Personal Loan
Whether it's a wedding, vacation, renovating your home, a medical emergency, or meeting any other financial goal - make it happen with a personal loan designed around your needs. These tailored personal loans come with instant digital approval, making your financial journey seamless and stress-free.
So, take the first step towards your goals today with instant personal loans. A seamless online application process allows you to apply from anywhere, anytime, and receive funds quickly in your account.
Apply NowPersonal Loan Features
Online personal loans come with convenient lending terms and help address your financial needs quickly and efficiently. You can apply for a personal loan from anywhere through a website or mobile app, ensuring ease and accessibility. With instant personal loan approvals, you benefit from attractive EMI options, competitive interest rates, and flexible loan tenures aligned with industry standards.
| Personal Loans Ranging From | INR 5,000 to INR 5,00,000 |
|---|---|
| Rate of Interest | 12.75% - 44% p.a. |
| Tenure | 03 months to 42 months |
| Loan Processing Charges | 2% - 9% + GST* |
| NACH / E-MANDATE BOUNCE CHARGES (IN RUPEES) | ₹ 500/ + GST (if applicable) |
For Example:-
| Loan Amount | ₹ 20,000 |
|---|---|
| Tenure | 180 days (6 months) |
| Interest Charged | ₹ 1,426 (24% per annum) |
| Processing Fee | 590 (2.5% of Loan Amount- 500 + GST @18%= 90) |
| Amount Disbursed | ₹ 19,410 |
| EMI Amount | ₹ 3,571 |
| Loan amount is ₹ 20,000. Disbursed amount is ₹ 19,410. Total loan repayment amount is ₹ 21,426. |
*The annual interest rates and processing fee will vary as per the risk profile of the customers and the selected tenure.
Why Choose Personal Loans?
Experience hassle-free borrowing with benefits designed to make your financial journey smoother
Personal Loan Emi Calculator
*EMI calculations are indicative. Actual values may vary based on your profile and market conditions.
Personal Loan Rates and Charges
We believe in complete transparency. Here's a detailed breakdown of our rates and charges.
-
Interest Rate
12.75 - 44% p.a.
(reducing balance interest rate)
-
Processing Fee
2 - 9% + GST*
(Additional Upto ₹500 will be charged as Convenience Fees)
-
NACH / E-Mandate Charges
₹ 500% + GST*
(if applicable) -
Penal Charges, Late Payment Charges, Defaults Of Any Monies Payable
24% + GST*
(if applicable)
Exclusive Pre-approved Personal Loan Offers for
High-Credit Customers
Minimal documentation with quick approval for pre-qualified customers
Special rates starting from 10.49%* p.a. for eligible customers
Access to increased loan limits based on your credit profile
Eligibility Criteria and Required Documents
Personal Loan
Check if you qualify and prepare your documents for a smooth application process
| Salaried Employees | Self-Employed |
|---|---|
| Age Requirements: Minimum age of 23 years and a maximum of 58 years at loan maturity.This ensures financial maturity and complete loan repayment before retirement. | Business Vintage: Minimum 3 years of business existence. Shows business stability and sustainable income generation |
| Employment Status: Minimum 2 years of total work experience with 1 year in current company. Demonstrates career stability and reliable income source | Income Requirements: Minimum annual turnover of ₹5 lakhs. Demonstrates sufficient business scale and repayment capacity |
| Income Criteria: Minimum monthly income of ₹25,000. Ensures comfortable loan repayment capacity | |
| Credit Score: Minimum CIBIL score of 700. Indicates good credit history and responsible financial behaviour |
Required Documents for Personal Loans
Identity & Address Proof
- Aadhaar Card
- PAN Card
- Passport or Voter ID (any one)
- Last 3 months' salary slips
- Bank statements from the past 6 months
Business & Income Proof
- Last 2 years' ITR with computation
- Business registration proof
- Bank statements for the last 12 months
Essential Tips for Your Personal Loan Application
Follow these expert guidelines to ensure a smooth loan approval process and secure the best terms.
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Choose a Trusted Financial Institution
Partner with reputed lenders to secure competitive personal loan rates, transparent terms, and reliable customer service. Look for institutions with proven track records in personal lending.
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Compare Loan Options Thoroughly
Research and compare personal loan offerings from multiple lenders to find the best combination of interest rates, loan amount, and EMI options that match your financial needs.
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Calculate Your Repayment Capacity
Use our EMI calculator to determine a comfortable loan amount and tenure based on your monthly income and existing financial commitments. Ensure EMIs don't exceed 40-50% of your monthly income.
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Prepare Complete Documentation
Keep all required documents ready before applying, including updated KYC, proof of income, and bank statements. Proper documentation ensures faster loan processing and approval.
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Maintain a Good Credit Score
A credit score above 750 increases your chances of loan approval and helps secure better interest rates. Check your credit report before applying and address any discrepancies.
-
Read the Terms and Conditions Carefully
Understanding loan terms, including prepayment options, processing fees, and penalty charges, helps avoid surprises later. Ask for clarification on any points that are unclear before signing.
Apply for an Instant Personal Loan
Online in 3 Simple Steps
Quick eligibility check with basic details
CHEck eligibility
Provide your ID proof, address proof and gold to get an instant approval
Pre-fill with Aadhaar
Submit required documents digitally
Upload Documents
Access your loan account on-the-go
IIFL Loans Mobile App
Account Summary
Make EMI Payment
Complete A/c Statement
Submit A Query
Customer Success Stories
Join over 10 million satisfied customers who trust IIFL Finance.
I loved the way IIFL took my documents digitally while applying for personal loan and gave faster disbursal into my bank account. Thanks Team IIFL for giving me a truly seamless & digital experience.
Ashish K. Sharma
I needed the money for my daughter's marriage. I have taken many loans from IIFL and I am very happy with their services.
Chavada Labhuben
HomemakerNeed Help? We're Here for You
Personal Loans for Every Need
Check if you qualify and prepare your documents for a smooth application process
Personal Loan FAQs
Yes, you can foreclose your loan. However, it is wise to consult the financial institution to ensure there are no penalties for the same.
You can opt for personal loan EMI where a certain amount is automatically debited every month from your bank account. There are other repayment options available such as foreclosing or balance transfer.
No, this type of loans does not require any security or collateral.
To get instant loan approval, all you have to do is apply for the personal loan online and fill in the application form based on the eligibility requirements.
You can use the EMI calculator on the IIFL website to calculate EMI for your loan.
The minimum tenure varies based on the amount. However, the minimum tenure is 3 months and the maximum tenure is up to 7 years.
A personal loan is a non-collateral lending arrangement provided by banks and Non-Banking Financial Institutions (NBFCs). There are no fixed purposes to use personal loans and this makes them a popular choice for customers. Personal loans have easy repayment tenure though interest rates are usually high compared to gold loans.
Personal loan providers follow simple registration and processing procedures to ease lending for customers. They provide an online interface for user registration, validation of documents, and loan transfer to get quick loan sanctions.
Personal loan providers deposit the loan amount in your registered bank account after proper verification of documents. You need to repay the amount in pre-determined EMIs, interest rates, and tenure. IIFL Finance offers the most flexible repayment terms to customers willing to apply for personal loans.
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