Published: June 30, 2025
Updated: August 4, 2025
Category: All
Need to get your home interiors done, cover unforeseen medical bills, or plan a wedding? Worry not! A personal loan can be your safety net.
One of the most accessible forms of credit available today, a personal loan can provide the financial support required without going through the hassle of lengthy approval processes.
An individual can borrow an unsecured loan from banks, non-banking financial companies (NBFCs), or digital lenders without pledging any asset. That unsecured loan is called a personal loan, meaning there's no need for security. The eligibility is assessed by the lenders based on income, credit history, employment status, and repayment capacity.
Over a preset tenure, the borrowed amount is repaid in fixed monthly installments, also known as EMIs (equated monthly installments).
We have heard about specific purpose loans like home or car loans; however, personal loans are multipurpose.
Personal loans can be taken for:
Unsecured Loan: Since it's an unsecured loan, no collateral is required.
Quick Disbursal: The best part about it is the quick disbursal; often processed within 24 to 48 hours.
Flexible Tenure: It has a flexible tenure, ranging from 12 to 60 months.
Fixed EMIs: Due to fixed EMIs, the monthly payments remain consistent throughout the term.
Personal loan can be of various kinds. Although the basic structure remains the same, the purpose of the loan, however, can differ, and several lenders also offer specific variants.
To fund your domestic or foreign trips.
For unplanned health-related expenses.
Can be used for short-term certifications.
For covering high-budget bills.
Gives you the liberty to combine multiple debts into one manageable EMI.
In case of additional funds requirement, one can seek a top-up loan on their existing personal loan.
It's always wise to understand how much your monthly repayment will be before applying for personal loans online.
You can download a personal loan app. Using tools like a personal loan EMI calculator can help calculate your EMIs based on several factors like total loan amount, tenure, and interest rate.
Loan Amount: INR 5,00,000
Tenure: 3 years
Interest Rate: 12% per annum
Approximate EMI: INR 16,600
Lenders usually require basic KYC documents, income proof, and bank statements.
You get approvals within minutes, thanks to instant loan apps.
You can utilise the money for anything you need; there are no restrictions.
When you take and repay a personal loan responsibly on time, it can boost your credit score.
The criteria may vary across lenders; however, the general benchmarks are as below:
| Criteria | Requirement |
|---|---|
| Age | Between 21 and 60 years |
| Employment | Stable employment with regular income |
| Income | Minimum income requirement (differs by city and lender) |
| Credit Score | Good credit score, ideally above 750 |
The higher your credit score is, the better rates you attract.
Employees of reputed companies may receive better terms.
Higher income may lower risk for lenders.
Larger amounts or longer duration can influence rates.
It is important to check your credit report always.
Do not borrow more than your repayment capacity. It might land you in trouble.
To save more, compare lenders' terms and conditions, processing fee, and personal loan interest rates.
Last not the least, read the fine print carefully.
Digital lending platforms like Kissht offers unsecured instant personal loan through its simplified digital procedure, without the need for any documentation.
Whether you are a salaried professional, gig worker, or first-time borrower, the loan approvals and disbursals are swift, making it ideal for time-sensitive needs.
Their flexible EMI options and transparent policies make it a preferred choice.
Kissht also integrates with retail merchants, allowing easy EMI-based purchases alongside standard loan services.
Personal loans can be approved and disbursed within 24 to 48 hours, sometimes even faster. Platforms like Kissht offer a fully digital process with minimal documentation.
Eligibility criteria vary across lenders, but generally, applicants must be between 21 and 60 years old, have a stable income, and maintain a good credit score, preferably above 750.
You can use a personal loan EMI calculator available on most lender websites or apps. By entering the loan amount, interest rate, and tenure, you'll get a clear idea of your monthly repayment.
Fast, hassle-free loan for your personal needs.
Fuel your business growth with quick approvals.
Unlock your property's value with ease.
Boost your credit score with smart insights.
Email: [email protected]
Phone: 080 44745884 / 080 62816309
Location: Mumbai, Maharashtra
Download App: Available on Google Play Store