Personal loan
A personal loan, priced in numbers you can check.
Unsecured loans from ₹50,000 to ₹40 lakh for salaried and self-employed applicants. No collateral, no end-use restrictions, money in your account usually within a few working days of the lender's approval.
- Amount
- ₹50k – ₹40 lakh
- Rate p.a.
- 10.5% – 24%
- Tenure
- 1 year – 6 years
Personal loan EMI
Indicative- Principal
- ₹5,00,000
- Total interest
- ₹1,10,835
- Total you repay
- ₹6,10,835
- Interest as % of loan
- 22%
Reducing-balance method, rate held constant. Your lender's EMI will differ with its exact rate, processing fee and disbursal date.
Key facts
What a personal loan looks like in 2026.
Category-level ranges across our partners. Each lender's own numbers are shown before you apply, with the date they last confirmed them.
- Loan amount
- ₹50,000 – ₹40 lakh
- Interest rate
- 10.5% – 24% p.a., fixed or reducing-balance
- Tenure
- 12 – 72 months
- Processing fee
- Typically 0.5% – 3% of the loan, plus GST
- Prepayment
- Many lenders allow it after 6–12 EMIs; charges of 2% – 5% are common
- Time to disbursal
- Same day to about a week, depending on the lender and your documents
Who can apply
Lenders' usual criteria
- Indian resident, aged 21 to 60 at loan maturity (varies by lender)
- Salaried with a net monthly income of ₹20,000 or more, or self-employed with 2+ years of business and filed ITRs
- A credit score of 700+ gets the best pricing; some lenders consider lower scores at a higher rate
- Existing EMIs usually need to stay under 50% – 60% of monthly income, including the new loan
Documents
What the lender will ask for
- PAN and one address proof (Aadhaar, passport, voter ID or driving licence)
- Last 3 months' salary slips, or 2 years' ITR for the self-employed
- Last 6 months' bank statement of the salary or business account
- Recent photograph; some lenders accept a live selfie
LoanKard does not collect these. The lender requests them in its own system after you are matched.
Read the fine print for you
Fees that change the real cost.
The advertised rate is rarely the whole story. These are the lines we would check on any personal loan offer.
Deducted from the disbursed amount. A ₹5 lakh loan at 2% means ₹10,000 plus GST before you see a rupee.
A 12% flat rate costs roughly the same as a 21% – 22% reducing-balance rate. Always compare on reducing-balance APR.
If you plan to close early, this matters more than a 0.5% difference in rate.
₹300 – ₹1,000 per missed EMI, and it hurts your credit report.
Loan-protection cover is optional. Decline it if you don't want it; it should not change your approval.
Questions
Personal loan FAQs
Does checking my eligibility on LoanKard affect my credit score?
No. We do not pull your credit report. Only the lender you choose to apply with will run a credit enquiry, and only after you consent.
How much can I borrow?
Most lenders cap the EMI at about half your net monthly income after existing obligations. On ₹50,000 a month with no other EMIs, that is roughly ₹7 – ₹9 lakh over 5 years, depending on the rate.
Will I get the rate shown on the site?
Ranges on LoanKard are indicative. Your final rate depends on your credit profile, income and the lender's policy on the day. The lender confirms it in the sanction letter before you accept.
Can I apply with more than one lender?
You can, but each lender's credit enquiry is recorded on your report. We suggest comparing first and applying with one or two that fit, rather than all of them.