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Instant Personal Loan Online

You can now avail personal loan completely online. Be it a trip to your dream destination, renovating your home with modern furnishings, your dream wedding plan or even a medical emergency, a Personal Loan will always help you fulfil your requirements. When you apply for a Personal Loan online on Finserv MARKETS, we connect you with the best lending partners in India. So, choose from our list of Personal Loan partners basis your need and convenience and make the most of it.

Our Lending Partners

  • Bajaj Finance Limited
  • Fullerton India Credit Co. Ltd.
  • Lendingkart Finance Ltd.
  • PaySense Partners - PayU Finance (India) Pvt. Ltd

Factors affecting the Disbursal Limit of Personal Loans

Here are the main factors that affect the disbursal limits of Personal Loans:

  • Income :

    Higher income level of the applicant leads to an increase in the disbursal amount. 

  • Current EMI payable :

    Disbursal amount can decrease basis the higher EMI payouts.

  • Number of dependents :

    Higher number of dependents can lead to a decrease in the disbursal amount. 

Requirement for Online Personal Loan Application

To apply for a Personal Loan, you must fulfill the required eligibility criteria and submit necessary documents.

Eligibility Criteria :

Following are the criteria that you must fulfill in order to apply for a Personal Loan :

  • You must be an Indian citizen.
  • You must be a salaried individual.
  • You must be between 25-58 years of age.

Details Required for Online Personal Loan Application :

To avail Online Personal Loan on Finserv MARKETS, all you need to do is keep the following details handy -

  • Net Banking details or Bank Statements -

    Your income details get verified using Perfios, a web-based personal finance application, in a safe and secure manner. Also using your net banking details, you will be able to setup loan repayment.

  • Access to Official Email ID -

    You may be required to verify yourself as a salaried individual. To complete your verification process, you should be able to access your official email id to verify your employer.
  • Identity Proof and Selfie -

    You will be able to complete your KYC process touch-free using our online KYC check. Details will rest secured with us.

Personal Loan Application Process

Applying for a Personal Loan online on Finserv MARKETS is simple and convenient too:

  • Step 1 :

    Check Eligibility: Know your loan eligibility by sharing your income and contact details.

  • Step 2 :

    Customize your Loan: Construct your Loan Package and don’t forget to include our unique Finserv Protection Plan to protect your loan liability.

  • Step 3 :

    Get Verified & Setup the Repayment: Verify your details & setup automatic repayments with our secured online process.

  • Step 4 :

    Money in Account: Loan will be disbursed to your account in less than 24 hours.

Personal Loan Verification Process

Here are the main steps involved in the Personal Loan verification process:

  • Step 1 :

    Your online application will be processed, once you submit the same on Finserv MARKETS website/App.

  • Step 2 :

    Post the complete processing of your online application, you must schedule a meeting, wherein the executive will verify the application details and collect your necessary documents, required for further processes.

  • Step 3 :

    Once the documents have been collected and successfully verified, the Personal Loan application will be approved and your loan will be disbursed in no time.

One Personal Loan for All Your Special Needs

Personal loan can act as financial aid to diverse requirements. Here are a few -

Wedding -

Wedding is a special event in one's life and the day deserves the best of everything. Weddings can be expensive, but with a personal loan for Wedding, you can take care of all the marriage expenses like arrangements, accommodation, decorations and make it the most memorable day of your life.

Travel -

Personal loan for Travel will help you meet the financial requirements associated with travelling. You can cover your travel expenses like that of flight tickets, booking hotels and much more. Keeping in mind that most people today travel either for holidaying or business-related activities, most banks and NBFCs offer Travel Loans at attractive interest rates.

Home Renovation -

With a personal loan for Home Renovation, you can get your home refurbished, purchase new furniture and do much more to decorate your dream home or increase the economic value of your house.

What is a Hybrid Flexi Personal Loan?

Need an urgent personal loan but worried about repayment the next moment?

We offer you Hybrid Flexi Personal Loan - the new way to fund your dreams. Enjoy principal holiday tenure, free part-payments and withdrawals! Interest rates are applied only on the amount you utilize and not your entire approved limit. Find out more about our Hybrid Flexi Personal Loan and how you can benefit from it, right here

  • Partner Name
    Key Feature
    Key Feature Description
  • Bajaj Finance Limited

    Interest Rate

    12.99% p.a onwards

  • Bajaj Finance Limited

    Associated Charges

    Processing Fees : Up to 3.99% of the loan amount Foreclosure Charges : 4% of the outstanding loan amount + applicable taxes

  • Bajaj Finance Limited

    Repayment tenure

    12-60 months

  • Bajaj Finance Limited

    Eligibility Criteria

    1. He must be a salaried individual.
    2. The applicant must be an Indian resident.
    3. The applicant’s age must be between 25 and 58 years.
  • Bajaj Finance Limited

    Basic Documents Required

    1. Bank Statement of last 3 months
    2. Identity Proof : PAN/Voter ID
    3. Address Proof : Aadhaar Card/Driving License/Passport 
  • Bajaj Finance Limited

    Disbursal Time

    24 hours

  • Fullerton India 

    Interest Rate

    11.99% p.a onwards

  • Fullerton India 

    Associated Charges

    Processing Fees : Between 0% - 6% of the loan amount

    Foreclosure Charges : 0-7% of the outstanding loan amount

  • Fullerton India 

    Repayment tenure

    12-60 months

  • Fullerton India 

    Eligibility Criteria

    1. The applicant must be a resident of India.
    2. The applicant’s age must be between 21 and 60 years.
    3. He must be a salaried individual working in a private limited company or public sector enterprise, or be self-employed.
  • Fullerton India 

    Basic Documents Required

    1. Bank Statement of last 3 months for salaried individuals and Income proof for self-employed individuals.
    2. Identity Proof : PAN/Voter ID  
    3. Address Proof : Aadhaar Card/Driving License/Passport 
  • Fullerton India 

    Disbursal Time

    30 minutes

  • Paysense 

    Interest Rate

    1.33% - 2.17% per month

  • Paysense 

    Associated Charges

    Processing Fees:  2% of the loan amount + GST or ₹500 + GST (depends on whichever is higher).  Foreclosure charges: 4% of outstanding loan amount + GST (Foreclosure allowed only after 6 EMI Payments).

  • Paysense 

    Repayment tenure

    3 months – 60 months

  • Paysense 

    Eligibility Criteria

    1. The applicant must be an Indian citizen.
    2. The age of the applicant must be between 21 and 60 years.
    3. The minimum net monthly income of the applicant must be ₹20,001 if residing in Tier -1 city and ₹18,001 if residing in Tier-2 city.
  • Paysense 

    Basic Documents Required

    1. Identity Proof: PAN Card.
    2. Permanent Address Proof: Aadhaar Card/Voter ID/Passport.
    3. Current Address Proof: Aadhaar Card/ Voter ID/ Passport /Rent Agreement/ Electricity Bill/ Water Bill/ Landline Bill / Bank Statement/Passbook/ Gas Pipeline receipt.
    4. Bank Statement of last 3 months.
  • Paysense 

    Disbursal Time

    48 hours

Personal Loan FAQs

What will happen if I don’t pay a Personal Loan EMI?

Not paying your Personal Loan EMIs can invite penalty charges on the outstanding debt. It can also negatively impact your credit score.

What are the pros and cons of Personal Loan Balance Transfer?

With the Personal Loan Balance Transfer facility, you will have to pay a lower rate of interest to the bank/NBFC you have chosen. However, you may have to pay prepayment charges to your current bank/NBFC..    

Are Personal Loans tax exempted?

According to the Income Tax Act law, there is no particular deduction on Personal Loans. In case of Home Renovation Loan, you can claim deductions of up to Rs. 2 Lakhs. This deduction will be applicable on the interest component as per Section 24(b) of the Income Tax Act.

What do the terms settlement, default and closed mean with respect to a Personal Loan?

Settlement : Settlement means that you are not able to pay the loan. You and your lender come to an agreement that you pay a certain portion of dues and not the complete outstanding amount. Settlement has an adverse effect on your Credit Score. Default: Default means that you were unable to pay the loan in the stipulated time and have not come on an agreement with respect to the outstanding dues. Defaulting can reduce your chances of getting a loan in the future. Closed: This means that you have repaid your loan in the stipulated time period.

What does prepayment mean and are there any charges for it?

Prepayment is the payment that is done before the specified due date. The prepayment charges usually range from 1% to 5% on the outstanding principal loan amount.

What do partial prepayment and foreclosure mean?

Partial prepayment is the payment of certain portion of loan amount before the due date. Foreclosure is the payment that is done before the designated due date.

Can I cancel a Personal Loan after the loan amount is disbursed?

Though it depends on the policies of the Bank/NBFC, most of them do not provide the said facility. In case it is done, you may have to pay cancellation charges.