Home » Personal Loan
Need money for a medical bill, a wedding, a home renovation or to combine your debts? A personal loan needs no collateral. We help salaried professionals, self-employed people and business owners get one through our bank and NBFC partners.
LOAN AMOUNT
Up to ₹40 lakh
Starts at ₹50,000. Depends on income and credit profile.
INTEREST RATE
From 8.75% p.a.
Depends on your credit score and income.
MAX TENURE
Up to 84 months
Choose from 12 to 84 months.
APPROVAL
24 to 48 hours
After documents are verified.
OVERVIEW
A personal loan helps you respond fast to a wedding, a medical bill, a renovation or a trip. You do not pledge property, gold or fixed deposits. That makes it open to many borrowers, including first-time applicants.
You get predictable EMIs, a clear interest rate and a set tenure. Fixed repayment dates help you plan your month. Paying on time also builds your credit profile, which can help you get higher amounts at better rates later.
The lender looks at your income, job stability and credit profile. We guide you from picking a lender to repayment planning.
A personal loan is right if
USES
Choose the need that fits you. Your advisor explains how it works.
Pay for hospitalization, surgery or critical treatment.
Cover the venue, catering, jewelry and travel.
Remodel, repair or upgrade without pledging your property.
Combine your EMIs and card bills into one monthly payment.
BENEFITS
Fast, simple funding with no assets at risk.
Approval is based on your income, job stability and credit profile.
Rates start from 8.75% p.a. through our partners. Your rate depends on your credit score, income and repayment history.
Pick a tenure from 12 to 84 months to fit your budget.
REFER AND EARN
Tell them about us. We will help them explore their options.
ELIGIBILITY
Each lender has its own rules. Final eligibility depends on the lender’s checks.
What do lenders check?
Lenders want steady income, strong finances and a clean repayment record.
Lenders check your job and monthly income.
Salary slips
Latest 3 to 6 months
Bank statements
Last 6 months
Employment proof
Employee ID or appointment letter
KYC
PAN and Aadhaar
Doctors, CAs, consultants, freelancers and business owners can apply. Lenders check your ITR, income and credit score.
ITR
Last 2 years
Bank statements
Last 6 months
Business history
Usually 2 to 3 years
KYC
PAN and Aadhaar
You may need fewer documents and may get approval sooner, sometimes within a few hours.
Eligibility check
Ask your advisor if you qualify
KYC
PAN and Aadhaar
Other papers
Vary by lender
Approval time
Often within a few hours
Work out your EMI and get the exact list of papers lenders ask for.
For planning only. Your lender confirms the final EMI.
RATES, FEES AND CHARGES
Costs depend on the lender and your profile. We explain every charge first.
Item
Typical
Notes
Interest rate
8.75% – 24% p.a.
Depends on lender, amount, credit score and tenure
Loan amount
₹50,000 – ₹40 lakh
Depends on income, credit profile and obligations
Tenure
12 – 84 months
Longer tenure means a lower EMI but more total interest
Collateral
None
Unsecured loan
Prepayment or foreclosure
0% – 5% of outstanding principal
Usually allowed after a 6 to 12 month lock-in. Some lenders waive it
BEFORE YOU APPLY
A little preparation helps your loan move faster.
Find a monthly payment you can handle.
Longer tenures lower your EMI. Shorter ones save on interest.
KYC, income proof and 6 months of bank statements.
A stable score can improve your chances.
Lenders count your current obligations.
Know the lock-in period and charges.
Why Nihal Fintech
Walking into a bank gets you that bank’s answer. Coming to us puts your profile in front of the lenders most likely to approve it.
RELATED SERVICES
Looking for other financial solutions? Explore our loan and advisory services.
How we work
At every step you know what is happening, who is handling it and what you get at the end of it.
01
We look at your income, credit history, assets and existing loans, and tell you honestly what is possible.
who
You + your advisor
You get
A clear idea of what you can get
02
We pick the banks and finance companies whose rules fit your profile, so you apply where approval is likely.
who
Your advisor
You get
A short list of lenders
03
We give you one checklist, collect your papers and check them before the lender sees your file.
who
You + your advisor
You get
A complete, checked file
04
We present your case to the chosen lender and handle their questions for you.
who
Your advisor
You get
No need to chase the lender
05
We compare the offers and try to get you better rates, fees and terms where possible.
who
Your advisor
You get
Offers you can compare
We follow up on the final steps until the money reaches you.
who
You + your advisor
You get
Funds in your bank account
CASE STUDY
A recent case from our work.
WORKING CAPITAL ENHANCEMENT
A Mumbai-based engineering components manufacturer with ₹60 Cr turnover and 12 years in business. Its existing ₹4 Cr cash credit limit no longer matches its order book.
Our approach: assess the working capital need from audited financials, the stock and debtor cycle, and the order pipeline. Then propose increasing the limit to ₹8 Cr, backed by stock and book debts, with the factory land and building as additional security.
Client
Engineering manufacturer, Mumbai
Turnover
₹60 Cr
Structure
Cash credit enhancement (₹4 Cr → ₹8 Cr)
Security
Factory land & building, valued ~₹12 Cr
Any Indian resident between 21 and 60 years (salaried) or 21 and 65 years (self-employed) with a steady income and a CIBIL score of 650 or above can get a personal loan. Eligibility depends on factors such as employment type, monthly income, existing financial obligations, and credit history. Both salaried professionals and self-employed individuals including doctors, chartered accountants, consultants, and business owners can avail a personal loan through Nihal Fintech’s partner lenders.
Basic documents include KYC proof (PAN and Aadhaar), income proof (salary slips for salaried / ITR for self-employed), last 6 months’ bank statements, employment proof, and recent photographs. Pre-approved customers may require fewer documents. Specific requirements may vary by lender.
Personal loan amounts typically range from ₹50,000 to ₹40 Lakh, depending on your income, credit profile, existing obligations, and the lender’s policies. Some NBFCs offer loans up to ₹55 Lakh for high-income applicants with excellent credit scores.
No. Personal loans are unsecured loans, meaning you do not need to pledge any collateral, property, gold, or fixed deposits. Approval is based on your income, employment stability, and creditworthiness.
Personal loan interest rates in India currently range from 8.75% p.a. to 24% p.a. depending on the lender, loan amount, credit score, and repayment tenure. Nihal Fintech connects you with multiple partner lenders to help you secure the most competitive rate available.
Most personal loans are approved within 24 to 48 hours after complete document submission and verification. For pre-approved customers, approval can be even faster – sometimes within a few hours.
Yes. Most lenders allow personal loan prepayment or foreclosure after a lock-in period (usually 6–12 months). Prepayment charges typically range from 0% to 5% of the outstanding principal. Some lenders waive charges after a certain number of EMIs — ask your Nihal Fintech advisor for lender-specific details.
Repayment tenure for a personal loan typically ranges from 12 months to 84 months (7 years). Longer tenures reduce your monthly EMI but increase the total interest paid. Your Nihal Fintech advisor can help you choose the optimal tenure based on your financial situation.
Yes. Self-employed professionals, freelancers, consultants, and business owners can get a personal loan. Eligibility is assessed based on ITR filings, business vintage (minimum 2–3 years), annual income, and credit score. Documentation includes ITR, profit & loss statements, and bank statements.
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Mumbai: +91 77009 44833
Ahmedabad: +91 99985 84455
