Learn how manufacturing sector employees can access personal loans easily. Explore the eligibility criteria, required documents, and understand the application process.
Many lenders consider factors including a steady income when offering flexible repayment options and favourable terms to eligible applicants. Being a part of the manufacturing sector, you may have a stable earning and a consistent employment record, which could make accessing personal loans more straightforward.
Whether it’s for planned expenses such as home renovations or unplanned needs like medical emergencies, a personal loan can be a reliable financial tool. It offers the flexibility to address immediate requirements while keeping your long-term finances on track.
Lender |
Starting Interest Rate |
Processing Fee |
Loan Amount |
Tenure |
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 |
34.00% p.a. |
Up to 5.5% of the loan amount + GST |
₹50,000 to ₹3 Lakhs |
9 months to 18 months |
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 |
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 |
IIFL Finance |
16.50% p.a. |
2% to 6% of the loan amount + GST |
₹70,000 to ₹5 Lakhs |
Up to 24 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 |
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 |
KreditBee |
15.00% 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 |
16.00% p.a. |
Starts from 2% of the approved loan amount |
₹30,000 to ₹10 Lakhs |
Up to 60 months |
mPokket |
24.00% p.a. |
₹50 to ₹200 + 18% GST (maximum APR of 48%) |
₹500 to ₹45,000 |
Up to 90 days |
Muthoot Finance |
14.50% p.a. |
2% to 4% of the loan amount |
₹50,000 to ₹10 Lakhs |
Up to 60 months |
Olyv |
18.00% p.a. |
2% to 12% of the loan amount |
₹1,000 to ₹1 Lakh |
2 months to 12 months |
PaySense |
14.00% 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 |
SMFG India Credit |
12.00% p.a. |
0% to 6% of the loan amount |
₹50,000 to ₹25 Lakhs |
Up to 60 months |
Upwards |
18.00% p.a. |
Up to 4% of the loan amount |
₹25,000 to ₹5 Lakhs |
Up to 36 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 |
*Disclaimer: The mentioned details are subject to change at the lender’s discretion.
To apply for a personal loan as a manufacturing sector employee, you are typically required to meet certain eligibility criteria.
These may include:
You must be an Indian citizen
You can be either salaried or self-employed
You should be at least 18 years old
A monthly income of at least ₹10,000 is required
Minimum of one year of work experience is mandatory
A CIBIL score of 600 or higher is needed
It’s important to note that eligibility conditions may vary across lenders. Checking the specific requirements of your chosen financial institution beforehand can help ensure a smoother application process.
If you are applying for a personal loan, you will have to provide the following documents:
Identity Proof: Provide any one of the following:
PAN Card
Aadhaar Card
Voter ID
Passport
Driving Licence
Address Proof: Submit any one of these:
Voter ID
Aadhaar Card
Passport
Driving Licence
Electricity Bill
Telephone Bill
Income Proof: Include bank statements or salary slips from the last three months
Photographs: Two recent passport-size photographs
You may need to provide additional documents based on the lender's specific requirements.
Follow these easy steps to apply for a personal loan:
Click on the ‘Check Eligibility’ button available on the webpage
Provide your personal details and income information as required
Enter the loan amount you need and select a suitable repayment tenure
Carefully review the details you’ve entered and submit the online application form
After submission, your application will be reviewed by the lenders. They will contact you for verification and guide you through the subsequent steps.
A personal loan can be a practical solution for manufacturing sector employees to address a wide range of financial needs. By meeting the eligibility criteria, preparing the required documents, and applying through a reliable platform like Bajaj Markets, you can ensure a smooth and hassle-free borrowing experience. Always compare options and choose a loan that aligns with your financial goals and repayment capacity.