1-2-3 Steps for Personal Loan

Applying for a personal loan is smooth and hassle-free and ensures quick access to funds. Read this step-by-step guide on how to apply for a personal loan:
1. Check your eligibility and apply for personal loan online
The personal loan process begins with an eligibility check. It requires minimal information - such as your details, address and income.
 

• Personal information: Name, contact details, date of birth, and employment details will be required.
• Address information: Mention your current address and pin code.

2. Customise your loan EMI
Compare different loan amounts and tenures to find an EMI that best suits your needs.
 

• Loan amount: Select the loan amount you wish to borrow.
• EMI customization: Change the loan amounts and tenures to get a comfortable EMI.

3. Verify information
Check your details and submit the loan application.
 

• KYC check: Since the loan application process is 100% paperless, KYC verification happens based on the details you submitted. Submission of any documents is not required.
• Instant credit: Upon verification and setting up an E-mandate using your bank details, the loan amount will be credited to your account.

Who is eligible to apply for a Personal Loan

A personal loan is for individuals who meet the under-mentioned eligibility criteria. To apply for the personal loan, you should:
 

• Be a citizen of India.
• Be aged between 19 and 55 years.
• Earning a minimum annual household income of at least ₹3 lakhs.
• Must be a consistent earner, whether salaried or self-employed.

Meeting these eligibility criteria will make the whole process swift, smooth and hassle-free.