How to get Personal Loan

How to get Personal Loan : There are currently many types of banks and financial institutions in the country, which provide various types of loan facilities to people. One of these loans is a personal loan, which does not require any specific reason for taking. You can also take this loan to do some of your personal work. This type of facility is not provided to you by the bank in any other loan. It will completely depend on you, how you want to use the loan taken, the bank does not ask you any requirement while giving this loan.  

How to get Personal Loan

You don't need to go through any complicated paperwork to get a personal loan. In this, you get a personal loan easily without any conditions. If you also want to take a personal loan from a bank, or want to get information related to it, then in this article we will tell you what is a personal loan, how to get a personal loan and what documents are required for personal. loan. Providing complete information.

Personal Loan Benefits and Features

  • In this, you don't need to pledge anything as security for the loan.
  • In this, you can take a loan up to 40 lakh rupees, getting more loans depends on the bank.
  • You can use this loan for any expenses.
  • You are given up to 60 months to repay the loan, this period can also be extended.
  • The loan is obtained in the following paperwork.


  • Applicant's minimum age should be 18 years and maximum age should be 60 years.
  • Applicant's CIBIL score should be 750 or above.
  • The minimum salary of the job applicant should be Rs 15,000 per month.
  • A person with stable employment must have 2 years of experience and 1 year of experience in the same occupation, and a self-employed person must have at least 2 years of experience in the same occupation.
  • Individuals working in private and limited companies, individuals working in reputed organizations and individuals working in government organizations and PSUs can also apply.

Types of Personal Loans

Wedding Loan

In our country, marriages are conducted with much fanfare, for which a lot of money is also spent. In such a situation, you can take a marriage loan from a bank without spending all your accumulated capital. This is also a type of personal loan.

Higher Education Loan

Often people complete their studies by going abroad or elsewhere for their higher education. In such a situation they also need more money. For which any person can take a personal loan for himself or any member of his family. The loan can be used by the beneficiary to pay for visa, college fees, flight tickets, food and accommodation abroad.

Medical Loan

A medical emergency can suddenly occur in any person's life, in such a situation if a person does not have medical insurance then he can also take a personal loan for medical assistance. Apart from this, you can also avail home renovation loan, travel loan, debt consolidation loan.

Personal Loan Balance Transfer Facility

Individuals can transfer their outstanding loan to any other bank or NBFC under balance transfer in personal loans. After which payment can be made with lower interest rate and better terms. The main benefit of this will be those people who have taken loan at interest rate. It will also improve their credit profile.

Personal Loan Interest Rate

Personal loan interest rates may vary from bank to bank and loan institution to bank. The bank determines the interest rate of its applicant according to his credit score, income, employment and loan amount and repayment period. Here you are being told about the personal loans offered by banks and some finance companies.

Important Documents

  • Aadhaar Card
  • Driving License
  • Voter ID
  • Pan Card
  • Passport

How to apply for a personal loan

  • If you want to take a personal loan, for that you first select the bank from where you want to take the loan.
  • Apart from this, if you are an existing customer of any bank, you can also take a loan from that bank.
  • For this first of all you go to your nearest bank and go there and contact the bank officer to get information regarding personal loan.
  • After knowing all the terms and conditions take the form for loan application.
  • After that you fill that form properly.
  • After filling the form, attach a copy of the relevant documents with the form and submit it to the bank officer.
  • After this, after approval of your application by the bank officer, the loan amount is sent to your account.
  • You can repay the loan through EMIs in a period decided by you.

Important Link

Official Notification


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