Question 1

What is the interest rate for personal loans in India?

Accepted Answer

Personal loan interest rates in India typically range from 10.5% to 24% per annum depending on the lender and your credit profile. Banks generally offer lower rates than NBFCs and digital lenders.

Question 2

What is the maximum personal loan amount I can get?

Accepted Answer

Personal loan amounts in India typically range from ₹50,000 to ₹50 lakhs, depending on your income, credit score, employer category, and the lender's policy.

Question 3

What documents are needed for a personal loan?

Accepted Answer

Common documents for a personal loan include: identity proof (Aadhaar, PAN), address proof, last 3 months' salary slips, last 6 months' bank statements, and Form 16 or ITR for income verification.

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