100% Unsecured
No Collateral
Personal Loans, Sorted the Right Way — Not Just the Fast Way
Independent personal loan advisory from Inwealfoney. We compare banks and NBFCs, structure your file, and negotiate your rate — so you don't accept the first offer your bank app shows you.
Personal loan rates from
9.99% p.a.*
Funding up to
₹40 Lakh
What is a personal loan
Unsecured funding for whatever life throws at you
A personal loan is unsecured credit from a bank or NBFC — no property or asset is pledged. Approval rests entirely on your income, credit score, and repayment capacity, and funds are typically disbursed within 24–72 hours of document submission.
Term Loan
Standard EMI Loan
A fixed sum disbursed upfront, repaid through equal monthly instalments over a chosen tenure — the most common form of personal loan.
Flexi / Overdraft
Draw as you need
A sanctioned limit is set aside; you draw and repay as needed, paying interest only on the amount actually utilised — useful for irregular expenses.
Balance Transfer
Refinance an existing loan
Move an existing personal loan to a lender offering a lower rate. Works best in the first half of your tenure, when the interest saving is largest.
Multi-lender comparison
Your file is matched against several banks/NBFCs, not pushed to just one.
Eligibility-first approach
We check your real FOIR and eligible amount before you commit to a lender.
Rate & fee negotiation
We flag flat-rate pricing and negotiate processing fees on your behalf.
End-to-end tracking
From application to disbursement, we follow up so you don't have to chase the branch.
Eligibility
Do you qualify? Here's what lenders actually check
Criteria vary by lender, but these are the core checks across salaried and self-employed profiles in 2026.
- ✓Age: 21–60 yearsLoan tenure must typically close before you turn 60–65, depending on the lender.
- ✓Minimum income: ~₹20,000–25,000/monthBenchmark for metro applicants; smaller cities and NBFCs may accept lower.
- ✓Work experience: 1–2 yearsIncluding at least 6 months with the current employer.
- ✓CIBIL score: 750+ for best rates700+ can still qualify, usually at a meaningfully higher rate.
- ✓FOIR up to ~50–60%Fixed Obligation to Income Ratio — all EMIs plus this loan's EMI relative to your income.
- ✓Age: 24–65 yearsSelf-employed professionals generally get a slightly wider age band than salaried applicants.
- ✓Business/practice vintage: 2–3 yearsStability of income matters more than peak earnings in any single year.
- ✓Declared ITR incomeLenders assess eligibility on your filed ITR — not gross business turnover.
- ✓CIBIL score: 750+ for best ratesSelf-employed profiles are typically priced 0.5–1% higher than salaried, even at the same score.
- ✓Consistent bank statement flowSteady credits over 12 months carry more weight than one strong year.
Loan at a Glance
Loan amount₹50,000 – ₹40 Lakh
Tenure12 – 84 months
Processing fee0 – 3% + GST
CollateralNone required
Shorter tenures and salary-account relationships typically get priced closer to the lowest end of the rate range.
Documentation
What you'll need to keep ready
Having these scanned and organised before you apply typically shaves days off approval time.
KYC (Everyone)
- PAN card (mandatory)
- Aadhaar / Passport / Voter ID / DL
- Recent passport-size photographs
- Address proof (utility bill / Aadhaar)
Salaried Income Proof
- Last 3 months' salary slips
- Form 16 / latest ITR
- Last 6 months' salary bank statement
- Employer ID / appointment letter
Self-Employed Income Proof
- Last 2–3 years' ITR with computation
- CA-certified P&L and balance sheet
- 6–12 months' business & personal bank statements
- Business registration / GST / Udyam
Credit & Existing Obligations
- Latest CIBIL/credit report
- Statement of any existing loans / credit cards
- Foreclosure letter (if doing a balance transfer)
Employment / Business Continuity
- Experience certificate (salaried)
- Shop Act / practice registration (self-employed)
- Office / business address proof
Co-Applicant / Guarantor
- KYC and income proof, same as above
- Relationship proof with primary applicant
- Recommended when it boosts eligible amount
Note: Exact requirements vary by lender and loan scheme. Share your profile with us and we'll send a checklist customised to the bank/NBFC we're targeting for you.
EMI Calculator
See your monthly EMI in seconds
Drag the sliders to match your loan amount, tenure, and expected rate.
₹5,00,000
12.00%
3 yrs
₹0
Monthly EMI
Principal
Interest
Total Interest
₹0
Total Payment
₹0
*Indicative calculation for illustration only, assumes reducing-balance interest. Actual EMI, rate, and eligible amount depend on lender policy, your credit profile, and processing/insurance charges.
Yearly Repayment Schedule
| Period | EMI Paid | Principal Paid | Interest Paid | Balance Remaining |
|---|
FAQs
Common personal loan questions
Most lenders cap your total EMIs (including the new personal loan) at roughly 50–60% of your net monthly income — this is called FOIR. So a higher salary, longer tenure, or lower existing EMIs directly increases your eligible loan amount. We can run an exact estimate against your profile.
Reducing balance charges interest only on the outstanding principal, which shrinks every month — this is the standard, transparent way to quote a rate. A "flat rate" charges interest on the original principal for the entire tenure, so an advertised 11% flat can work out close to 19–20% reducing. Always confirm which one you're being quoted.
Yes, personal loans are unsecured — no property, gold, or asset is pledged as collateral. Approval is based entirely on your income, credit score, and existing obligations, which is also why the rate is typically higher than a secured loan like a home or gold loan.
A few digital lenders offer limited no-ITR options for high-credit-score customers, usually at a lower loan amount or higher rate. It's the exception, not the norm — most self-employed applicants will need at least 2 years of ITR to access mainstream bank rates.
A balance transfer moves your outstanding personal loan to a new lender at a lower rate. It's most valuable in the first half of your tenure, since that's when the outstanding principal — and therefore the interest saved — is largest. We can check whether the saving clears the transfer costs.
Typical charges include a processing fee (roughly 0–3% of loan amount plus GST), and foreclosure or part-prepayment charges if you close the loan early — many lenders waive these after the first 12 months, so check the lock-in before signing.
With a complete document set, personal loans are usually the fastest lending product — sanction and disbursement often happen within 24–72 hours, and pre-approved offers from your existing bank can be instant.
Let's check what rate and amount you actually qualify for
Share a few details and we'll compare lenders on your behalf — no cost, no obligation, and no walking into ten different branches.
Inwealfoney · Loan advisory services. Personal loans are unsecured; rates, fees and eligibility are indicative and subject to lender policy at the time of application.