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Loan Amount : Min Limit- 50,000/- & Max Limit- 50,00,000/-

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Features and Benefits of Personal Loans:

Personal loans come with no restrictions on how the funds are used.
The loan amount can go up to Rs. 40 lakh, or even higher based on the discretion of the lenders.
Repayment tenure ranges from a minimum of 3 months to a maximum of 5 years, banks/NBFCs offering longer durations.
Minimal documentation is required to apply for a personal loan.
Quick disbursals ensure fast access to the funds.
Individuals with excellent credit profiles may qualify for pre-approved or pre-qualified personal loans, which come with instant disbursal.

Eligibility Criteria for Personal Loans:

Age: 18 â€“ 60 years
Income: Minimum Rs 15,000/month for salaried applicants
Credit Score: Preferably 750 and above as higher credit scores increase chances of approval at lower interest rates
Eligible only for individuals receiving their salary in a bank account

How We Work

How we profit:

Our services are offered at zero cost to users. You can apply for a loan with us without incurring any application or hidden fees. Instead, we shift the charge to lenders and potential lenders interested in reviewing your information through our site.

We are not a lender:

We are not a lender and do not broker loans to lenders or make decisions regarding loans or credit. It is not an agent, representative, or broker of any lender and does not endorse any lender or charge you for any service or product. This website does not constitute an offer or solicitation to lend. This site allows you to submit the information you provide to a lender. We exercise no control over our networkâ€™s lenders or lending partners and are not responsible for any of their actions. We are not their agents or representatives. The loan request you submitted on our website is not a loan application.

Loan offers:

We analyse your loan application to find the best offer for you from our network of lenders. However, despite our large network, we do not have access to all lenders or loan products. Therefore, the offer you receive on our website might not always be the best option for you. Hence, you should make an informed decision after considering all offers from different platforms to make the best decision for your unique situation.

Illustrative example:

If you borrow ₹5,000 over a 48-month period with an arrangement fee of 8% (₹400), your monthly repayments will be ₹131.67, with a total repayment amount of ₹6,320.12, which including the 8% arrangement fee would amount to a cost of ₹1,720.12. This is representative of 18.23% APR.

APR & Interest rates:

The APR can range from 5.99% to 35.99%. We have no control over the actual APR offered to you by the lenders. The APR offered to you is dependent on various factors like loan amount, tenure, credit score, and interest rate. The minimum tenure for a loan is 61 days.

Availability of services:

While we have an extensive network of lenders, not all of them may offer their services at your location. Depending on their internal policies, different lenders choose not to extend services to various locations.

Credit score:

Credit scores are used by lenders to assess your ability to manage finances and repay debt. Your credit score is calculated by credit bureaus like CIBIL by taking factors like income, debt, and credit history into account. The loan options and interest rates offered to you by lenders might be dependent on your credit score.

Loan guarantee:

The completion of a loan application on our website does not guarantee loan approval. The lenders assess your application to determine loan eligibility and the amount that you are eligible for. While we strive to process loan applications within 24 hours, funds might take longer to get transferred in some instances. All information provided on this site must be taken as opinion, and users should perform due diligence and research before making financial decisions.

Personal loan interest rates and applicable charges

TYPE OF FEE

Applicable charges

RATE OF INTEREST

8% to 35% p.a.

PROCESSING FEES

Up to 3.93% of the loan amount (inclusive of applicable taxes).

FLEXI FEE

Term Loan â€“ Not applicable
Flexi variant â€“ A fee will be deducted upfront from the loan amount (as applicable below):
- Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
- Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
- Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
- Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 8,99,999
- Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
- Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
- Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
- Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
- Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the fees above are inclusive of applicable taxes.

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

BOUNCE CHARGES

In case of default of repayment instrument, Rs. 700 â€“ Rs. 1,200 per bounce will be levied.

PRE-PAYMENT CHARGES

Full Prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
- Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
- Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment.
Part-prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of the loan prepaid on the date of such part-prepayment.
- Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

PENAL INTEREST

Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment.

STAMP DUTY

Payable as per state laws and deducted upfront from loan amount.

MANDATE REGISTRATION CHARGES

Re. 1 (inclusive of applicable taxes) applicable in case of UPI mandate registration.

MANDATE REJECTION CHARGES

Rs. 450 per month from the first month of the due date for the mandate rejected by customerâ€™s bank until the registration of new mandate.

ANNUAL MAINTENANCE CHARGES

Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.

BROKEN PERIOD INTEREST / PRE-EMI INTEREST

Broken period interest/ Pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 â€“ More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
- For Term Loan: Deducted from the loan disbursement
- For Flexi Term Loan: Added to the first instalment
- For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 â€“ Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

SWITCH FEE

Up to 1.18% of the loan amount (inclusive of applicable taxes). Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be applicable.