PERSONAL LOAN

Now, securing a personal loan is as easy as a few taps on your mobile device, and we offer competitive interest rates. What's even better, we provide flexible loan tenures. Unlock the full potential of pre-approved personal loans online with a wide selection of over 30 banks and NBFCs to choose from.

Personal Loan Details

CredBharat offers comprehensive instant loan solutions to cover your wedding, medical, and travel expenses. But that's not all; you can also access online personal loans for home renovations, education, and car purchases. Keep reading to explore personal loan lenders, special offers, competitive interest rates, and flexible EMI options.

Apply for a Personal Loan Online with CredBharat

Select your desired loan amount and benefit from our appealing interest rates. You have the option to obtain your loan from the banks and NBFCs listed below.

Personal Loan by Banks

Conducting a comparison of interest rates offered by various banks is an excellent approach to identifying the most favorable option. Investing the time to investigate these diverse rates can open the door to securing a more advantageous deal.

Personal Loan by NBFCs

Select your preferred loan amount from the following list of NBFCs and benefit from some of the most competitive interest rates available.

Benefits of Having a Personal Loan

Address your financial requirements effortlessly by utilizing the most convenient financial solution, and manage all your expenditures with an instant personal loan.

• Financial Flexibility: Personal loans provide flexibility in how you can use the funds, from consolidating debt to covering unexpected expenses.
• Quick Access to Funds: Personal loans often offer rapid approval and disbursal, making them ideal for urgent financial needs.
• No Collateral Required: Most personal loans are unsecured, meaning you don't need to pledge assets or collateral.
• Debt Consolidation: Use a personal loan to consolidate high-interest debts like credit cards into a single, more manageable payment with a lower interest rate.
• Home Improvement: Fund home renovations and improvements that can increase the value of your property.
• Education Expenses: Personal loans can cover tuition fees and educational expenses, enabling you to invest in your or your child's education.
• Medical Emergencies: Address unexpected medical bills and healthcare expenses without tapping into savings.
• Travel and Vacation: Plan your dream vacation or travel adventures with a personal loan.
• Consolidation of Multiple Loans: Combine multiple loans into one personal loan for simpler financial management.
• Business Investment: Start or expand a small business with the funds from a personal loan.
• Peace of Mind: Having a personal loan can provide peace of mind, knowing you have a financial safety net for unexpected expenses or opportunities.

Personal Loan Eligibility Criteria

To secure approval for a personal loan, you must satisfy specific eligibility criteria. Please consult the table below to determine your eligibility for a personal loan.

Personal Loan EMI Calculator

A Personal Loan EMI (Equated Monthly Installment) calculator is a handy tool designed to assist you in calculating your monthly repayment amount for a personal loan. It considers factors such as the loan amount, interest rate, and loan tenure to compute the EMI.

Utilizing a personal loan EMI calculator is simple; you just need to input your loan amount, loan duration, and interest rate.

Personal Loan Fees and Charges

Thoroughly researching various banks can help you secure the most advantageous deal, as each bank may impose distinct fees and charges.

Documentation for a Personal Loan

To initiate a personal loan application, you will be required to furnish essential documents as evidence of your identity and income. Below is a list of the necessary documents for a personal loan.

Documents for Salaried Employee

• Proof of Identity- Passport, Voter’s ID, Driving License or PAN Card
• Proof of residence- Passport or utility bills
• Proof of income- Bank statement of salary account for the past two years

Documents for Self-Employed

• Proof of Identity- Passport, Voter’s ID, Driving License, or PAN Card
• Proof of residence- Passport or utility bills
• Proof of income- Audited financial report of the past two years

Documents for NRI

• A copy of your passport
• Visa Copy
• Your official email ID or the email ID of the HR
• Bank Statements
• Salary certificates or salary slips
• NRO/NRE bank statements of the last 6 months
• Proof of Identity, Residence, Income, and Assets
• Recent passport-size photographs of yourself and the guarantors

Types of Personal Loans in India

Unsecured personal loans, unlike secured loans, don't require collateral. They offer great flexibility with short-term options for quicker EMI settlement.

• - Whether it's funding a holiday or your child's education, you can now obtain a collateral-free loan. The most convenient way to repurpose your finances is through an instant personal loan.
• - Short-term personal loans provide rapid access to funds without the hassle of a lengthy application process. These loans typically offer lower interest rates than other options.
• - Banks provide quick disbursement of personal loans for travel, allowing you to plan your dream vacation seamlessly.
• - A personal loan for weddings covers all expenses, including venue, catering, and other arrangements, ensuring your special day is memorable.
• - In times of medical emergencies, you can secure instant approval for a personal loan, which can help cover medical bills and treatments.
• - Car loans stand out with competitive interest rates and extended repayment terms, making it easier to purchase or refurbish a vehicle to your liking.
• - With education loans available at recommended interest rates, you can ensure timely tuition fee payments or enroll your child in the school of their choice.

Enhance Your Odds of Securing a Marriage Loan

Here are some strategies to enhance your likelihood of securing a personal loan:

• Maintain an Excellent Credit Score: A strong credit score significantly boosts your approval chances. Ensure timely repayment of loans and credit card bills to maintain a high credit score.
• Demonstrate Stable Employment: Lenders favor borrowers with a consistent work history, so having a steady job for an extended period can increase your loan approval prospects.
• Select the Appropriate Lender: Seek out lenders that offer personal loans aligned with your financial requirements and eligibility criteria.
• Ensure a Sufficient Income: Lenders assess your income to determine your repayment capacity. A higher income can enhance your chances of loan approval.
• Provide Accurate and Comprehensive Information: When applying for a personal loan, be meticulous in supplying precise and comprehensive details. This expedites the approval process and bolsters your approval likelihood.
• Maintain a Low Debt-to-Income Ratio: A low debt-to-income ratio underscores your ability to repay the loan, making it more likely for your personal loan application to be approved.

In summary, by maintaining a solid credit score, demonstrating stable employment, choosing the right lender, providing accurate information, and keeping your debt-to-income ratio low, you can significantly increase your chances of successfully obtaining a personal loan.

Steps to Apply for a Personal Loan

Here's the step-by-step procedure you can adhere to when applying for a personal loan through CredBharat:

1. 1. Visit our website and create an account.
2. 2. Fill out the online application form with your personal and financial details.
3. 3. Choose your desired loan amount and repayment term.
4. 4. Submit the application, and our team will review it promptly.
5. 5. Upon approval, the funds will be disbursed to your account quickly.