Types of Personal Loans in India: A Practical Guide for Everyday Borrowers

Most of us come across moments when we need extra money to handle an expense that simply cannot wait. Your house may need a quick repair. A medical situation may come up. Planning a wedding or about to take a long-overdue vacation. In situations like these, a personal loan can make life easier since you can borrow quickly and repay comfortably over time.

What many people do not realise is that personal loans come in different forms depending on the purpose. Before choosing any lender, it helps to know these options and also check simple things like the personal loan interest rate, your monthly outflow using a personal loan EMI calculator, and whether the lender is trustworthy. Apps like Kissht, an RBI-approved loan app often considered one of the most trusted, make this entire process safe and smooth.

Let’s have a quick look at the types of loans:

1.   Debt Consolidation Loan

If you are tired of paying multiple EMIs or credit card bills every month, a debt consolidation loan can really lighten the load. Instead of remembering four or five different due dates, you simply pay one EMI. This brings significant mental relief and makes it easier to manage your monthly budget.

2.   Home Renovation Loan

Every home needs attention from time to time. You may want to repaint your walls, fix old wiring, upgrade the kitchen, or give the house a slight makeover. A home renovation loan helps you cover these costs without touching your savings. You can get the work done now and repay slowly through easy instalments.

3.   Wedding Loan

Indian weddings are beautiful, but they can also get expensive very quickly. From décor to catering to outfits, everything adds up. A wedding loan lets you plan your celebrations peacefully without worrying too much about the upfront cost. This is one of the most common types of personal loan in India.

4.   Medical Loan

Health issues come without warning and often need immediate attention. A medical loan can be a big help during such emergencies. Since most digital lenders offer quick approval, you can get funds on time for treatments, hospital bills, or medicines. For urgent situations, an instant personal loan through an app becomes extremely useful.

5.   Travel Loan

A travel loan is helpful when you want to take a break or finally go on a trip you have been planning for years. It covers everything from flight tickets and hotels to sightseeing and shopping. Instead of pushing your vacation to “someday,” you can travel now and repay gradually.

6.   Higher Education Loan

If you want to upskill, study abroad, or pursue a professional course, a higher education loan can help you achieve your goals. Many young professionals use this type of loan to invest in their careers without worrying about immediate fees.

7.   Small Personal Loan

There are times when you only need a small amount for a short period. It could be rent, a mobile repair, a bill payment, or an urgent purchase. A small personal loan is perfect for these situations because the amount is small and the approval is quick. Instant loan apps are beneficial here.

8.   Instant Personal Loan

Instant personal loans are very popular today because everything happens online. You apply for an instant loan app, upload basic documents, and complete your KYC digitally. Platforms like Kissht, an RBI-approved loan app, make this process simple, quick, and transparent. This helps you borrow confidently when you are short on time.

How to Pick the Right Personal Loan for You

Choosing the right personal loan is mostly about understanding your needs. If it is an emergency, instant personal loans or medical loans work best. If you are planning something like a wedding or renovation, you can compare options at your own pace.

A quick tip is always to check the personal loan interest rate and use a personal loan EMI calculator. This helps you understand how much you will pay every month and whether the EMI fits your budget. And most importantly, choose a reliable loan provider. Apps like Kissht offer clarity, transparent charges, and a safe borrowing experience.

Why Many Borrowers Prefer Kissht

Kissht has become a popular choice for personal loans because the entire journey feels stress-free and straightforward. You can apply online, upload documents easily, and receive quick approval. Whether it is a renovation, medical expense, travel plan, or debt consolidation, the platform offers options that fit different needs.

Since Kissht is an RBI-approved loan app, borrowers also feel more comfortable with the security and transparency. You can check the expected EMI on the app, pick a repayment plan that suits you, and track everything in one place. For someone looking for an easy, reliable digital loan experience, Kissht is often the first choice.

FAQs About Types of Personal Loans in India

1. What types of personal loans do people usually take in India?

The most common ones are wedding loans, home renovation loans, medical loans, travel loans, debt consolidation loans, small personal loans, and higher education loans.

2. Which loan works best in an emergency?

Medical loans and instant personal loans are usually the fastest to get during emergencies.

3. Are instant loan apps trustworthy?

Choose only secure and authorised platforms. Apps like Kissht are RBI-approved, which means your data and money stay safe.

4. How do I know my EMI before applying?

Use a personal loan EMI calculator. It helps you easily plan your monthly budget.

5. Can self-employed individuals apply for personal loans?

Yes. Many digital lenders accept applications from both salaried and self-employed borrowers.