Personal Loans
A Personal Loan is one of the easiest and fastest ways to meet your financial needs—whether it’s for medical expenses, travel, education, wedding, home renovation, or any urgent requirement. At ReaLoan, we simplify the entire personal loan process by helping you find the best interest rates, highest approval chances, and minimum documentation, all through a seamless online platform.
With our strong network of leading NBFCs and finance partners, we bring multiple loan options in one place so you can choose what suits you best—quickly, safely, and conveniently.
Features of Personal Loans with ReaLoan Platform
Quick Approval & Fast Disbursal
Get personal loans processed quickly through our trusted lending partners with instant eligibility checks and speedy approvals.
Flexible Loan Amounts
Apply for loan amounts starting from ₹25,000 to ₹25 Lakhs, based on your income and profile.
Attractive Interest Rates
We compare offerings from multiple lenders to help you secure the lowest possible interest rates available for your profile.
Minimal Documentation
Simple, hassle-free paperwork—most loans require only basic KYC, income proof, and bank statements.
No Collateral Required
Personal Loans are completely unsecured, meaning you don’t need to provide any property or asset as security.
Flexible Tenure Options
Choose repayment periods from 12 months to 60 months, depending on your convenience.
Why Choose ReaLoan for Personal Loans?
20+ years of industry expertise in banking & finance
Tie-ups with top NBFCs & loan distributors
High approval rates with accurate eligibility checks
Transparent and ethical guidance—no hidden charges
100% online process, with expert support at every step
Personalized loan options based on your income & needs
Need a Personal Loan Today?
Apply now and let ReaLoan match you with the best lenders offering:
Low interest rates
Quick processing
Safe documentation
Trusted guidance
FAQs
What is the minimum salary required to get a personal loan?
Most banks and NBFCs require a minimum net monthly salary of ₹15,000–₹25,000 depending on the city and profile.
Metro cities: Minimum ₹25,000/month
Tier 2 / Tier 3 cities: Minimum ₹15,000–₹20,000/month
Premium banks may require ₹30,000+ for higher loan eligibility.
NBFCs are slightly more flexible compared to banks.
What is the minimum income required for self-employed or business owners?
For business owners applying for a personal loan (unsecured), lenders typically require:
Minimum annual ITR: ₹2 lakhs to ₹3 lakhs
Business vintage: Minimum 1 to 3 years
Stable profit & banking history
Clean repayment track record
Some NBFCs may approve with ITR as low as ₹1.5 lakh, depending on cash flow and GST data.
What CIBIL score is required for a personal loan?
Most Indian lenders prefer:
750+ score: Best approval & lowest interest rates
700–749: Good chances with NBFCs and some banks
650–699: Possible, but higher interest rates and stricter documentation
Below 650: Difficult; lenders may decline unless supported by strong income or co-applicant
A clean EMI history and low credit card utilization improve approval chances.
What is the eligible age to apply for a personal loan?
Eligibility varies by lender:
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
Loan tenure must end before the maximum allowed age.
What documents are required for a personal loan?
For salaried individuals:
Aadhaar / PAN (KYC)
Salary slips (last 3 months)
Bank statements (last 6 months)
Company ID / Employment proof
Address proof
Passport-size photo
For self-employed:
PAN + Aadhaar
ITR (1–3 years)
GST returns (if applicable)
Bank statements (6–12 months)
Business proof (Shop Act, MSME Certificate, GST, etc.)
How much loan amount can I get?
Loan amount depends on income, CIBIL score, and current EMIs:
Salaried: ₹50,000 to ₹25 lakhs
Self-employed: ₹1 lakh to ₹30 lakhs
FOIR (Fixed Obligation to Income Ratio) usually must be below 50–60%
Higher income + low EMI burden = higher eligibility.
How long does it take to process a personal loan?
Banks: 24 hours to 3 working days
NBFCs: Same-day approval (in some cases within 2–4 hours)
Top-up loans: Even faster due to existing relationship
Online KYC and e-signing reduce processing time significantly.
Can I apply for a personal loan with existing EMIs?
Yes, but lenders evaluate your FOIR:
Your total EMIs should not exceed 50–60% of your net income.
If EMI burden is high, lenders may reduce the loan amount or decline.
Is a co-applicant required?
Not mandatory.
But if your CIBIL score or income is low, adding a spouse/parent/sibling as a co-applicant can:
Improve eligibility
Reduce interest rate
Increase loan amount
What are the current interest rates for personal loans?
Interest rates vary based on profile:
Banks: 10.5% to 16%
NBFCs: 12% to 24%
Low CIBIL / high-risk profiles: 18% to 28%
Can I pre-close or pre-pay my personal loan?
Yes.
Banks and NBFCs usually allow pre-closure after 6–12 months, with charges between 2%–5% of outstanding amount.
Check lender-specific terms before signing.
Does my employer/company type affect eligibility?
Yes.
Lenders categorize employers into:
A category: MNCs, Government, PSUs → best approval rates
B category: Private limited & reputed organizations
C category: Small firms, proprietorships → may require higher income or stronger CIBIL
Can I get a personal loan without salary slips?
Possible, but depends on lender.
Alternatives include:
Bank statements
Form 16
Employment certificate
Income proof from employer
For self-employed: ITR + GST + business transactions
What are the main reasons for personal loan rejection?
Low CIBIL score
High EMI / FOIR ratio
Unstable employment or frequent job changes
High credit card utilization
Multiple recent loan applications
Mismatch in documentation or KYC
Borrower Testimonials
