Get a personal loan online at your fingertips with a competitive interest rate. It gets better as there are flexible loan tenures and the benefit of fast approval & instant disbursal directly in your bank.
A personal loan can help you manage planned expenses, urgent payments, or short-term borrowing needs without pledging collateral. With Buddy Loan, you can check loan interest rates, fees, eligibility, documents, repayment options, compare offers from multiple lenders, and apply for a personal loan online through a digital application journey, making it easier to choose a low-interest personal loan with flexible EMI repayment.
Personal Loan Details
A Personal Loan is an unsecured loan that can be used for multiple needs such as medical bills, home repairs, education costs, wedding expenses, travel, debt consolidation, emergency finance & more.
Since there is no collateral requirement, lenders usually review your income, repayment capacity, credit history, and existing obligations before showing an offer. Buddy Loan helps borrowers compare lenders through a digital lending process.
| Interest Rate | 9.99% p.a. onwards |
| Loan Amount | Starting from ₹10,000 to ₹35 lakhs |
| Tenure | Flexible loan tenures starting from 6 months to 5 years |
| Processing Fees | 0.5% to 4% of the loan amount (may vary across lenders) |
| Documentation | E – Documentation (PAN, Aadhaar, Income Proof) |
Note: Rates, charges, and amounts can vary by lender, customer profile, and internal credit assessment. Always review the lender offer before accepting it.
Personal Loan EMI Calculator
An EMI calculator is a tool that helps you determine your monthly payments towards your loan.
The Personal Loan EMI Calculator helps you estimate the monthly repayment amount before you apply. Enter the loan amount, interest rate, and tenure to see the EMI, total payable amount, and total interest.
For example, a longer tenure can reduce the monthly EMI but may increase total interest. A shorter tenure can increase the EMI but may reduce total interest. Use the calculator before submitting the application so you can make a practical borrowing decision.
Personal Loan Features & Benefits
Meet your financial needs with the easiest finance solution and cover all your expenses with an instant loan.
Quick Approval
Get your loan approved within minutes.
No Collateral
Get funds without risking your assets.
Low Interest Rates
Starting from 11.99% p.a.
Flexibility
Can be used for a variety of purposes.
Easy Repayment
Choose your preferred repayment tenure.
No Prepayment Penalties
No hidden charges or extra penalties.
Types of Personal Loans in India
Personal loans are unsecured loans that can be obtained without the use of collateral. Personal loans come with great flexibility with short-term loan options where you can close the EMI in a short span.
Instant Personal Loans
Get instant funds without collateral for urgent financial needs. Enjoy quick approvals, minimal documentation, and flexible usage, making it a reliable solution for emergencies anytime and anywhere.
Short-term Personal Loan
Access quick funds for immediate financial needs with short repayment tenures. Benefit from fast approvals, easy processing, and manageable EMIs, making it ideal for temporary cash flow gaps.
Travel Loan
Make your dream vacation a reality with easy travel financing. Cover flights, hotels, and other expenses with quick disbursal, allowing you to plan and enjoy stress-free trips.
Marriage Loan
Celebrate your special day without financial worries. Cover wedding expenses like venue, catering, and decor with flexible repayment options, ensuring your big day remains memorable and stress-free.
Medical Loan
Manage medical emergencies without financial stress. Get quick approvals to cover hospital bills, treatments, and procedures, ensuring timely care while allowing you to focus completely on recovery.
Student / Education Loan
Secure your academic future with ease. Cover tuition fees and education-related expenses with affordable repayment options, ensuring uninterrupted learning while reducing the financial burden on you and your family.
Consumer Durable Loans
Get easy financing without collateral for purchasing appliances and electronics. Enjoy quick approvals, minimal documentation, and flexible EMIs, making it a reliable solution for upgrading your lifestyle affordably.
Debt Consolidation Loan
Get a single loan without collateral to combine multiple debts into one. Enjoy lower interest rates, simplified repayments, and better control, making it a reliable solution to manage finances efficiently.
Get Personal Loan Online Up to ₹35 Lakhs
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Also Read: Types of Personal Loans in India
Best Personal Loan Offers
The best personal loan rates depend on your eligibility, income, credit score, employer category, location, and repayment history. Instead of choosing only by the lowest advertised rate, compare the processing fee, maximum amount, tenure, and total repayment cost.
Use this Personal Loan comparison to shortlist offers before you apply.
These offers are indicative values. Final offers are shown after lender-side checks and verification.
A Personal Loan should match your income, EMI comfort, loan eligibility, digital application preference, fast loan disbursal need, and flexible EMI repayment plan. Review every Personal Loan offer carefully before accepting.
Benefits of Applying Personal Loan with Buddy Loan
Applying for a personal loan with Buddy Loan can make the borrowing process easier because you can check offers from multiple lending partners through one digital platform.
- Multiple Lender Options: Buddy Loan connects borrowers with banks and NBFCs, helping you compare loan amount, tenure, interest rate, and repayment terms.
- Quick Digital Application: You can apply personal loan online by entering your personal, employment, income, and KYC details through the website or app.
- Personalised Loan Offers: Offers are matched based on your profile, income, credit score, location, employment type, required loan amount, and repayment capacity.
- Paperless Process: The digital application process can reduce paperwork. Keeping PAN, Aadhaar, income proof, and bank statements ready can help speed up verification.
- App and Website Access: You can apply, check eligibility, and continue the loan process digitally through the Buddy Loan website or mobile app.
Note: Buddy Loan is a loan aggregator, not a direct lender. Final approval, interest rate, processing fee, loan amount, tenure, and disbursal timeline depend on the lending partner and applicant eligibility.
Personal Loan Interest Rates by Banks
Comparing bank-wise personal loan interest rates helps you shortlist lenders before applying for a loan. Public sector banks, private sector banks, foreign banks, and small finance banks may follow different pricing, approval, and documentation policies. Take time to explore and compare the different rates available to secure a better deal.
Personal Loans Interest Rates by Public Sector Banks
Public sector banks are often preferred by borrowers looking for transparent charges, stable service, and competitive rates. Approval may depend on income, employer profile, credit score, and internal bank policies.
| Bank Name | Interest Rate (p.a.) | Processing Fee | Max Loan Amount | Apply Online |
| Bank of Maharashtra | 8.75% – 12.80% | 1% (₹1,000–₹10,000) | ₹20 lakh | Apply Now |
| Indian Bank | 9.00% – 13.00% | Up to 1% | ₹20 lakh | Apply Now |
| Central Bank of India | 9.85% onwards | Up to 1% | ₹20 lakh | Apply Now |
| State Bank of India | 10.00% – 15.00% | Up to 1.50% (₹1,000– ₹15,000) | ₹20 lakh | Apply Now |
| Bank of Baroda | 10.15% onwards | Up to 2% (₹1,000–₹10,000) | ₹20 lakh | Apply Now |
| Punjab National Bank | 10.25% – 17.95% | Up to 1% of loan amount | ₹20 lakh | Apply Now |
| Punjab and Sind Bank | 10.75% – 13.50% | Up to 1% | ₹15 lakh | Apply Now |
| Bank of India | 10.85% onwards | 1% (₹2,500–₹15,000) | ₹20 lakh | Apply Now |
| Indian Overseas Bank | 10.85% onwards | 0.50% + GST | ₹15 lakh | Apply Now |
| Canara Bank | 10.95% – 16.40% | 0.50% (max ₹2,500 + GST) | ₹30 lakh | Apply Now |
| IDBI Bank | 11.00% – 15.50% | 1% of loan amount | ₹10 lakh | Apply Now |
| Union Bank of India | 11.35% – 15.45% | Up to 1% (max ₹7,500) | ₹15 lakh | Apply Now |
| J&K Bank | 11.50% onwards | 0.50% (min ₹500) | ₹10 lakh | Apply Now |
| UCO Bank | 12.45% – 12.85% | Nil | ₹10 lakh | Apply Now |
Note: Interest rates are subject to change. Please verify the final lender offer before accepting the loan.
Personal Loans Interest Rates by Private Sector Banks
Private sector banks often provide faster digital processing, higher loan amounts, and broader customer segments. These lenders may be useful when you want online loan approval with a smoother digital journey.
| Bank Name | Interest Rate (p.a.) | Processing Fee | Max Loan Amount | Apply Online |
| HDFC Bank | 9.99% – 24.00% | Up to ₹6,500 + GST | ₹40 lakh | Apply Now |
| ICICI Bank | 9.99% – 16.50% | Up to 2% + taxes | ₹50 lakh | Apply Now |
| IDFC First Bank | 9.99% onwards | 0% – 3.5% of loan amount | ₹1 crore | Apply Now |
| Bandhan Bank | 10.25% – 18.50% | Up to 3% | ₹25 lakh | Apply Now |
| Axis Bank | 10.49% – 22.00% | Up to 2% of loan amount | ₹40 lakh | Apply Now |
| IndusInd Bank | 10.49% onwards | Up to 3.5% | ₹50 lakh | Apply Now |
| Yes Bank | 10.85% – 21.00% | Up to 2.5% | ₹40 lakh | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Up to 5% + taxes | ₹40 lakh | Apply Now |
| City Union Bank | 11.00% – 14.95% | 1.25% (min ₹750) | ₹10 lakh | Apply Now |
| Federal Bank | 11.49% onwards | Up to 3% | ₹25 lakh | Apply Now |
| Dhanlakshmi Bank | 11.90% onwards | Up to 2% | ₹10 lakh | Apply Now |
| South Indian Bank | 12.85% – 20.60% | Up to 2% | ₹15 lakh | Apply Now |
| Karur Vysya Bank | 13.00% – 20.00% | Up to 2% | ₹10 lakh | Apply Now |
| Karnataka Bank | 13.43% onwards | Up to 2% (₹2,500–₹8,500) | ₹10 lakh | Apply Now |
| DCB Bank | 13.50% – 24.00% | Up to 3% | ₹10 lakh | Apply Now |
| RBL Bank | 14.00% – 23.00% | Up to 3.5% | ₹20 lakh | Apply Now |
| Tamilnad Mercantile Bank | 14.25% – 16.35% | 1% of loan amount | ₹2 lakh | Apply Now |
Note: Interest rates are subject to change. Please verify the final lender offer before accepting the loan.
Personal Loans Interest Rates by Foreign Banks
Foreign banks usually focus on salaried borrowers, premium customer segments, and clean credit profiles. Review the processing fee and eligibility requirements before applying.
| Bank Name | Interest Rate (p.a.) | Processing Fee | Max Loan Amount | Apply Online |
| HSBC Bank | 9.99% – 16.00% | Up to 2% | ₹30 lakh | Apply Now |
| Citi Bank | 10.75% onwards | Up to 3% | ₹30 lakh | Apply Now |
| Standard Chartered Bank | 11.49% onwards | Up to 2.25% | ₹50 lakh | Apply Now |
Note: Interest rates are subject to change. Please verify the final lender offer before accepting the loan.
Personal Loans Interest Rates by Small Finance Banks
Small finance banks can be useful for borrowers looking for accessible credit options across different income segments. Rates and charges may vary widely based on risk and borrower profile.
| Bank Name | Interest Rate (p.a.) | Processing Fee | Max Loan Amount | Apply Online |
| Ujjivan Small Finance Bank | 11.49% – 23.00% | Up to 2.5% | ₹1.5 lakh | Apply Now |
| Jana Small Finance Bank | 14.00% – 28.00% | Up to 3% | ₹5 lakh | Apply Now |
| AU Small Finance Bank | 15.00% – 30.00% | Up to 4% | ₹25 lakh | Apply Now |
| Equitas Small Finance Bank | 15.00% – 29.00% | Up to 3.5% | ₹5 lakh | Apply Now |
| Suryoday Small Finance Bank | 16.00% – 29.00% | Up to 2% | ₹5 lakh | Apply Now |
| Unity Small Finance Bank | 16.00% – 30.00% | Up to 3% | ₹5 lakh | Apply Now |
| ESAF Small Finance Bank | 18.00% – 27.00% | Up to 3% | ₹3 lakh | Apply Now |
Note: Interest rates are subject to change. Please verify the final lender offer before accepting the loan.
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Personal Loan Interest Rates by NBFCs
NBFCs and digital platforms are often preferred for fast loan disbursal, simplified checks, and short-term borrowing options. They may be useful for borrowers who want quick cash funding, but the rate and fee can vary significantly. As always, it is best to compare the total cost before you select an offer.
| NBFCs Offering Personal Loan | Interest Rates (p.a.) | Processing Fee | Apply Online |
|---|---|---|---|
| Paysense | 16.00% – 36% p.a | Up to 3% | Apply Now |
| Cashe | 2.25% p.m onwards | Up to 3% | Apply Now |
| Fibe | 16% p.a. onwards | 2% + GST | Apply Now |
| Incred | 13.99- 42% p.a. | 2% – 4% | Apply Now |
| Mpokket | Up to 48% p.a. | 5% – 10% | Apply Now |
| Prefr | 18% – 36% | 3% – 5% | Apply Now |
| NIRA | 24% – 36% | 5% – 8% | Apply Now |
| Money Tap | 13% | Up to 2% + GST | Apply Now |
| Bajaj Finance | 11% to 37% | Up to 3.93% | Apply Now |
| Tata Capital | 10.99% to 35% | Up to 5.5% + GST | Apply Now |
| Moneyview | 1.33% p.m onwards | Starts at 2% | Apply Now |
| Muthoot Finance | 14% to 22% | 2% to 4% | Apply Now |
| L&T | 11% p.a onwards | 3% (flat) + 18% GST on Loan Amount | Apply Now |
| Upwards | 12% to 22% p.a | 2% to 4% | Apply Now |
| Zype | 18% to 39% | Depends on Lender | Apply Now |
| HDB | 12.00% to 31.00% p.a. | 3% (flat) + 18% GST on Loan Amount | Apply Now |
| LoanTaps | 12%-24% p.a. | Up to 2.50% + GST | Apply Now |
| Phocket | 24% – 36% p.a. | ₹590 to ₹11918 + GST | Apply Now |
| Pocketly | 3% p.m onwards | Depends on Lender | Apply Now |
| Loanbaba | 10.50% p.a onwards | Up to 2% | Apply Now |
| Dhani | 13.99% p.a. onwards | Depends on Lender | Apply Now |
| Faircent | 12% to 28% p.a. | Up to 3% | Apply Now |
| Finnable | 16% to 26% p.a. | 3 to 4% | Apply Now |
| Aditya Birla | 17.65% p.a onwards | up to 3% + GST | Apply Now |
| MyMoneyMantra | 10.50% p.a onwards | 3.99% | Apply Now |
| IndiaLends | 10.25% p.a. onwards | Depends on Lender | Apply Now |
| IIFL | 12.75% – 44% p.a. | 2% – 6% + GST | Apply Now |
| Sriram Finance | 12% p.a. onwards | Depends on Lender | Apply Now |
| Stashfin | 11.99% p.a. onwards | nil | Apply Now |
| Reliance | Depends on Lender | Depends on Lender | Apply Now |
| Piramal Finance | Starting at 12.99% | Up to 5% + GST | Apply Now |
| Rapid Rupee | 12% to 36% | Starts from ₹99 | Apply Now |
| Hero Fincorp | Starting at 21% | 2.5% – 3.5% | Apply Now |
| Flipkart | 10.49% – 36% | Up to 3% + GST | Apply Now |
| Paytm | As per lender | As per lender | Apply Now |
| Google Pay | Starting at 13.99% | As per lender | Apply Now |
| PhonePe | 13% – 20% | As per lender | Apply Now |
| Mobikwik | 17.99% to 35.99% | As per lender | Apply Now |
| Bhanix Finance | 2.5% p.m onwards | Up to 3% | Apply Now |
| Rupee Redee | Starting at 30% | 10% to 15% | Apply Now |
| Olyv | 18-30% p.a. | 2% to 12% + GST | Apply Now |
| Fatak Pay | 12% to 35.95% | 2.5% + GST | Apply Now |
| Privo Loan | Starting at 9.99% p.a. | As per lender | Apply Now |
| AXIO Loan | 14% to 35% p.a. | 2% + GST | Apply Now |
| Mahindra Finance | As per eligibility | As per lender | Apply Now |
| JIO Finance | Starting at 9.9% | As per lender | Apply Now |
Note: NBFC and platform offers can change based on lender policy, eligibility, bureau score, and submitted documents.
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Personal Loan Eligibility Criteria
Loan eligibility is checked through basic personal, income, employment, and credit information. A higher income, stable job or business, good credit score, and low debt burden can improve approval chances.
| Eligibility Criteria | Salaried Individual | Self Employed |
|---|---|---|
| Age | 21 to 60 years old | 22 to 55 years old |
| Monthly income | ₹15,000 | ₹25,000 |
| Loan Amount | ₹50,000 to 25 lakhs | ₹50,000 to 50 lakhs |
| CIBIL Score | Above 750 | Above 750 |
Meeting the basic criteria does not guarantee approval. Lenders may also assess employer category, business vintage, salary mode, city, bank statement pattern, existing EMIs, and repayment behaviour.
How Credit Score Affects Your Personal Loan Application
Your credit score is one of the key factors lenders check before approving a personal loan. Since a personal loan is usually an unsecured loan, lenders use your score to understand how responsibly you have handled past EMIs, credit cards, and other borrowings.
| Credit Score Range | What It Usually Means | Possible Impact on Personal Loan Application |
| 750 and above | Strong credit profile | Better approval chances, stronger offers, and possibly lower interest rates |
| 700 to 749 | Good credit profile | Approval is possible, but the final rate and loan amount may vary by lender |
| 650 to 699 | Average credit profile | Lenders may do stricter checks and may offer a lower loan amount or higher rate |
| Below 650 | Weak credit profile | Approval may be difficult, and lenders may ask for stronger income proof or a co-applicant |
| No credit history | New-to-credit borrower | Approval may depend more on income, employment stability, bank statements, and lender policy |
Documents Required to Apply for a Personal Loan
The documents required for a personal loan can vary depending on the lender, applicant type, loan amount, and verification process. Since most lenders now support a digital personal loan application, keeping your KYC, income proof, and bank statements ready can help make the process smoother. Here’s a list of documents required for a personal loan.
Salaried applicants usually need to submit documents that verify their identity, address, employment, and monthly income.
Documents required:
- PAN card & Aadhaar card
- Address proof (Aadhaar card, passport, utility bill, or rental agreement)
- Latest salary slips, generally for the last 3 months
- Employee ID card or employment proof
In certain cases, alternative documents such as Form 16, Passport, voter ID, or driving licence, if required, can be used as additional identity proof. Same goes for bank statements, generally for the last 3 to 6 months, in dire cases where the salary slips are absent.
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Location-Wise Personal Loan
Loan offers may vary by city because lenders consider location, income range, employer presence, and serviceability. You can check city-specific options to compare offers available for your profile.
A thorough selection of personal loan choices is available on our website, organized by your city & location. This makes evaluating many offers and selecting the best one simpler.
Additionally, you have the option to apply for a loan hassle-free online through our website.
Personal Loan Balance Transfer
A balance transfer allows you to move an existing loan to another lender, usually to reduce the interest rate, lower the EMI, or get better repayment terms. This can be helpful if your current rate is high or your credit profile has improved since you took the loan.
Before transferring, compare the new rate, processing fee, foreclosure charge, remaining tenure, total savings, and documentation effort. A balance transfer loan is useful only when the net saving is clear after all charges.
Tips to Avoid Personal Loan Rejection
Rejection can happen due to low credit score, insufficient income, high existing EMIs, incorrect details, unstable employment, or incomplete documents. Here are some tips to improve your chances of getting a personal loan:
Maintain a good credit score
Pay EMIs and credit card bills on time. A score above 750 can improve your chances of getting better offers.
Check your credit report
If your credit score is low, review your credit report for errors. If you find incorrect details, raise a dispute with the credit bureau.
Keep your debt under control
Lenders check your income and existing EMIs before approving a loan. Try to reduce unpaid dues before applying.
Improve your income profile
A stable income makes repayment easier. Additional income sources may help if they can be properly documented.
Apply for the right loan amount
Borrow only what you need. Asking for a very high amount can reduce approval chances.
Choose the right lender
Apply with lenders whose eligibility criteria match your income, credit score, and employment type.
Avoid too many applications
Multiple loan applications can lead to repeated credit checks, which may slightly affect your credit score.
Keep documents ready
Missing or incorrect documents can delay approval or lead to rejection.
Add a co-applicant or guarantor if needed
If your profile is weak, a guarantor with a strong credit score and stable income may improve approval chances. However, the guarantor becomes responsible if you fail to repay.
Enter correct details
Make sure your PAN, Aadhaar, income, address, employment, and bank details are accurate.
Overall, maintaining a good credit score, a stable employment history, choosing the right lender, providing accurate information, and keeping your debt-to-income ratio low can improve your chances of getting a personal loan.
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Steps to Apply For a Personal Loan with Buddy Loan
Here’s the step-by-step process that you can follow to apply for a personal loan on Buddy Loan:
Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
Specify the desired loan amount & personal email. Next, choose the Personal Loan option.
Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
Enter your work details (Including company name, years of service and Designation).
Enter your personal details (Including Full Name, PAN, address DOB & Gender).
Provide your communication address, and income details and Click the 'Submit' button.
As per the details provided, suitable lenders will be allocated, and their respective details will be shared for future proceedings.
Personal Loan Prepayment & Foreclosure
Personal loan prepayment means paying part of your loan early, while foreclosure means closing the full loan before the tenure ends. RBI’s Pre-payment Charges on Loans Directions, 2025 apply to loans sanctioned or renewed on or after January 1, 2026. Under these directions, lenders cannot charge prepayment or foreclosure fees on eligible floating-rate loans to individual borrowers. RBI had also earlier barred banks from charging such penalties on floating-rate term loans to individuals.
For fixed-rate personal loans, charges may still apply as per the lender’s policy and loan agreement. Before paying early, check your rate type, lock-in period, outstanding balance, prepayment fee, GST, and closure process. Always collect a no-dues certificate after full repayment.
Personal Loan Repayment
Repayment for a personal loan is usually done through fixed monthly EMIs. Choose a tenure that keeps the EMI affordable without increasing the total interest unnecessarily. Timely repayment for personal loans can protect your credit score and improve future loan eligibility.
Common repayment modes include:
- Auto-debit or NACH: EMI is deducted from your bank account on the due date.
- Online banking: Repay through the lender website, app, or net banking.
- UPI or payment gateway: Some lenders may allow digital repayment options.
- Branch payment: Some lenders may support in-person payment at selected branches.
Before accepting the offer, check due date, bounce charges, late payment fee, foreclosure terms, part-payment rules, and customer support process.
How to Access Your Personal Loan Statement Online
A personal loan statement helps you track your loan account, EMI payments, outstanding balance, interest charged, due dates, and repayment history. Most lenders allow borrowers to download it online through their website or mobile app.
Here is a step by step guide to show how you can access it:
- Visit the lender’s official website or mobile app.
- Log in using your registered mobile number, customer ID, loan account number, or email ID.
- Complete OTP or password verification.
- Go to the loan account, service request, or statement section.
- Select your personal loan account.
- Choose the statement period, if required.
- Download the loan statement in PDF format or request it by email.
Even if you applied through Buddy Loan, remember that Buddy Loan is a loan aggregator. The loan statement is usually issued by the final lending partner that approved and disbursed your loan. You can access the statement from that lender’s official app, website, customer portal, or customer support channel.
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