Apply for a personal loan with Leading Banks

Personal Loan

Goals into Reality with Personal Loans

Achieve Your Financial Goals with Personal Loans

We understand that financial needs can arise unexpectedly or be part of your planned goals. Our Personal Loans are designed to provide you with the financial flexibility you need, whether it’s for a vacation, wedding, medical expenses, home renovation, or any other personal requirement. With competitive interest rates, quick approval processes, and flexible repayment options, MyFinCorp is committed to helping you achieve your dreams with ease.

Why Choose MyFinCorp for Personal Loans?

Flexible Loan Amounts: Choose from a range of loan amounts to meet your specific financial needs.
Competitive Interest Rates: Benefit from attractive interest rates that keep your borrowing costs low.
Quick Approval and Disbursement: Experience fast processing times with approvals and funds disbursed promptly into your account.
Minimal Documentation: Enjoy a hassle-free application process with minimal paperwork required.
Flexible Repayment Options: Tailor your repayment schedule to fit your financial situation and goals.
No Collateral Required: Personal loans are typically unsecured, so you don’t need to provide collateral to secure the loan.
Use for Various Purposes: Use the funds for diverse purposes, from covering immediate expenses to fulfilling long-term goals.
Online Application: Conveniently apply for a personal loan online, making the process convenient and accessible.
Top-Up Facility: Option to increase your loan amount after a certain period, subject to terms and conditions.
Balance Transfer: Transfer your existing personal loan to another Banks for better terms and benefits.
Transparent Process: Clear fee structure with no hidden charges, ensuring transparency throughout your loan tenure.
Expert Guidance: Access to financial experts who can provide personalized advice and support throughout your loan journey.

10.5%

Interest Rate

Starts from 10.5 to 20%

100%

Loan Amount Range

1 lac to 40 lacs on eligibility

1.0%

Fees and Charges

Start from 1.0% to 2.5%

For Salaried Employees

KYC: Applicant and Co-Applicant

PAN Card (Mandate)
Aadhar Card (Mandate)
Voter ID (optional)
Driving License (optional)
Passport (optional)
Latest Passport Size Photo
Employer ID card
Resident Address Proof

Income Proof Documents:

3 months Pay slips (Latest)
IT returns for the past 2 years or Form 16 or PF ( Provident Fund ) Statement
6 months Bank Statement latest where your salary is credited

For Self-employed

KYC: Applicant and Co-Applicant

PAN Card (Mandate)
Aadhar Card (Mandate)
Voter ID (optional)
Driving License (optional)
Passport (optional)
Latest Passport Size Photo

Income Proof Documents :

Income Tax Returns ( ITRs ) for the Last 3 years ( Along with Profit & Loss and Balance sheet and Computation of income)
Office or Shop Business Registration Certificate.
One year Bank Statement from personal a/c and Current Account
GST registration certificates, 1 year GST monthly returns (if applicable.)
Partnership deed in case of partnership firms (if the applicant is one of the partners).
Certificate of Incorporation in case of Limited or Pvt. Ltd Company (if the applicant is one of the Directors).

A personal loan is an unsecured loan provided by banks and financial institutions to individuals for various personal expenses, such as weddings, medical emergencies, home renovations, or debt consolidation. Unlike secured loans, personal loans do not require collateral.

Eligibility criteria typically include factors such as age (usually between 21 and 60 years), income stability, employment status (salaried or self-employed), credit score, and residential stability. Lenders assess these factors to determine the borrower's ability to repay the loan.

The loan amount depends on factors such as the borrower's income, creditworthiness, repayment capacity, and the lender's policies. Generally, lenders offer personal loans ranging from ₹50,000 to several lakhs, depending on eligibility criteria.

Personal loan interest rates can be fixed or floating, varying based on factors like the borrower's credit profile, loan amount, tenure, and market conditions. Fixed rates offer stable monthly payments, while floating rates may fluctuate during the loan tenure.

Personal loans are typically repaid in equated monthly installments (EMIs) over a predetermined tenure, ranging from 1 to 7 years or longer, depending on the lender's terms and the borrower's preference. Borrowers can repay through post-dated cheques, electronic clearance service (ECS), or auto-debit facilities.