Personal Loan Faqs

What is a Personal Loan?

A Personal Loan is an unsecured loan that can be used to meet various personal financial needs, from medical expenses to travel.

When should I consider a Personal Loan?

Personal Loans are suitable for expenses like home improvement, weddings, education, or emergencies.

Who is eligible to apply?

Salaried and self-employed individuals aged 21-60, with verifiable income, are eligible.

What documents are required for a Personal Loan?

Commonly required documents include recent bank statements, salary slips, and KYC documents.

What is the loan tenure for Personal Loans?

Tenures range from 12 to 60 months (Maximum), depending on the loan amount and borrower profile.

Can I prepay my Personal Loan?

Yes, prepayment is allowed. Check for applicable charges based on your loan agreement.

What is the interest rate on Personal Loans?

Interest rates vary depending on tenure and borrower creditworthiness.