facebook

Apply Instant Personal Loan from 30+ Banks & NBFCs

Get Personal Loan in 3 Steps
  • shield-insurance2

    Basic Details

  • shield-insurance2

    KYC Verfication

  • shield-insurance2

    Approval & Disbursement

Personal Loan EMI Calculator

Enter Your Loan Amount

1 Lakh 50 Lakh
10.50% 30%
1 Year 7 Years
Your Monthly EMI
Interest Amount
Total Amount


You may think!
Why should I Apply Personal Loan @ Fincover?
We are Featured In
Show Current Date

Personal Loan Offers Comparison of Banks
hdfc-bank

HDFC Bank

Expert Review (4.8/5)
4.8/5

Loan Amount
upto ₹ 40 Lakhs

Interest Rate
10.85% - 24%

Tenure upto
12 to 72 months

idfc-bank

IDFC First Bank

Expert Review (4.8/5)
4.8/5

Loan Amount
upto ₹ 40 Lakhs

Interest Rate
10.99% - 19%

Tenure upto
12 to 60 months

indusiand-bank-cc

IndusInd Bank

Expert Review (4.7/5)
4.7/5

Loan Amount
upto ₹ 50 Lakhs

Interest Rate
10.49% - 12.99%

Tenure upto
12 to 72 months

DBS

DBS Bank

Expert Review (4.5/5)
4.5/5

Loan Amount
upto ₹ 15 Lakhs

Interest Rate
10.99 %

Tenure upto
12 to 60 months

axis-bank

Axis Bank

Expert Review (4.6/5)
4.6/5

Loan Amount
upto ₹ 40 Lakhs

Interest Rate
11.1%

Tenure upto
12 to 84 months

icici-cc

ICICI Bank

Expert Review (4.5/5)
4.5/5

Loan Amount
upto ₹ 50 Lakhs

Interest Rate
10.85% to 16.65%

Tenure upto
12 to 72 months

kotak-bank

Kotak Bank

Expert Review (4.3/5)
4.3/5

Loan Amount
upto Rs 35 Lakhs

Interest Rate
10.99%

Tenure upto
12 to 72 months

yesbank-cc

YES Bank

Expert Review (4.3/5)
4.3/5

Loan Amount
upto Rs 50 Lakhs

Interest Rate
11.25% - 21%

Tenure upto
12 to 72 months

standard-chatered-cc

Standard Chartered Bank

Expert Review (4.3/5)
4.3/5

Loan Amount
upto ₹ 40 Lakhs

Interest Rate
11.49%

Tenure upto
12 to 72 months

Personal Loan Offers Comparison of NBFCs
incred-f
Expert Review (4.9/5)
4.9/5

Interest Rate
15% - 29%

Loan Amount
upto Rs.10L

finnable-loan
Expert Review (4.7/5)
4.7/5

Interest Rate
14 % - 29%

Loan Amount
upto Rs.10L

L&TF
Expert Review (4.8/5)
4.8/5

Interest Rate
12% - 24%

Loan Amount
upto Rs.30L

aditya-birla-loan
Expert Review (4.6/5)
4.6/5

Interest Rate
13% - 28%

Loan Amount
upto Rs.50L

bajaj-loan
Expert Review (4.6/5)
4.6/5

Interest Rate
11% - 37%

Loan Amount
upto Rs.30L

piramal
Expert Review (4.5/5)
4.5/5

Interest Rate
Starting 12.99% (p.a.)

Loan Amount
upto Rs.20L

tata-capital-loan
Expert Review (4.3/5)
4.3/5

Interest Rate
10.99% - 28%

Loan Amount
upto Rs.35L

poonawalla-loan
Expert Review (4.3/5)
4.3/5

Interest Rate
11.49% - 19%

Loan Amount
upto Rs.30L

fullerton-loan
Expert Review (4.6/5)
4.6/5

Interest Rate
13% - 28%

Loan Amount
upto Rs.25L

axis-finance
Expert Review (4.5/5)
4.5/5

Interest Rate
13% onwards

Loan Amount
upto Rs.25L

Mahindra-Finance
Expert Review (4.2/5)
4.2/5

Interest Rate
12% - 36%

Loan Amount
upto Rs.6L

Paysense-f
Expert Review (4.2/5)
4.2/5

Interest Rate
16.8% - 33%

Loan Amount
upto Rs.5L

Compare Banks Personal Loan Interest rates 2025

Know the Basics of Personal Loans Before You Apply!

What is Personal Loan?

A personal loan is a direct unsecured credit product provided to the public by banks and Non-Banking Finance Companies/NBFCs for personal use. It is an unsecured product which means borrower doesn’t need to provide a guarantee. These are effective if you need to make short-term purchase or if you have to make a long-term investment. The disbursal of personal loan and amount depends on various parameters such as your income, credit worthiness and repayment capability. Today there are many establishments that offer instant personal loan to eligible candidates.

Suggested Read – What is Personal Loan?

Personal loans are extraordinarily flexible, so they can meet almost any need – a wedding, illness, renovation of your home or plan a vacation. In case of an urgent medical needs or, when you need a large amount for some particular expenditure; it may be convenient to apply for a personal loan online. You may need to repay the personal loan with an interest rate which will be charged along with your principal in the monthly EMI. 

There are a couple of tools that may come in handy if you plan your financing properly, such as a Personal Loan Calculator or in other words Personal Loan EMI Calculator. They give you the payment schedule and the amounts of interest that you are supposed to pay; hence you can avoid taking a loan that costs you more.

Personal loan by Bank

What are Types of Personal Loans?

Certainly! There are several types of personal loans, each designed to meet different financial needs. Here are some common types of personal loans.

Unsecured Personal Loans

These loans do not require collateral, meaning you don't need to provide any assets (like a house or car) as security. Lenders gauge your creditworthiness based on factors like credit score, income, and employment history and then arrive at your personal loan eligibility

Secured Personal Loans

Unlike unsecured loans, secured loans require collateral. This could be your home, car, savings account, or other valuable assets. Banks would require Security for candidates with low credit score and poor repayment records

Fixed-Rate Personal Loans

With a fixed-rate loan, the interest rate remains constant throughout the entire loan term. This provides predictability in monthly payments. The borrowers would know what exactly they are paying out of hand

Variable-Rate Personal Loans

Variable-rate loans have interest rates that can vary over time, often in response to changes in a benchmark interest rate. This means your monthly EMI is subject to change. Normally, borrowers wouldn’t prefer this kind of loan

Debt Consolidation Loans

These loans are specifically used to consolidate multiple high interest debts such as personal loans or credit card outstanding into a single loan. This can simplify your repayments as the interest rate would be low and would potentially save money.

Home Improvement Loans

These loans are tailored for financing home improvement projects. They may be secured (using your home as collateral) or unsecured, depending on the lender's terms. Streamline your finances by focusing on one repayment

Medical Loans

Designed to cover medical expenses not covered by insurance, these loans can help individuals manage unexpected healthcare costs. A sudden financial crunch may land you in the soup, in such cases a medical loan might be your much needed saviour

Education Loan

Accessing world-class universities for education often entails substantial charges. The associated costs might be overwhelming for any candidate. Education loans relieves the burden of taking care of your study expenses

Wedding Loans

It’s everyone’s dream to make their wedding memorable. Wedding loans are intended for covering marriage expenses, these loans give an opportunity to host the special day in a way you wanted. Get Wedding loans without a hassle in few steps

Travel Loans

Nothing is quite memorable and long-lasting than a well-planned travel. Travel to your dream destination, explore new places and make life-long memories with Travel Loan. They allow you to spread the cost of a trip over time

Emergency Loans

Life is unpredictable, very often comes a situation where we would be found wanting for money with no help in sight. Emergency loans provide quick access to funds for unforeseen expenses or emergencies, offering a financial safety net.

Business Loans for Individuals

Some lenders offer personal loans for individuals looking to start or expand their own businesses. These loans can cover various business expenses, from equipment purchases to operational costs, helping entrepreneurs attain their business goals

How to get Eligible for Personal loan?

Personal Loan Eligibility for Salaried vs Self-Employed

Personal loans are provided mainly to individuals and not to business entities. It can be taken by both salaried and non-salaried individuals. However, the eligibility differs in each case. 

CriteriaSalaried IndividualsSelf-Employed Individuals
Age21 to 65 years (may vary slightly by lender)24 to 80 years (may vary slightly by lender)
NationalityResident IndianResident Indian
Minimum IncomeVaries by lender (typically ₹20,000 per month or more)Varies by lender (may require proof of sufficient income to support loan repayment)
Employment StatusMinimum 1 year of experience, with at least 1 year in current organizationMinimum 3 years of business experience, with overall 5+ years of business experience preferred
Credit ScoreMinimum score of 750 or higher (may vary by lender)Minimum score of 685 or higher (may vary by lender)
Additional DocumentsSalary slips, employment certificate, bank statementsBusiness registration documents, income tax returns, bank statements

Suggested Read – Personal Loan Eligibility Calculator

What are the Documentation Required for Personal Loan?

Category Salaried Individuals Self-Employed Individuals
Identity Proof * PAN Card * Aadhaar Card * Voter ID Card * Driving License * Passport * PAN Card * Aadhaar Card * Voter ID Card * Driving License * Passport
Address Proof * Aadhaar Card * Passport * Driving License * Utility Bill (not older than 3 months) * Aadhaar Card * Passport * Driving License * Utility Bill (not older than 3 months) * Ration Card
Income Proof * Latest 3 months’ salary slips * Bank statements of salary account for the last 3 months * Form 16 (if available) * Latest Income Tax Returns (ITR) * Audited financial statements for the past 2 years * Bank statements for the last 6 months (savings and current accounts)
Employment Proof * Appointment letter * Latest salary certificate * Business registration documents (if applicable) * GST registration certificate (if applicable) * Shop & establishment act certificate (if applicable)
Additional Documents * 2 Passport-sized photographs * Application form duly filled * Office address proof (if applicable) * Proof of business continuity (if applicable)

Suggested Read – Personal Loan Documents Required

Pros and Cons of Taking a Personal Loan

Pros

  • Debt Consolidation Made Easy

    Personal loans are an effective instruments for consolidating high-interest debt from multiple loans and credit cards into one payable EMI. By using a Personal Loan EMI Calculator, you can plan your repayment in a much better way and ensure you do not exceed monthly budget

  • Instant Access to Funds

    With the option of an Instant Personal Loan, you can secure funds required for any requirement, making it an ideal choice for handling unexpected expenses or any emergency situation

  • Flexible Usage

    A personal loan offers unmatched flexibility compared to loans that come with restricted end usage. Whether it’s for home renovation, medical expenses, or for any other emergency purpose, you can tailor the loan to meet your needs. Use a Personal Loan Calculator to determine the ideal amount you can pay

  • No Collateral Required

    As an unsecured loan, personal loans do not require you to mortgage any properties like your house. This eliminates the risk of losing your property also satisfying your personal need. All you have to do is check whether your qualify for the personal loan eligibility

Cons

  • High Interest Costs

    Personal loans come with higher interest rates, especially if your credit score is less than the preferred credit score of 750. By using a Personal Loan EMI Calculator, you can estimate the total cost of the loan and check whether it is affordable

  • Added Debt Burden

    Taking a personal loan increases your debts, which could be a huge strain on your monthly budget. It’s essential to check your affordability before applying for an Instant Personal Loan online.

  • Risk of Credit Default

    Failing to repay your personal loan on time can result in penalties, big damage to your credit score, and potential loss of credit opportunities. Regularly calculate your repayments with a Personal Loan Calculator to ensure you repay the personal loan on time

  • Temptation to Overspend

    Since personal loans are ubiquitous and it is easier to obtain them online, one might be tempted to borrow more than what they need. Credit Mismanagement can lead to debt trap. Tools like a Personal Loan EMI Calculator can help plan your finances wisely.

What are all the Personal Loan Repayment Options?

  • Fixed Monthly Payments (EMIs)
    This is the standard repayment method where you pay a consistent amount every month for the loan’s duration. Every EMI includes a component of principal and interest rate and you move steadily towards the repayment.
  • Partial Prepayment
    By making additional payments beyond your regular EMIs, you can drastically cutdown the personal loan balance. This not only shortens the repayment term but also helps save on overall personal loan interest costs.
  • Loan Foreclosure
    Many lenders provide the option to foreclose the loan before the end of its tenure. While this can eliminate future interest payments, preclosure is usually subject to certain charges, so it’s essential to check all the charges associated with personal loan online before doing so
  • Automated Payments
    Set up an automatic payment system directly from your bank account by issuing a mandate. This ensures on-time EMI payments, helps you avoid late fees, and maintain a positive credit record.
pl-2

Personal Loan Application Process @ Fincover?

To apply for a personal loan online at Fincover, follow these steps,

  • Visit www.Fincover.com
  • Hover on “Loans” and Click on “Personal Loans”-> “Apply for Personal loan”
  • Select the type of profession, Enter your Net Monthly Salary, Select the Loan amount required, Select the type of residence
  • Enter your Personal details such as Name, mail ID, Pincode, PAN, and state
  • Confirm your registration with an OTP
  • A lead will be created, and the customer care agents will contact you to seek documents and find offers from suitable banks or NBFCs. after which your loan will be processed.

Know How to Borrow Responsibly

Here are some key principles of responsible borrowing

income-of-applicant

Borrow Only What You Need

Take out a loan for a specific purpose and borrow only the amount required to meet that need. Avoid taking on unnecessary debt.

number-of-depends

Avoid Multiple Simultaneous Loans

Taking on multiple loans at once can lead to financial strain. Consider whether you can comfortably manage the repayments before taking on additional debt.

online-transfer

Regularly Review Your Financial Situation

Periodically assess your financial standing and adjust your borrowing habits accordingly. This helps ensure that you're on track towards achieving your financial goals.

What are the Personal Loan Processing Fees and Charges?

Charge TypeDetails
Processing Fee1% to 3% of the loan amount (varies by lender). Minimum ₹1,000 to ₹5,000.
Prepayment Charges2% to 5% of the outstanding principal if prepayment is allowed.
Late Payment Fee2% to 4% per month on the overdue EMI amount.
Loan Cancellation Fee₹1,000 to ₹5,000 (plus applicable taxes), depending on the lender.
Part-Payment Charges2% to 5% of the part-payment amount (if part-payment is allowed).
Legal and Documentation Fees₹500 to ₹2,500 (may vary based on the lender’s policy).
Cheque Bounce Charges₹500 to ₹1,000 per bounced cheque.
Loan Statement Charges₹200 to ₹500 for additional or duplicate statements.
Stamp DutyAs per state laws (varies by location).
Foreclosure Charges2% to 5% of the outstanding loan amount (if allowed before loan tenure).

Comparing Personal Loans vs. home Loans, vs. Credit Cards

Feature Personal Loan Home Loan Credit Card
Purpose Various personal needs (consolidation, emergencies, major purchases) Purchase or refinance a home Ongoing purchases and expenses
Amount Typically smaller amounts (₹1 lakh – ₹25 lakh) Larger amounts (₹50 lakh – ₹5 crore+) Limits set by issuer (typically ₹50,000 – ₹5 lakh+)
Interest Rate Generally higher (10% – 24%) Generally lower (6% – 9%) Very high (15% – 40%)
Term Shorter terms (1 – 5 years) Longer terms (15 – 30 years) Revolving credit (no fixed term)
Collateral Usually unsecured (no collateral required) Secured by your home Unsecured
Application Process Relatively simpler and faster More complex and lengthy Instant approval for existing cardholders
Approval Criteria Credit score, income, employment stability Credit score, income, debt-to-income ratio, property value Credit score, spending history
Fees Processing fees, origination fees, late payment fees Processing fees, prepayment fees, legal fees Annual fees, late payment fees, cash advance fees
Early Repayment May allow part-prepayment or foreclosure (subject to fees) May allow prepayment (subject to fees) Minimum payment due each month

Our
Happy Customers Reviews

Case Studies and Success Stories

Personal Loan Comparison

  • Loan Amount: Up to ₹40 Lakh
  • Interest Rate: 10.85% to 24.00% per annum (fixed rate)
  • Tenure: 12 to 72 months
  • Processing Fee: Up to ₹6,500 + GST

for more – https://shorturl.at/eMTtL

  • Loan Amount: Up to ₹40 Lakh
  • Interest Rate: Starting from 10.99% per annum
  • Tenure: 12 to 60 months
  • Processing Fee: Up to 3.5% of the loan amount
  • Foreclosure Charges: Up to 5% of the principal outstanding after payment of 9 or more EMIs

for more – https://rb.gy/76hkgp

  • Loan Amount: ₹30,000 to ₹50 Lakh
  • Interest Rate: Starting from 10.49% per annum
  • Tenure: 12 to 72 months
  • Processing Fee: Up to 3.5% of the loan amount

for more – https://tinyurl.com/mstfamrk

  • Loan Amount: ₹25,000 to ₹15 Lakh
  • Interest Rate: Starting from 10.99% per annum
  • Tenure: 12 to 60 months
  • Processing Fee: Up to 3% of the loan amount + GST
  • Foreclosure Charges: 2% to 4.5% of the principal outstanding (depending on loan tenure)

for more – https://shorturl.at/C60Yk

  • Loan Amount: Up to ₹40 Lakh
  • Interest Rate: Starting from 11.1% per annum
  • Tenure: 12 to 84 months
  • Processing Fee: Up to 2% of the loan amount + GST
  • Prepayment/Foreclosure Charges: 3% of principal outstanding (if 36 or fewer EMIs paid), 2% (if more than 36 EMIs paid)

for more – https://shorturl.at/G8OVx

  • Loan Amount: Up to ₹50 Lakh
  • Interest Rate: 10.85% to 16.65% per annum
  • Tenure: 12 to 72 months
  • Processing Fee: Up to 2% of the loan amount + applicable taxes
  • Prepayment/Foreclosure Charges: 3% (up to 24 months loan seasoning), Nil (after 24 months loan seasoning)

for more – https://shorturl.at/aiEcf

  • Loan Amount: Up to ₹35 Lakh
  • Interest Rate: Starting from 10.99% per annum
  • Tenure: 12 to 72 months
  • Processing Fee: Up to 5% of the loan amount + applicable taxes

for more – https://shorturl.at/7hDX9

  • Loan Amount: Up to ₹50 Lakh
  • Interest Rate: 11.25% to 21% per annum
  • Tenure: 12 to 72 months
  • Processing Fee: Up to 2.5% of the loan amount
  • Prepayment/Foreclosure Charges:
    • 13-24 months: 4% of principal outstanding
    • 25-36 months: 3% of principal outstanding
    • 37-48 months: 2% of principal outstanding
    • More than 48 months: No charges

for more – https://bit.ly/4gxjIgX

  • Loan Amount: Up to ₹40 Lakh
  • Interest Rate: Starting at 11.49% per annum
  • Tenure: Up to 6 years
  • Processing Fee: Up to 2.25% of the loan amount (50% discount on online applications)

for more – https://rb.gy/12d2wb

Other Languages

How to get personal loan with low salary

பர்சனல் லோன் (Tamil)

10.49% வட்டி விகிதத்தில் ₹50 லட்சம் வரை தனிநபர் கடனுக்கு ஆன்லைனில் விண்ணப்பிக்கவும்.

How to get personal loan with low salary

पर्सनल लोन
(Hindi)

10.49% ब्याज दर पर ₹50 लाख तक के व्यक्तिगत ऋण के लिए ऑनलाइन आवेदन करें। 30+ बैंकों और एनबीएफसी के ऑफर की तुलना करें और पात्रता की जांच करें

How to get personal loan with low salary

ಪರ್ಸನಲ್ ಲೋನ್ (Kannada)

30+ ಬ್ಯಾಂಕುಗಳು ಮತ್ತು NBFCಗಳಲ್ಲಿ ₹50 ಲಕ್ಷದವರೆಗೆ ವೈಯಕ್ತಿಕ ಸಾಲವನ್ನು 10.49% ಬಡ್ಡಿದರದಲ್ಲಿ ಆನ್‌ಲೈನ್‌ನಲ್ಲಿ ಪಡೆಯಬಹುದು.

How to get personal loan with low salary

వ్యక్తిగత రుణం (Telugu)

10.49% వడ్డీ రేటుతో ₹50 లక్షల వరకు వ్యక్తిగత రుణానికి ఆన్లైన్‌లో అప్లై చేయండి. 30+ బ్యాంకులు & NBFCల ఆఫర్లను పోల్చి, మీ అర్హతను తనిఖీ చేయండి.

How to get personal loan with low salary

Personal Loan (English)

Personal Loan | Apply for personal loans online up to ₹50 Lakhs at 10.49% interest rate. Compare offers from 30+ banks and NBFCs and Check Eligibility

Related Videos

Personal Loan Blogs