Personal Loan
Personal loans across India
Pre-approved personal loans, often disbursed the same day
Personal loans from RBI-licensed banks and NBFCs - unsecured, ticket from INR 50,000 to INR 50 lakh, tenor 1-7 years. Most metros see same-day disbursal once documents are complete. Soft-pull eligibility check returns multiple offers in one screen.
Common personal-loan use cases
What people borrow personal loans for
Medical emergency
Quick disbursal matters most here. Same-day options exist with select banks and digital NBFCs once your salary slip and bank statement are uploaded.
Education expenses
Tuition top-up, coaching fees, certification programs. If the amount is large and the course is long, an education loan may be a better fit; the marketplace flags this.
Wedding expenses
One of the most common reasons in India. Tickets typically INR 3-15 lakh, tenor 3-5 years. Some lenders offer wedding-specific schemes with flexible repayment.
Home renovation
Cheaper than a top-up on the home loan in some cases. The processing speed is faster, but the rate is higher than a secured top-up.
Debt consolidation
Pull together multiple high-rate borrowings (credit-card outstanding, BNPL, family debts) into a single personal loan at a lower blended rate. Useful when the credit-card APR is above 36 percent and the personal loan rate sits at 12-18 percent.
Travel and other personal use
International travel, big-ticket purchase, anniversary gift, festival expenses. Lenders do not ask for end-use proof on most personal loans up to INR 25 lakh.
How it works
From check to credit, in three steps
Soft eligibility in two minutes
Income, employer, existing EMIs and the loan amount. We surface offers from every matching lender.
Pick a lender, complete documents
PAN, Aadhaar, three months' salary slips, six months' bank statement. Hard pull happens here.
Disbursal
Same day for many digital-first lenders once the file is complete; up to 3 working days for others.
Who it is for
Who borrows personal loans through us
Free for borrowers. Lender pays the marketplace fee.
Soft-pull eligibility check is free and does not affect your CIBIL. The lender pays Infyner only on disbursal. The rate, processing fee and all-in APR you see on the offer card are exactly what the lender will charge.
Trust and security
How personal loans on the marketplace work
RBI-licensed lenders only
No predatory app-only lenders, no informal money. Every offer comes from a bank, small finance bank or NBFC the RBI regulates.
All-in cost on the card
Effective interest rate, processing fee, GST on the processing fee, late-payment penalty - on one card so the comparison is real.
No hidden insurance
If a lender bundles credit-life insurance, we show it explicitly and let you toggle it off. Bundled insurance is rarely the best price - usually buy separately.
Disbursal SLA tracked
Once you pick a lender, we track each underwriting step and email you on every change. Useful when the lender's branch goes silent.
FAQ
Common questions about personal loans
Three inputs - CIBIL score, employer category and existing FOIR (fixed-obligation-to-income ratio). A CIBIL above 760 with a CAT-A employer and FOIR below 35 percent gets the published floor rate. Each step down moves the rate up by 50-200 bps. The offer card shows the rate that actually applies to your file.
Standard amortising EMI on a reducing-balance basis. EMI = P * r * (1+r)^n / ((1+r)^n - 1). Personal loans use monthly compounding; the effective annual rate is slightly higher than the quoted nominal rate.
Fixed-Obligation-to-Income Ratio - the percentage of your monthly income that goes to existing EMIs and credit-card minimums. Most lenders cap FOIR at 50 percent for unsecured loans (some go to 60 percent for high-income borrowers). If your FOIR is already at 50 percent, the lender will reduce the loan amount or reject the application.
Yes for most lenders - typically 2-5 percent of the prepaid principal. Some lenders waive foreclosure after 12 EMIs paid. The offer card shows the exact terms by lender.
Digital-first lenders (e.g. select NBFCs and fintech-backed banks) can disburse the same day if you finish documents and KYC by mid-afternoon. Traditional banks take 1-3 working days. Faster does not always mean cheaper - sometimes the rate gap is worth the wait.
Most lenders allow part-prepayment after 6-12 months. Each partial prepayment reduces the outstanding principal, which reduces the interest portion of subsequent EMIs. You can also request EMI reduction or tenor reduction depending on lender policy.
For personal loans up to INR 25 lakh, most lenders do not ask for end-use proof. Above that, some lenders require a self-declaration of purpose. For specific use cases like education or medical, an end-use loan (with potentially better rates) may be more appropriate.
Difficult but not impossible. Some NBFCs underwrite below-700 borrowers at higher rates (15-22 percent). The marketplace surfaces them so you do not waste hard pulls on banks that will reject. Sometimes the better path is improving CIBIL for 6-12 months and applying again.
If your existing rate is significantly above the current market rate (typically a 3+ percent gap), a balance transfer can save real money. The new lender disburses to clear the old loan; you start paying the new EMI at the lower rate. The processing fee on the new loan applies, so model the break-even months before deciding.
Often yes when you have credit-card outstanding above INR 50,000 - card APRs at 36 percent are punishing. A personal loan at 14 percent that pays off the card is cheaper to service. Just make sure you actually pay off the cards instead of running them up again - that is the trap.
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