Personal Loan
Higher amounts, faster approvals, and flexible repayment options to meet all your financial needs.
About Personal Loan
EASYCRED Personal Loan is designed to help you achieve your goals with minimal hassle. Whether it's a wedding, home renovation, medical emergency, or debt consolidation — we've got you covered.
With a network of 20+ leading banks and NBFCs, we compare offers in real-time to get you the best interest rates and fastest approvals. No collateral required, no branch visits — 100% digital process.
- Loan amounts up to ₹35 Lakhs
- Interest rates starting from 9.9% p.a.
- Flexible tenure from 1 to 5 years
- Minimal documentation and quick disbursal
- No collateral required
Key benefits
A personal loan is one of the most versatile financial products available today. Unlike home or car loans that restrict how you spend the money, a personal loan gives you complete freedom — wedding expenses, home renovation, medical emergencies, travel, or debt consolidation. EASYCRED connects you with 20+ lenders to find the best match for your profile.
Personal loans are completely unsecured. You don't need to pledge property, gold, or any asset. Your creditworthiness and income profile are all that matter.
Personal Loan interest rates
Personal loan interest rates in India range from 9.9% to 24% per annum, depending on your credit score, income, employer category, and existing debt obligations. Banks typically offer lower rates (10.5%–21%) compared to NBFCs (11%–24%), but NBFCs are often more flexible with approval criteria.
A 1% difference in interest rate on a ₹10 Lakh loan over 5 years means ~₹30,000 in extra interest. That's why comparing across 20+ lenders through EASYCRED can save you a significant amount.
Maintain a CIBIL score above 750, keep credit card utilisation below 30%, have at least 2 years of stable employment, and apply through EASYCRED's comparison engine instead of directly with a single bank.
Who can apply
Personal loan eligibility depends on a combination of factors that lenders evaluate to assess your repayment capacity. The two most important factors are your monthly income and CIBIL credit score. Meeting the minimum criteria doesn't guarantee approval — lenders perform a holistic assessment of your financial profile.
- 1Credit Score Check — Your CIBIL score (700+ minimum, 750+ for best rates) is pulled from the credit bureau. This is the first filter.
- 2Income Assessment — Your net monthly income must cover the proposed EMI within a 40–50% debt-to-income ratio.
- 3Employment Verification — Stability matters. Salaried applicants need 1+ year total experience with 6+ months at current employer.
- 4Existing Obligations — All current EMIs and credit card dues are factored into your remaining repayment capacity.
- 5Digital Footprint — Modern lenders also analyse bank statement patterns, spending behaviour, and savings consistency.
Your CIBIL score is a crucial factor in personal loan approval and the interest rate you receive. A score of 750+ typically qualifies you for the best rates (9.9% – 12%), while a score between 700–750 may attract moderate rates (12% – 18%).
Before applying, we recommend checking your free CIBIL score on our platform. If your score is below 700, consider improving it by paying off credit card dues, reducing credit utilisation below 30%, and ensuring no missed EMI payments for at least 6 months.
EASYCRED's soft-check system lets you see eligible offers without impacting your credit score. Only a formal application triggers a hard inquiry.
Documents you'll need
Personal loan documentation is designed to be minimal and hassle-free. Most lenders require just 3–4 documents that verify your identity, address, and income. With EASYCRED's digital process, you can upload documents from your phone and track verification in real-time.
Keep digital copies of your PAN, Aadhaar, and last 3 salary slips ready before starting the application. Having bank statements as a PDF (downloaded from net banking) gets you faster verification than scanned copies.
- 1Upload clear photos or scans of your KYC documents (PAN + Aadhaar)
- 2Connect your bank account via Account Aggregator for instant statement verification — or upload PDF statements manually
- 3Provide latest salary slips or ITR as income proof
- 4E-sign your loan agreement digitally — no branch visit needed
Personal Loan for every need
Frequently asked questions
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Why choose us
India's trusted loan comparison platform — fast, transparent, and secure.