Can I get the lowest rate of interest on a personal loan?

The interest rate on your personal loan depends on several factors. For example: your credit history, credit score, bank balance, loan requirement amount, net salary, company profile, etc.

Can I take out a personal loan for any purpose?

Yes. You can apply for a personal loan to renovate your home, purchase new furniture, or cover any personal expenses.

How much time will it take to get approval on personal loan?

The bank may take some time to verify your identity, residential address, and income sources. However, if all the documents are in sync with the eligibility, then it won’t take long for the bank to approve your personal loan.

Will the bank check my salary before approving my personal loan?

Yes. The bank will go through all your finances, including the Bank A/C statements of the last 3 months, and salary slips of the last 3 months, before approving your loan.

Avail Personal Loan up to 50 Lacs Starting from 9.99% p.a.

10 Lacs+

Customers Served

4.7/5

Google Reviews

10,000+

Pincodes Serving

2000 Cr+

Loans Disbursed

Get Personal Loan up to ₹50 Lacs

Loan Amount *

Pincode *

Net Monthly Salary *

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10 Lacs+

Customers Served

4.7/5

Google Reviews

10,000+

Pincodes Serving

2000 Cr+

Loans Disbursed

A personal loan is a sum of money that you require for various purposes. You can use this loan to pay for home renovation costs, wedding expenses, medical bills, or any other expenses.

Banks and NBFCs offer you a specific period to pay off the loan.

Fresh Personal Loan Features

The interest rate of a personal loan at LoansJagat starts from 9.99%. Review the features and benefits of a personal loan based on your salary, credit history, and other parameters.
Apply for a loan with LoansJagat and get up to 99 Lacs in your bank account. Complete digital process with minimal documentation.
A few other features of a Personal Loan are defined below:

Compare & Apply from 20+ banks and NBFCs

Lowest interest rates starting at 9.99%

Up to 72 months to pay back the loan

Quick Credit Disbursal

Better Flexibility in Loan Repayment

100% Digital and Paperless Process

Who can Apply for Personal Loan?

You Should Earn a Salary

A credit score above 700

Above 21 yrs and below 58 yrs

Total work experience of at least 1 year

Required Documents for Personal Loan

Identity Proof

Any of the following

Passport
Voter ID
Driving License
PAN Card (Mandatory)
Aadhaar Card (Mandatory)

Address Proof

Any of the following

Aadhaar Card
Piped Gas Bill
Electricity Bill

Other Docs

Salary Slips (Last 3 months)
Salary A/C Bank statement (Last 3 months)

Personal Loan Example

For example, Karan applied for a personal loan of INR 3 Lacs. The loan was sanctioned at an interest rate of 11.99%, with a processing fee of 2%, totalling ₹6,000. Karan had to repay this loan within 5 years. In such a case, his total EMI would be INR 6,672.

In total, he would repay 4,00,320 (i.e., 6,672 EMI/month for 60 months). Principal repayment of ₹3 lakhs along with interest repayment of Rs 1,00,032 over a 5-year payment tenure and APR of 11.99%

Repayment PeriodMinimum 1 year to Maximum 7 years

Annual Percentage Rate (APR)Minimum 9.99% to Maximum 17%

Processing Fees1% to 2%

Stamp Duty Charges₹ 500

Disclaimer : LoansJagat is a marketplace platform that connects users with its partnered banks and NBFCs. Loan approval and sanctioning decisions are made exclusively by the respective lender. A few of our Lending partners include Axis Finance, Tata Capital, Yes Bank, Bajaj Finserv, Poonawalla Fincorp, Aditya Birla Finance Limited, etc.

FAQs

All frequently asked questions related to Personal Loan

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