Call Us : +91-9289021614

Personal Loan We Provide Fast & Easy Loan Apply Now

Loan Amount
Salaried      Self Employed   
Yes      No   
Monthly Income

What is a Personal Loan?

Simply put, it is an unsecured loan taken by individuals from a bank or a non-banking financial company (NBFC) to meet their personal needs. It is provided on the basis of key criteria such as income level, credit and employment history, repayment capacity, etc. Unlike a home or a car loan, a personal loan is not secured against any asset. As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction anything you own. The interest rates on personal loans are higher than those on home, car or gold loans because of the greater perceived risk when sanctioning them.

Features and Benefits of a Personal Loan

Listed below are the benefits and features of short-term personal loans:

  • * This type of loan addresses an individual’s short-term financial needs.
  • * No collateral or security required for short-term personal loans.
  • * Quick and easy documentation process for short-term personal loans.
  • * Personal loans can be used for any purpose like holiday expenditure, wedding expense,school fees, house repair work, furnishing, travel expense, etc.
  • * The loan amount ranges from Rs.50,000 to Rs.30 lakhs.
  • * These loans can also be transferred to another bank.

What is the Purpose of Personal Loans?

Personal loans are used for multiple purposes, some of which are given below:

  • * Consolidate debt
  • * Alternative to a payday loan
  • * Finance home remodelling
  • * Money for moving expenses
  • * Unplanned emergency expenses
  • * Make a large purchase

Things to Consider before You apply for a Personal loan

  • * Maintain a good credit history
  • * Compare the interest rates in the market
  • * Assess all costs
  • * Consider your needs to arrive at the right loan amount
  • * Avoid falling for gimmicky offers and plans

Personal Loan Eligibility

  • * Some of the eligibility factors are mentioned below:
  • * Salaried Employees
  • * Salaried doctors
  • * Employees of public and private limited companies
  • * Government sector employees including Public Sector Undertakings, Central and Local bodies
  • * Minimum age of 21 years
  • * Maximum age of 60 years at the time of maturity of the Personal Loan
  • * Minimum net monthly income – Rs. 20,000

Personal Loan EMI Calculator

You can use our FREE personal loan EMI calculator before applying for a personal loan India. With EMI calculator personal loan, you can get the following details:

  • * The right loan amount you need as per your salary.
  • * A suitable interest rate on the loan.
  • * The loan tenure ideal as per your income profile.

Documents Required for a Personal Loan

Here is a list of documents needed for salaried, professional, and self-employed applicants for a personal loan:

  • * Identity Proof (any of the following): Voter ID Card, Aadhar Card, Passport, Employer issued ID Card, Electricity Bill, Ration Card, Driver’s License, PAN Card, Life Insurance Premium Receipt, Title deed/utility bill/municipal tax receipt, Mobile/Telephone Bill.
  • * Age proof (any of the following): Birth Certificate, Ration Card, PAN Card, Passport, Voter ID, Aadhar Card, Life Insurance Premium Receipt, Secondary school certificate (Class 10).
  • * Residence proof: Ownership and Title Deeds of Property, Electricity Bill, Ration Card, Telephone Bills, Government-issued Employee Residence Proof.
  • * Photo ID
  • * Signed application form with passport sized photographs
  • * Salary slips of last three months
  • * Form 16 or proof of Income Tax Returns
  • * Bank statement of last six months
  • * Income tax returns and computation of income of last three years
  • * Audited balance sheet and profit & loss account of the last three years, which is certified by a Chartered Accountant


A personal loan can be used for almost any type of expense ranging from big ticket appliance purchases and home renovations to luxury vacations and debt consolidation.
You must have a regular source of income to avail a personal loan whether you are a salaried individual, self-employed business person or a professional
Yes. Though the exact amount of the minimum personal loan amount varies from one lending institution to another,
Personal loans feature tenure of 1 year to 5 years or 12 to 60 months.
Yes, personal loan can be applied either by yourself (singly) or together with a co-applicant (jointly).The co-applicant needs to be a family member like your spouse or parents


I have taken personal loan from Swift Loans as I need some loan for personal reason. It was nice because the loan was sanctioned on time.The interest rate is 13%. The tenure of the loan is for 4 years but it have completed only 1.5 years. I got my loan easily without any delay.
I have applied for personal loan through online .I am unable to avail this loan since dont have payslip.I have not submitted any of my documents.I have got proper notification from bank end and there was no drawbacks faced .Everything was good to me when applied for this loan.
For my personal need I chosen Swift Loans to apply a personal loan. I got a call on time and the process was done on smooth. The amount was sufficient with tenure period of 5 years
I have taken personal loan through Swift Loan mainly for my personal use .This loan was sanctioned on time .There was proper callback and follow up from online.The rate of interest and the processing fee was medium and i am satisfied with the service.
I have taken this loan for personal use through Swift loans. This loan was sanctioned on exact time frame without any hassles.The rate of interest and processing fee was okay.

Contact Us