Personal Loan
Welcome to AADHAR CARD LOAN
Personal loans deliver quick and convenient access to funds—but come with relatively higher interest and stricter repayment rules. Following RBI’s new regulations, comparing lenders, and maintaining financial discipline ensures you choose the best loan option tailored to your needs.
We understand that time is of the essence, so we make it our priority to ensure that your experience with Aadhar Card Loan is as fast as possible. We do this by making our loan application process as easy and hassle-free as possible. You can expect speedy approvals and disbursements on our loans.
Personal Loans in India: Interest Rates, Eligibility & How to Apply
Overview & Importance
Personal loans provide quick access to unsecured funds without collateral, ideal for emergencies, travel, weddings, or debt consolidation.
Latest Interest Rates & Fees (2025)
| Lender | Interest Rate (p.a.) | Processing Fee |
|---|---|---|
| IDFC FIRST Bank | 9.99% onwards | Up to ~2% |
| Axis Bank | 10.49%–22%+ | Up to 2% or more |
| ICICI Bank | 10.85%–16.65% | Up to 2% |
| HDFC Bank | 10.90%–24% | Up to ₹6,500 (~2%) |
| SBI | 10.30%–15.30% | Up to 1.5% |
Several banks now offer starting rates as low as ~9.99% p.a. to well-qualified applicants. Public sector lenders like SBI and BoB have reduced their MCLR rates recently—a further relief to borrowers.:contentReference[oaicite:1]{index=1}
New RBI Guidelines & Regulatory Updates
- 50% EMI cap: Borrowers may only allocate up to 50% of monthly income to unsecured debt like personal loans and credit cards.:contentReference[oaicite:2]{index=2}
- Higher risk weights: Banks now assign 125% risk weights for personal loans to promote responsible lending.:contentReference[oaicite:3]{index=3}
- Real-time credit reporting: Lenders must now report loan activity to bureaus every 15 days.:contentReference[oaicite:4]{index=4}
- Cooling-off period: Borrowers must wait 30–45 days before applying for another personal loan after one is sanctioned.:contentReference[oaicite:5]{index=5}
- Digital lending norms: Apps must be registered with banks/NBFCs, store data in‑India, disclose terms clearly, and follow ethical recovery practices.:contentReference[oaicite:6]{index=6}
Eligibility: Who Can Apply?
- Indian citizen aged ~21–60 years (varies slightly by bank).:contentReference[oaicite:7]{index=7}
- Salaried applicants should earn at least ₹15,000–25,000/month; self-employed need ~₹2 lakh+ annual income with stable business history.:contentReference[oaicite:8]{index=8}
- Credit score ideally 700+; higher scores may unlock lower rates.:contentReference[oaicite:9]{index=9}
- Minimum employment tenure: 1–2 years, with at least 1 year at current employer.:contentReference[oaicite:10]{index=10}
Popular Personal Loan Platforms & Apps
- CASHe: Instant short-term loans from ₹10,000; minimal KYC; zero prepayment charges.:contentReference[oaicite:11]{index=11}
- KreditBee: Loans ₹3,000–5 lakh; disbursal in minutes; digital onboarding.:contentReference[oaicite:12]{index=12}
- mPokket, Smartcoin, TrueBalance: Small-ticket personal credit with limited documentation and quick turnaround.:contentReference[oaicite:13]{index=13}
- Kissht: Consumer loans and personal loans up to ₹5 lakh; loans against property now introduced.:contentReference[oaicite:14]{index=14}
- Fibe (with Mirae Asset): Salaried personal loans via fintech partnerships.:contentReference[oaicite:15]{index=15}
How to Apply: Step-by-Step
- Compare current offers from banks and NBFCs—use digital marketplaces or official bank portals.
- Check pre-approved offers if you’re an existing customer—they may come with rate discounts.:contentReference[oaicite:16]{index=16}
- Submit application with income proof (salary slip, bank statements, ITR), identity documents (PAN, Aadhaar), employer proof, etc.
- After verification, loan is approved—typically within hours to a few days for traditional banks, instantly for apps.
- Funds disbursed into your bank account; EMIs begin as per repayment schedule.
Tips to Secure the Best Terms
- Raise your credit score above 750: lower utilization, clear debts, avoid multiple inquiries.:contentReference[oaicite:17]{index=17}
- Shop multiple lenders, and negotiate using competing quotes.:contentReference[oaicite:18]{index=18}
- Add a strong co-applicant to improve eligibility and rate offers.:contentReference[oaicite:19]{index=19}
- Choose a shorter tenure (2–3 years instead of 5); it may raise EMI but reduce total interest.:contentReference[oaicite:20]{index=20}
- Understand all charges: processing fees (0.5–3.5%) plus GST, late-fee, foreclosure penalties.:contentReference[oaicite:21]{index=21}
Risks & Considerations
Personal loans in India are rapidly growing—but concerns over unsecured debt levels and delinquency have risen. The RBI is monitoring defaults closely and has tightened norms to mitigate lending risk. Borrow responsibly and stay informed.:contentReference[oaicite:22]{index=22}
