Service Overview
Personal loans are unsecured loans that can be used for any personal financial need. Whether you need funds for a wedding, medical emergency, vacation, or debt consolidation, our personal loan services provide quick access to funds with minimal documentation and fast approval.
Quick Approval
Get approved within 24-48 hours with minimal documentation
No Collateral
Unsecured loans without any property or asset as security
Low Interest
Competitive interest rates starting from 10.5% p.a.
Online Process
Complete application and documentation online
Common Usage Cases:
- Wedding Expenses
- Medical Emergencies
- Vacation & Travel
- Home Renovation
- Debt Consolidation
- Education Fees
Eligibility Criteria
Age Requirement
21 to 65 years
Applicant must be within this age range
Income Criteria
Minimum ₹15,000/month
For salaried individuals
Credit Score
650+ Required
Good credit history is essential
Employment
Salaried/Self-employed
Minimum 6 months in current job/business
Additional Requirements:
- Indian resident with valid ID proof
- Valid bank account with regular transactions
- No ongoing defaults with any financial institution
- Stable employment history
Required Documents
Identity Proof
- Aadhaar Card
- PAN Card
- Passport
- Driving License
- Voter ID Card
Address Proof
- Aadhaar Card
- Utility Bills (Last 3 months)
- Rent Agreement
- Property Tax Receipt
Income Proof
- Salary Slips (Last 3 months)
- Bank Statements (Last 6 months)
- Form 16
- IT Returns (Last 2 years)
Photographs
- 2 Passport Size Photos
Important Notes:
- All documents must be self-attested
- Digital copies should be clear and readable
- Bank statements should show salary credits
- Documents should be in PDF or JPEG format
Key Benefits
Fast Processing
Get loan approval within 24-48 hours with our streamlined process
No Security
Unsecured loans without any collateral or guarantor requirements
Flexible Repayment
Choose tenure from 12 to 60 months with flexible EMI options
Transparent Process
No hidden charges with complete transparency in all dealings
Digital Process
Complete online application from anywhere, anytime
Dedicated Support
Personal relationship manager for end-to-end assistance
Comparison with Other Lenders
| Feature | FinanceMaster | Bank A | Bank B |
|---|---|---|---|
| Interest Rate | 10.5% - 24% | 11.5% - 25% | 12% - 26% |
| Processing Fee | 1% - 3% | 2% - 4% | 2.5% - 5% |
| Approval Time | 24-48 hours | 3-5 days | 5-7 days |
| Prepayment Charges | Nil after 12 months | 2% after 6 months | 3% after 12 months |
Application Process
Application
Fill our simple online application form with basic details
- Basic personal information
- Employment details
- Loan amount required
Documentation
Upload required documents through our secure portal
- Identity & address proof
- Income documents
- Bank statements
Verification
Our team verifies your documents and eligibility
- Document verification
- Credit score check
- Employment verification
Approval
Receive loan approval with terms and conditions
- Loan sanction letter
- Interest rate confirmation
- EMI schedule
Disbursement
Receive funds directly in your bank account
- Sign digital agreement
- Processing fee payment
- Fund transfer
Expected Timeline
Frequently Asked Questions
What is the maximum loan amount I can get?
The maximum loan amount depends on your income, credit score, and repayment capacity. For personal loans, you can get up to ₹40 lakhs. Home loans go up to ₹5 crores, and business loans up to ₹50 lakhs.
How long does the approval process take?
For personal loans, approval takes 24-48 hours. Home loans take 3-7 days, and business loans take 2-5 days. The time may vary based on document verification and completeness.
What is the minimum credit score required?
We require a minimum credit score of 650 for personal loans. For home loans, 700+ is preferred. Higher credit scores get better interest rates and higher loan amounts.
Are there any prepayment charges?
No prepayment charges after 12 months for personal loans. For home loans, you can prepay up to 25% of the outstanding amount annually without charges.