Zero collateral
No security, no guarantor, no lien on your assets — the loan is underwritten on your income and repayment record.
Personal Loan
Collateral-free funding for a wedding, medical bill, tuition fee or a month that simply ran long. Sanctioned on your income, not on what you pledge.
Unsecured
Money for the moments that will not wait.
Collateral-free funding for a wedding, medical bill, tuition fee or a month that simply ran long. Sanctioned on your income, not on what you pledge.
| Loan amount | ₹50,000 – ₹10 Lakh |
| Tenure | 12 – 60 months |
| Interest rate | 13.50% p.a. onwards |
| Processing fee | 1.50% – 2.50% of sanctioned amount |
| Prepayment | Permitted after 6 EMIs |
Features
What you get
Sanction in 24 hours
Complete digital KYC and a verified income document is usually all it takes to get a sanction letter the next working day.
Flexible tenure
Pick anything from 12 to 60 months and reshape the EMI to fit what your salary can comfortably absorb.
Part-prepayment allowed
Prepay after 6 EMIs with a nominal foreclosure charge, or clear the account fully with no lock-in beyond that.
Eligibility
Who can apply
- Indian resident aged 21 – 58 years at loan maturity
- Salaried with 6 months in the current job, or self-employed with 2 years of business vintage
- Minimum net monthly income of ₹18,000 (metro) / ₹15,000 (non-metro)
- Bureau score of 680 and above, with no active written-off account
Meeting the criteria above makes you eligible to apply; it is not by itself a sanction. Every application is subject to credit appraisal and verification, and we will tell you plainly if we cannot help.
Documents
What to keep ready
- PAN card and Aadhaar (or any officially valid document for KYC)
- Last 3 salary slips, or the last 2 years' ITR for self-employed applicants
- 6 months of bank statements for the salary/primary current account
- One recent passport-size photograph
Originals are needed only for verification and are returned immediately. We accept DigiLocker-issued documents for KYC.
Full transparency
Interest, fees and charges
Everything that can ever be charged on this loan is listed here and repeated in your Key Fact Statement. Nothing outside this list will appear on your account.
| Charge | Applicable amount |
|---|---|
| Processing fee | As stated in the sanction letter, deducted from the disbursal amount |
| Interest type | Fixed, on a monthly reducing balance |
| Late payment / penal charge | 2% per month on the overdue instalment amount only, not on the whole outstanding |
| EMI bounce charge | ₹500 per dishonoured instrument, plus the bank's actual charge |
| Part-prepayment | Permitted after 6 EMIs · 2% of the prepaid principal (nil on floating-rate loans to individuals) |
| Foreclosure | 3% of the outstanding principal after 6 EMIs (nil on floating-rate loans to individuals) |
| Duplicate statement / NOC | ₹250 per document |
| Stamp duty and legal charges | At actuals, as applicable in the state of execution |
| Goods & Services Tax | 18% on all fees and charges, as notified |
The interest rate applicable to you is set using the board-approved risk-based pricing model described in our Interest Rate Policy.
EMI Calculator
Work out your personal loan EMI
Pre-filled with a representative personal loan. Change any value to model your own.
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₹10 K₹2 Cr
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3 months15 years
Your monthly EMI
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- Principal amount₹0
- Total interest payable₹0
- Total amount payable₹0
Principal
Interest
Indicative only. The figures assume a fixed reducing-balance rate and equal monthly instalments, and exclude processing fees, GST, stamp duty and insurance. Your actual EMI is confirmed in the Key Fact Statement issued with your sanction letter.
FAQs
Personal Loan questions
Once your file is complete and the sanction is accepted, disbursal is normally same-day by NEFT/IMPS. Files submitted after 4:00 PM are processed the next working day.
A formal application creates a hard enquiry on your bureau report, which can move your score by a few points. Checking your eligibility on this site is a soft enquiry and does not affect your score.
Yes, after six EMIs have been paid. Part-prepayment and full foreclosure are both permitted; the applicable charges are listed in the schedule of charges above and in your sanction letter.
Also from Nawkar
Other loan products
Working capital
Business / MSME Loan
Working capital and growth funding for shops, traders, manufacturers and service businesses — sized on your cash flows, not on a rigid template.
- Amount₹1 Lakh – ₹50 Lakh
- Tenure12 – 60 months
- Interest15.00% p.a. onwards
Secured
Gold Loan
Turn idle household gold into working money in under an hour — valued transparently in front of you, insured, and vaulted until you redeem it.
- Amount₹10,000 – ₹25 Lakh
- Tenure3 – 36 months
- Interest11.50% p.a. onwards
Secured
Loan Against Property
Release the value locked in a house, shop or plot you already own — long tenures and our lowest rates, for expansion, consolidation or a large one-off need.
- Amount₹5 Lakh – ₹2 Crore
- Tenure24 – 180 months
- Interest10.75% p.a. onwards
Apply for a Personal Loan today.
Five minutes to apply, a decision within one working day, and a Key Fact Statement that spells out every rupee before you sign.