A personal loan is an unsecured loan that you can use for any personal need such as medical expenses, education, travel, wedding, or emergency situations.
Unlike home or car loans, a personal loan does not require any collateral. Most banks and NBFCs offer quick approval with minimal documentation.
Key Benefits of Personal Loan:
- No collateral required
- Fast approval & quick disbursal
- Flexible repayment options
- Fixed monthly EMI
Eligibility (General):
- Age: 21–60 years
- Regular income source
- Good credit score
Personal loans are ideal for short-term financial needs when managed responsibly.