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Pre-Approved Personal Loan up to ₹40 Lakhs

Get a pre-approved personal loan of up to ₹40 lakhs with instant approval and minimal documentation. Enjoy quick disbursal, flexible tenures, and competitive interest rates.

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Check Pre-Approved Bank Offers
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

Check Pre-Approved NBFCs Offers
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

Personal loan by Bank

What is Pre-Approved Personal Loan?

A pre-approved personal loan is an exclusive loan offer provided by banks or financial institutions to select customers with a strong credit profile. These loans require minimal documentation, have faster approval, and offer instant disbursal, making them an ideal solution for urgent financial needs.

How is a Pre-Approved Loan Calculated?

Pre-approved personal loans are offered based on your financial profile, credit history, and repayment ability. Here’s a breakdown of how lenders calculate pre-approved loans in a structured table format for better understanding:

FactorDescriptionImpact
Credit ScoreA high credit score (750+) shows good creditworthiness.Higher scores lead to higher loan amounts and lower interest rates.
Monthly IncomeYour net monthly income after taxes.Higher income increases loan eligibility.
Debt-to-Income RatioThe percentage of income spent on current debts.A lower ratio (<40%) means better repayment capacity and higher loan amounts.
Repayment HistoryPast payment record of loans or credit card dues.Good repayment history ensures higher loan offers.
Relationship with LenderA long-term association with the bank or financial institution.Loyal customers may get higher amounts and better terms.
Existing DebtsCurrent loans or EMIs you are already paying.Lower existing debts improve eligibility for higher loan amounts.
Loan TenureThe repayment period (e.g., 12-60 months).Longer tenures lower EMIs but increase the total interest cost.
Employer StabilityThe reputation of your employer and job stability.Stable jobs with reputed employers can result in higher loan offers.

Example Calculation

CriteriaDetailsResult
Monthly Income₹60,000Eligible for loan up to 40% of income (₹24,000 EMI capacity).
Fixed Obligations₹20,000Remaining EMI capacity = ₹24,000 – ₹20,000 = ₹4,000.
Loan Tenure36 monthsLonger tenure results in manageable EMIs.
Interest Rate12% p.a.Lower interest rate allows for a higher loan amount.
Loan Amount₹6,70,000 (Approx.)Based on EMI Calculator

Key Features of Pre-Approved Personal Loans

  • Quick Approval: These loans are pre-screened, so approval is almost instantaneous.

  • Minimal Documentation: Since the lender already has your details, little to no paperwork is required.

  • Flexible Loan Amounts: You can avail loans ranging from small amounts to as high as ₹40 lakhs, depending on your eligibility.

  • Competitive Interest Rates: Pre-approved offers often come with lower interest rates for eligible customers.

  • No Collateral Required: These loans are unsecured, meaning you don’t need to pledge any assets as security.

  • Flexible Tenures: Repayment periods typically range from 12 to 60 months, depending on the lender.

  • Digital Process: The entire application and disbursal process can often be completed online, saving time and effort.

How to buy

Pre-Approved Personal Loan vs. Regular Personal Loan

FeaturePre-Approved LoanRegular Personal Loan
Approval TimeInstant1-3 Business Days
DocumentationMinimalExtensive
EligibilityPre-determined by lenderRequires detailed evaluation
Interest RatesPreferential rates for eligible customersVaries based on profile
FlexibilityHighly flexibleModerate

How to Check if You’re Eligible

income-of-applicant

Bank Notifications

Check for SMS or email notifications from your bank about pre-approved loan offers.

number-of-depends

Online Banking Portal

Log in to your bank’s app or website to see if you have any pre-approved loan offers

online-transfer

Customer Care

Contact your bank’s customer support to inquire about your eligibility.

Who is Eligible for a Pre-Approved Personal Loan?

Eligibility for pre-approved personal loans is usually determined by the lender. Common criteria include:

  • High Credit Score: A score of 750 or above increases your chances of getting a pre-approved offer.
  • Consistent Income: A stable monthly income assures the lender of your repayment capacity.
  • Existing Relationship with the Lender: Banks often extend these offers to their loyal customers.
  • Good Repayment History: Timely payments of previous loans or credit card bills improve your chances.

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

Common FAQs About Pre-Approved Personal Loans

You can learn more from our asked questions
  • Who are eligible for a pre-approved personal loan?

Pre-approved loans are usually extended to customers who have a good credit score of 750+, steady income, and are bank customers.

  • Can I negotiate the interest rate for a pre-approved loan?

Consider borrowing from friends or family, selling unused items, or taking on small gigs. Explore immediate options, like online platforms or local lenders, to fulfill the urgent need for 20,000 rupees.

  • What happens if I don’t avail of the pre-approved loan offer?

The existing pre-approved loan offer might lapse after a period. However, if you continue to maintain good credit score, you will still be eligible for a pre-approved personal loan

Are pre-approved personal loans secure?

Yes, pre-approved personal loans are secure to avail. Since, they are given based on your credit behaviour and your existing relationship with the bank, you can be certain that the loan is safe.