Frequently Asked Questions - Personal Loans

Ditch the long queues and paperwork! Applying for a personal loan online allows you to conveniently submit your application from the comfort of your own home, saving you valuable time and effort.

While the maximum personal loan amount varies, lenders typically consider two key factors: your income and existing debts.

To ensure comfortable repayments, they often won't approve loans where the monthly payment (EMI) exceeds 30% of your salary, especially for salaried employees. Additionally, they factor in your existing EMIs from other loans to assess your overall debt burden and ability to repay the new personal loan.

A personal loan offers a versatile solution for a wide range of expenses, from major purchases like appliances or home renovations to unexpected needs like medical bills or car repairs. It can even help you consolidate debt, invest in your business, or make a down payment on a new home.

Yes, you can prepay your personal loan at a nominal pre-closure rate.

The amount shall be disbursed into the bank account where ECS is set up.

The personal loan can be repaid by E-Nach mandate.