimum depending on lender. Higher salary increases approval chance and lowers interest.
How fast will I receive money?
Pre-approved users may receive money within minutes. Normal approval usually takes 24 hours to 3 days.
Can self-employed get loan?
Yes, but you may need ITR or bank statements. NBFC lenders approve self-employed more easily than banks.
Easemoney Disclaimer
Easemoney is not a bank or loan provider. We only help you compare lenders and check eligibility through official partner platforms.
Loan approval, interest rate, charges and disbursal are decided completely by the lender.
By clicking “Check Eligibility”, you may be redirected to a third-party website.
💳 Personal Loan EMI Calculator
Adjust loan amount, interest and tenure to check your real monthly EMI.
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Total Interest: ₹0
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| Month | EMI | Principal | Interest | Balance |
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What is Personal Loan EMI Calculator? ▼
An EMI calculator estimates your monthly repayment amount based on loan amount, interest rate and tenure.
It helps you decide safe loan size before applying and prevents repayment problems later.
This EMI is an estimate. Banks may slightly change EMI due to processing fee, GST, broken interest (first EMI), or last EMI adjustment as per loan policy.
📘 What is a Personal Loan? (India)
A personal loan is a bank loan where money is given to you **without any collateral**.
You don’t need to submit land papers, gold, vehicle, or property security.
Banks and NBFC companies transfer the amount directly to your bank account, and you repay every month through EMI.
🏦 How Bank Decides Approval
The bank is not checking your house — the bank is checking your financial behaviour. Approval mainly depends on:
- Monthly income or business earnings
- CIBIL / credit score
- Past loan repayment record
- Job stability
📊 Key Characteristics
💳 No Collateral
No property papers, gold, or vehicle required. Fully unsecured loan.
🎯 Multipurpose Use
You can use money for marriage, medical, education, house repair, or clearing credit card dues.
💰 Loan Amount
Normally ₹50,000 to ₹40–50 lakh depending on income and profile.
📅 Tenure
Repayment period 12–60 months (1–5 years). Some lenders allow longer tenure.
📊 EMI Repayment
Monthly EMI includes both principal amount and interest.
⚡ Fast Approval
Pre-approved customers may get approval within minutes digitally.
⚠ Real Advice:
In many tier-3 cities people take the maximum eligible loan amount. Later EMI becomes heavy and penalties start. Always decide EMI first — not loan amount.
In many tier-3 cities people take the maximum eligible loan amount. Later EMI becomes heavy and penalties start. Always decide EMI first — not loan amount.
💡 Easemoney Tip:
Before applying, keep your credit card bill paid and bank balance positive for at least 30 days. Many banks automatically improve approval chances if recent transactions look healthy.
Before applying, keep your credit card bill paid and bank balance positive for at least 30 days. Many banks automatically improve approval chances if recent transactions look healthy.
🧮 Simple Example
If you take ₹2,00,000 loan for 3 years, you may repay around ₹2.5 lakh. Extra amount is interest for getting money immediately without collateral.
✔ In simple words:
A personal loan is like taking advance money from the bank today and slowly returning it monthly with interest. Useful in emergency — but should always be taken within your repayment capacity.
A personal loan is like taking advance money from the bank today and slowly returning it monthly with interest. Useful in emergency — but should always be taken within your repayment capacity.
📊 Personal Loan Interest Rates in India (2026)
Personal loan interest rates in India generally range from 8.75% to 24% per year for major banks.
NBFC companies and loan apps may charge higher rates — sometimes up to 36% to 44% p.a. for higher-risk or low credit score borrowers.
Why personal loan interest is higher?
A personal loan is an unsecured loan. Bank does not take property, gold, or vehicle as security. Because the bank takes more risk, the interest rate becomes higher compared to home loan or gold loan.
A personal loan is an unsecured loan. Bank does not take property, gold, or vehicle as security. Because the bank takes more risk, the interest rate becomes higher compared to home loan or gold loan.
Factors Influencing Your Interest Rate
📈 Credit Score (CIBIL)
750+ score usually qualifies for lowest rates. Below 650 score → interest increases significantly.
750+ score usually qualifies for lowest rates. Below 650 score → interest increases significantly.
💼 Income & Employer
Government employees and stable salaried professionals often receive better interest than self-employed borrowers.
Government employees and stable salaried professionals often receive better interest than self-employed borrowers.
🏦 Existing Bank Relationship
Salary account holders and pre-approved customers may get special lower rates.
Salary account holders and pre-approved customers may get special lower rates.
📆 Loan Amount & Tenure
Longer tenure reduces EMI but increases total interest paid over time.
Longer tenure reduces EMI but increases total interest paid over time.
Market Overview (2026)
| Lender Type | Interest Rates | Max Loan Amount |
|---|---|---|
| Public Banks | 10.05% – 15.05% | Up to ₹35 Lakh |
| Private Banks | 9.99% – 24% | Up to ₹75 Lakh |
| NBFC Companies | 10.25% – 42% | Up to ₹55 Lakh |
| Digital / Loan Apps | 14% – 38% | Up to ₹10 Lakh |
⚠️ Important:
Many borrowers notice first EMI or last EMI becomes slightly higher.
This happens due to broken interest days, processing fee adjustment, or bank rounding rules.
RBI Rules (From 2026)
• No foreclosure or part-payment charges on floating-rate personal loans (for individuals)
• Credit score now updates every 7 days (faster CIBIL impact)
• Lenders must provide a Key Fact Statement (APR including all hidden charges)
• No foreclosure or part-payment charges on floating-rate personal loans (for individuals)
• Credit score now updates every 7 days (faster CIBIL impact)
• Lenders must provide a Key Fact Statement (APR including all hidden charges)
🏦 Top 10 Personal Loan Providers in India (2026)
In 2026, the best personal loan lenders differ based on interest rate, speed of approval and digital processing.
Public sector banks usually provide lowest rates, while private banks and fintech lenders focus on instant approval and paperless loans.
Bank of Maharashtra
HDFC Bank
Axis Bank
State Bank of India (SBI)
ICICI Bank
IDFC FIRST Bank
Kotak Mahindra Bank
IndusInd Bank
Bajaj Finserv
Tata Capital
Credit Score Tip:
Most advertised starting interest rates (around 9.99%) are only available if your CIBIL score is 750 or above.
Most advertised starting interest rates (around 9.99%) are only available if your CIBIL score is 750 or above.
Important:
Always check the RBI-mandated Key Fact Statement (KFS). It shows the real Annual Percentage Rate (APR) including processing fee (usually 0.5%–3%) and other hidden charges.
For small instant loans (₹50K–₹5L), apps like Moneyview, Fibe and KreditBee are faster but interest rates are higher.
Always check the RBI-mandated Key Fact Statement (KFS). It shows the real Annual Percentage Rate (APR) including processing fee (usually 0.5%–3%) and other hidden charges.
For small instant loans (₹50K–₹5L), apps like Moneyview, Fibe and KreditBee are faster but interest rates are higher.
📲 How to Apply for a Personal Loan Online (India)
Today personal loans are completely digital.
Depending on your profile, approval can take **10 seconds (pre-approved users)** to **24–48 hours** for normal applications.
1
Check Eligibility
Open the bank or lender website/app and check your loan eligibility, amount and interest rate based on your salary and credit score.
2
Verify Mobile Number
Enter your mobile number and verify using OTP. This connects your application to your Aadhaar and PAN records.
3
Fill Basic Details
Provide your name, PAN card, date of birth, pincode, employment type (salaried or self-employed) and monthly income.
4
Select Loan Offer
Choose the loan amount and EMI tenure offered to you by the lender.
5
Digital KYC
Complete Aadhaar-based Video KYC or upload PAN + Aadhaar documents online.
6
Income Verification
Upload last 3–6 months bank statements or connect your bank account securely (Account Aggregator).
7
Auto Debit Setup (E-NACH)
Set auto EMI deduction from your bank account using net banking or debit card mandate.
8
Digital Signing
Read loan agreement and sign electronically using Aadhaar OTP.
9
Disbursal
After approval, money is credited directly to your bank account.
⚡ Easemoney Quick Eligibility Tool
Instead of applying blindly to many banks, first check where your approval chance is highest.
This avoids CIBIL score damage due to multiple rejections.
Check Loan Eligibility Now
Easemoney Tip:
First check your primary salary account bank (SBI, HDFC, Axis etc). Many users already have pre-approved offers requiring almost zero documents.
First check your primary salary account bank (SBI, HDFC, Axis etc). Many users already have pre-approved offers requiring almost zero documents.
Important Advice:
Never apply to 5–6 apps together. Every loan application creates a CIBIL enquiry. Too many enquiries within 15–20 days can reduce your credit score and future loan approvals.
Never apply to 5–6 apps together. Every loan application creates a CIBIL enquiry. Too many enquiries within 15–20 days can reduce your credit score and future loan approvals.
📄 Personal Loan Eligibility, Salary & Documents (India 2026)
Banks mainly approve personal loans based on **income stability**.
If the bank feels your monthly income can comfortably pay EMI → approval becomes easy.
👨💼 Salaried Employees
Easiest approval category.
Minimum salary usually ₹15,000 (small towns) to ₹25,000 (metros).
🏪 Self-Employed / Small Business
Business must run 2+ years.
ITR income generally ₹2–5 lakh annually required.
💻 Freelancers / Creators
Possible through fintech lenders if you show 6–12 months regular bank credits.
🎓 Students / Housewives
Normally not eligible.
Alternative: Co-applicant or Loan Against FD/Gold.
Digital Must-Haves:
✔ CIBIL Score: 750+ gives lowest interest
✔ PAN Card: Mandatory for financial tracking
✔ Aadhaar + OTP mobile linked required
✔ Video KYC verification (live camera verification)
✔ CIBIL Score: 750+ gives lowest interest
✔ PAN Card: Mandatory for financial tracking
✔ Aadhaar + OTP mobile linked required
✔ Video KYC verification (live camera verification)
| Requirement | Salaried | Self-Employed / Creator |
|---|---|---|
| ID & Address | Aadhaar, PAN, Passport | Aadhaar, PAN, GST/Business proof |
| Income Proof | Last 3 salary slips | Last 2 years ITR |
| Bank Statement | 6 months salary account | 6–12 months current/savings account |
| Digital | Aadhaar OTP | Aadhaar OTP |
Quick Apply Process:
1) Check pre-approved offer in bank app
2) Enter PAN & Aadhaar
3) Complete Video-KYC
4) Bank statement fetch (Account Aggregator)
5) e-Sign agreement
6) Money credited (minutes to 24 hours)
1) Check pre-approved offer in bank app
2) Enter PAN & Aadhaar
3) Complete Video-KYC
4) Bank statement fetch (Account Aggregator)
5) e-Sign agreement
6) Money credited (minutes to 24 hours)
Easemoney Tip:
Most rejections happen due to low CIBIL or unstable salary credits. Even ₹5,000 EMI becomes risky if your salary is irregular. Try keeping at least **3 months continuous salary credit** before applying.
Most rejections happen due to low CIBIL or unstable salary credits. Even ₹5,000 EMI becomes risky if your salary is irregular. Try keeping at least **3 months continuous salary credit** before applying.
⚠ Important Warning
Avoid unknown instant loan apps. Only apply to RBI-registered banks or NBFCs. Always check: • Company name
• Play Store rating
• Key Fact Statement (KFS)
Never pay any “processing fee” before approval — real lenders deduct charges only after sanction.
Avoid unknown instant loan apps. Only apply to RBI-registered banks or NBFCs. Always check: • Company name
• Play Store rating
• Key Fact Statement (KFS)
Never pay any “processing fee” before approval — real lenders deduct charges only after sanction.
💰 Personal Loan Charges in India (2026)
The real cost of a personal loan is not only interest rate.
As per new RBI guidelines, lenders must now clearly disclose all fees and hidden costs before you sign the loan agreement.
1️⃣ Mandatory Upfront Charges
- Processing Fee: 0.5% – 6% of loan amount (often non-refundable)
- GST: 18% tax applied on all fees
- Stamp Duty: State government agreement charges
- Verification Charges: ₹500 – ₹2,000 for address/credit verification
2️⃣ Hidden Insurance (Loan Protection)
- Personal loan insurance is not mandatory in India
- Some lenders add premium (ex: ₹10,000) into loan amount
- You end up paying interest on the insurance also
- RBI rule: bank must take your clear consent
3️⃣ Repayment & Closure Costs
- Pre-EMI: Interest charged before your first EMI date
- Foreclosure Charges: 0% for floating-rate loans (new 2026 rule)
- Fixed Rate Loans: 2% – 6% foreclosure fee may apply
- Lock-in Period: No closure allowed first 6–12 months
4️⃣ Penalties & Service Fees
- Late Payment Penalty: 2% – 4% per month
- EMI Bounce: ₹300 – ₹500 + bank bounce fee
- Account Change: ~₹500 swap charges
- Duplicate Statement: ₹100 – ₹500
Easemoney Tip:
Personal loan interest is higher than home or gold loan because it is collateral-free. Bank is taking risk on your income — not on property — so they charge higher rates.
Personal loan interest is higher than home or gold loan because it is collateral-free. Bank is taking risk on your income — not on property — so they charge higher rates.
Very Important:
Always ask for the KFS (Key Fact Statement). This document shows the real Annual Percentage Rate (APR) including all hidden charges.
Always ask for the KFS (Key Fact Statement). This document shows the real Annual Percentage Rate (APR) including all hidden charges.
⚠ Borrower Warning
Never accept loan immediately on phone call. Always read terms & conditions and check lender name on RBI website. Many fraud apps charge advance fee but never disburse loan.
Never accept loan immediately on phone call. Always read terms & conditions and check lender name on RBI website. Many fraud apps charge advance fee but never disburse loan.
📊 Types of Personal Loans & How to Choose the Right One
Not every personal loan is the same.
Banks and NBFCs now provide purpose-based loans and choosing the wrong one can make you pay thousands extra in interest.
💍 Wedding Loans
Higher loan limits for marriage expenses.
Some lenders allow 2–3 months EMI grace period.
🏥 Medical Emergency Loans
Very fast approval (sometimes under 5 minutes).
Often reduced or zero processing fees for hospital partners.
✈️ Travel Loans
Usually ₹50K–₹5L loan with short tenure (12–24 months).
🏠 Home Renovation Loans
Lower interest compared to standard personal loan when used for property improvement.
💳 Debt Consolidation Loan
Combines multiple credit cards/loans into one EMI and lowers monthly burden.
➕ Top-Up Loan
Extra funds on existing loan without fresh full application or paperwork.
How EMI Repayment Works
• NACH Auto-Debit: EMI deducted automatically every month
• Standing Instruction: safest if loan is from your salary bank
• Part-payment: reduces principal and total interest
• Early closure: allowed after lock-in period
• NACH Auto-Debit: EMI deducted automatically every month
• Standing Instruction: safest if loan is from your salary bank
• Part-payment: reduces principal and total interest
• Early closure: allowed after lock-in period
How to Choose the Right Personal Loan (Very Important)
- Do not select loan based only on low EMI — longer tenure = more interest paid.
- Always compare APR (Annual Percentage Rate), not just interest rate.
- Ensure loan is Reducing Balance interest (never flat rate).
- Check processing fee and insurance before accepting the offer.
- If salary is ₹20k–₹30k, avoid EMI above ₹8k–₹9k.
- Choose lender where you already have salary account for faster approval.
- Prefer lenders with mobile app — easier statements, certificates and part-payment.
- If you expect bonus/incentives, choose loan with flexible prepayment.
- For small loans (₹50k–₹2L), fintech lenders are faster but slightly costlier.
Easemoney Tip:
Biggest mistake borrowers make — they take maximum eligible loan amount. Correct method: take only the amount where EMI stays below **30–35% of your monthly salary**.
Biggest mistake borrowers make — they take maximum eligible loan amount. Correct method: take only the amount where EMI stays below **30–35% of your monthly salary**.
⚠ Safety Advice
Before sharing PAN or Aadhaar, verify the lender on RBI Sachet portal. Never install unknown loan apps from SMS or WhatsApp links.
Before sharing PAN or Aadhaar, verify the lender on RBI Sachet portal. Never install unknown loan apps from SMS or WhatsApp links.
⚖️ Personal Loan: Advantages, Disadvantages & Safety Rules
Personal loan is helpful — but only if used carefully.
It is the fastest loan in India, and also the fastest way people fall into EMI problems when taken without planning.
✅ Advantages
- No collateral — your house, gold or vehicle is not at risk
- Can use for any purpose (medical, wedding, emergency, repair)
- Very fast approval (sometimes minutes)
- Flexible tenure 12 to 84 months
- Fully online — no branch visit required
⚠ Disadvantages
- Higher interest than home or gold loan (9%–24%)
- Late EMI directly reduces CIBIL score
- Easy approval causes over-borrowing
- Processing fee + GST increases real cost
- Insurance & hidden charges sometimes added
✔ Do’s (Always Follow)
- Check your CIBIL score first (750+ ideal)
- Compare APR in Key Fact Statement (KFS)
- Take reducing balance interest loan only
- Keep EMI below 40% of salary
- Read lock-in period and charges before accepting
❌ Don’ts (Very Important)
- Do not apply to 5–6 banks together
- Never take loan for trading, crypto or gambling
- Do not hide existing loans
- Do not click unknown WhatsApp loan links
- Never accept insurance added silently in loan amount
Easemoney Real Advice:
Personal loan should solve a problem, not create a lifestyle. Take it for emergency, medical or important need — not for phone upgrade, vacation or impulse shopping. If you plan EMI first and loan second, you will stay financially safe.
Personal loan should solve a problem, not create a lifestyle. Take it for emergency, medical or important need — not for phone upgrade, vacation or impulse shopping. If you plan EMI first and loan second, you will stay financially safe.
❓ Frequently Asked Questions
Real questions people usually ask before applying loan.
What minimum salary required for personal loan? +
Usually ₹15,000 in small cities and ₹25,000 in metro cities. Some apps approve lower but interest becomes high.
What CIBIL score needed? +
750+ gives best interest rates. 650–700 still possible but costlier loan. Below 600 mostly rejection.
How fast loan amount comes in account? +
Pre-approved bank users: few minutes. Normal application: 24 to 48 hours after verification.
Is personal loan safe? +
Yes if taken from RBI registered bank/NBFC. Avoid unknown apps or WhatsApp loan links.
Can I close loan early? +
Yes. Floating rate loans usually zero foreclosure charges after lock-in period.
Does checking eligibility reduce CIBIL? +
Soft checks do not affect score. Multiple loan applications (hard inquiries) reduce score.
Can self-employed get personal loan? +
Yes, but banks require 2 years ITR or bank statements to prove stable income.
Why bank rejected my loan? +
Low credit score, high EMI burden, unstable job, or recent loan inquiries are common reasons.
Can I get loan without salary slip? +
Some fintech lenders allow using bank statement instead of salary slip.
What happens if EMI bounces? +
Penalty charges apply and your CIBIL drops immediately. Multiple bounces damage credit profile.
Is Aadhaar mandatory? +
For online KYC yes, because OTP verification and e-sign use Aadhaar linked mobile.
Can students get personal loan? +
Not directly. They need co-applicant or secured loan like FD loan.
Do banks give pre-approved loan? +
Yes. If salary account history is strong, banks offer instant loans without documents.
What EMI is safe? +
EMI should stay below 30–40% of monthly salary to avoid repayment stress.
Is processing fee refundable? +
Mostly no. Even if you cancel later, bank keeps processing fee.