Learn the process of getting a personal loan for athletes, including the required eligibility criteria and documents.
As an athlete, managing your finances often requires balancing training costs, competition fees, and personal expenses. Unlike salaried individuals, you may face fluctuating incomes, making traditional loan assessments more nuanced. Lenders may evaluate your earning potential, endorsement income, and overall financial stability.
A personal loan can support a wide range of financial requirements, such as funding advanced coaching, purchasing high-quality equipment, or covering medical expenses. With customisable options and flexible repayment terms, personal loans for athletes provide convenient access to funds.
You can get personal loans for athletes through Bajaj Markets, which offers a seamless application process.
Lender |
Starting Interest Rate |
Processing Fee |
Loan Amount |
Tenure |
Federal Bank |
11.00% p.a. |
0.70% to 2.80% of the loan amount + 18% GST |
₹50,000 to ₹5 Lakhs |
Up to 12 months |
mPokket |
24.00% p.a. |
₹50 to ₹200 + 18% GST (maximum APR of 48%) |
₹500 to ₹45,000 |
Up to 90 days |
Kotak Mahindra Bank |
10.99% p.a. |
Up to 1.50% of the loan amount + GST |
₹50,000 to ₹40 Lakhs |
24 months to 72 months |
InCred |
16.00% p.a. |
2% to 5% of the sanctioned amount |
₹10,000 to ₹10 Lakhs |
Up to 72 months |
Kissht |
14.00% p.a. |
3% to 5% of the loan amount |
₹5,000 to ₹4 Lakhs |
6 months to 24 months |
SMFG India Credit |
12.00% p.a. |
0% to 6% of the loan amount |
₹50,000 to ₹25 Lakhs |
Up to 60 months |
Upwards |
1.5% p.m. |
Up to 4% of the loan amount |
₹25,000 to ₹5 Lakhs |
Up to 36 months |
Bajaj Finance |
10.00% p.a. |
Up to 3.93% of the loan amount (Inclusive of applicable taxes) |
₹50,000 to ₹35 Lakhs |
12 months to 96 months |
CASHe |
2.79% p.m. |
Up to 5.5% of the loan amount + GST |
₹50,000 to ₹3 Lakhs |
9 months to 18 months |
Fibe |
14.00% p.a. |
Up to 2% of the loan amount |
₹50,000 to ₹5 Lakhs |
Up to 36 months |
Finnable |
15.95% p.a. |
Up to 3% of the loan amount |
₹20,000 to ₹10 Lakhs |
Up to 60 months |
Muthoot Finance |
14.50% p.a. |
2% to 4% of the loan amount |
₹50,000 to ₹10 Lakhs |
Up to 60 months |
IIFL Finance |
18% p.a. |
2% to 6% of the loan amount + GST |
₹70,000 to ₹5 Lakhs |
Up to 24 months |
KreditBee |
14.00% p.a. |
Up to 3% of the loan amount |
₹1,200 to ₹5 Lakhs |
Up to 24 months |
L&T Finance |
12.00% p.a. |
Up to 2% of the loan amount + GST |
₹50,000 to 7 Lakhs |
Up to 48 months |
MoneyTap |
18.00% p.a. |
5% to 10% of the loan amount |
₹5,000 to ₹5 Lakhs |
3 months to 36 months |
moneyview |
1.33% p.m. |
Starts from 2% of the approved loan amount |
₹30,000 to ₹10 Lakhs |
Up to 60 months |
YES BANK |
12.50% p.a. |
1.15% to 2.75% of the loan amount |
₹1 Lakh to ₹50 Lakhs |
12 months to 72 months |
Zype |
18.00% p.a. |
2% to 6% of the loan amount |
₹3,000 to ₹5 Lakhs |
6 months to 12 months |
Olyv |
18.00% p.a. |
2% to 12% of the loan amount |
₹1,000 to ₹1 Lakh |
2 months to 12 months |
PaySense |
15.00% p.a. |
2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher) |
₹5,000 to ₹5 Lakhs |
Up to 60 months |
Privo |
9.99% p.a. |
1% to 3% of the loan amount + GST |
₹2 Lakhs to ₹5 Lakhs |
6 months to 60 months |
*Disclaimer: The mentioned details are subject to change at the lender’s discretion.
To qualify for an athlete loan, you must meet specific eligibility requirements. Here’s the list:
The individual should be an Indian citizen
Employment can be salaried or self-employed
Applicants must be 18 years or older
A steady income of at least ₹10,000 per month is necessary
Work experience of one year is a prerequisite
The CIBIL score must be 600 or more
These requirements can differ based on the lender’s policies. Therefore, it’s important to review the specific criteria set by your chosen financial institution before applying for a loan.
When applying for a personal loan as an athlete, you will have to submit several documents to confirm your identity, income, and professional credentials.
Here’s the list of documents that might be required:
Identity Proof: Choose any one of the following documents:
PAN Card
Aadhaar Card
Voter ID Card
Passport
Driving Licence
Address Proof: Any one of the following can be submitted:
Voter ID Card
Aadhaar Card
Passport
Driving Licence
Electricity Bill
Telephone Bill
Income Proof: Provide a bank statement or salary slips for the last three months
Photographs: Two passport-sized photographs are required
Keep in mind that the required documents can differ depending on the lender’s policies. It is advisable to confirm the specific documentation needed with your chosen financial institution before proceeding with your application.
You can apply for a personal loan for athletes on Bajaj Markets by following these simple steps:
Visit the website and click on the 'Check Eligibility' option to begin the process
Enter your personal and income-related information. This helps determine your loan eligibility.
Specify the loan amount you wish to borrow and select a repayment tenure that suits your financial plan
Review all the details you have entered to ensure they are accurate before submitting the application form online
Once submitted, your application will be assessed by the partnered lenders. They will contact you for verification and guide you through the remaining steps of the process.
By following these steps, you can easily apply for a personal loan tailored to your needs as an athlete.
A personal loan for athletes can be a reliable financial tool to help you achieve your goals, whether it’s funding professional training, acquiring specialised equipment, or managing unexpected expenses. With the right eligibility criteria, required documents, and an easy application process, accessing funds becomes simple and hassle-free.
No, you don’t necessarily have to be a professional athlete to apply for a personal loan tailored for athletes. However, lenders may require proof of your active involvement in sports, such as certificates of participation, sponsorship agreements, or endorsements. Eligibility often depends on your income stability and overall financial profile.
The maximum loan amount available to an athlete depends on the lender’s policies and your financial eligibility. Factors such as your income, credit score, and repayment capacity play a significant role in determining the loan amount. Typically, personal loans for athletes can range from a few thousand to several lakhs. Check with your chosen lender for specific details.