Urgent cash needed for medical bills, home repairs, travel or gadgets? Apply for collateral-free ₹1 lakh personal loan online with only Aadhaar + PAN. Fast approval, flexible 12-60 month EMIs, minimal docs – salaried/self-employed step-by-step process.
Major Benefits Explained
No collateral required – unsecured loan protects your assets completely. Strong CIBIL scores unlock best rates based on income stability. Moreover, flexible tenures from 12 to 60 months let EMIs fit your budget perfectly. Use online EMI calculators for planning. Therefore, approvals happen fast with digital KYC. On the other hand, funds hit accounts within hours to days post-verification.
Read Also : Change Aadhaar Mobile Number at Home! New App Update–No Centre Visit Needed
Complete Eligibility Criteria
Salaried applicants qualify at 22-65 years with minimum ₹20,000 monthly income (₹25,000 for Delhi/Mumbai). Self-employed need 25-65 years age plus 3-year business history. All require 1-year total experience, 6 months current role. CIBIL score above 750 preferred for best terms. Meanwhile, check personal loan eligibility calculators before applying to know exact limits.
| Criteria | Salaried Details | Self-Employed Details |
|---|---|---|
| Age Range | 22-65 years | 25-65 years |
| Min Income | ₹20K/month (₹25K metro) | Industry turnover/profit |
| Experience | 1 yr total, 6 months current | 3+ years in business |
| Credit Score | 750+ CIBIL preferred | 750+ CIBIL preferred |
Full Documents Checklist
Aadhaar and PAN form core KYC. Salaried submit last 3 salary slips, 6-month bank statements. Self-employed provide ITR/Form 16, P&L accounts, balance sheets, GST registration. Signature proofs include passport/bank passbook. However, co-applicants need identical basics. Digital KYC via DigiLocker/CKYC often eliminates physical verification. Note: Originals required only if digital fails.
| Document | Salaried | Self-Employed |
|---|---|---|
| Identity/Address | Aadhaar, Voter ID, Passport | Aadhaar, Voter ID, Passport |
| Income Proof | 3 months salary slips | ITR, P&L, Balance Sheet |
| Bank Proof | 6 months statements | 6 months statements |
| Business Proof | Not Applicable | GST, License, Registration |
Interest Rates & Charges
Rates vary by lender, credit profile, income. Good scores get competitive pricing. Expect processing fees, possible prepayment penalties. However, no hidden charges with transparent lenders. Always compare offers before finalizing.
Read Also : Solar Panel Yojana 2025: Get 25 Years of Free Electricity for Just ₹499
9-Step Online Application Process
Step 1: Enter mobile, PAN, pincode, employment type.
Step 2: Verify mobile via 6-digit OTP instantly.
Step 3: Add email, DOB, gender, annual income details.
Step 4: Salaried share employment info, bank statements via net banking.
Step 5: Complete address KYC through CKYC/DigiLocker/Aadhaar XML.
Step 6: Verify identity with live selfie capture.
Step 7: Submit bank account for disbursal verification.
Step 8: Fill additional details like loan purpose, marital status.
Step 9: Choose repayment method, setup e-NACH, digital sign agreement via OTP.
Funds credit follows quick verification!
FAQ
Minimum salary requirement?
₹20,000/month for salaried outside metros, ₹25,000 in Delhi/Mumbai – proves repayment capacity.
Any collateral needed?
Zero collateral – pure personal loan based on credit score, income verification only.
How long for loan disbursal?
Same day to 48 hours typically with complete digital documents and eligibility met.
CIBIL score impact?
750+ unlocks best rates and higher limits – improve score before applying.
