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Get Closer to Your Goals
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Explore flexible Personal Loan options tailored to meet your needs.

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Personal Loan Features


Offers for New Customers

3 Unique Variants

Loan of up to Rs. 40 Lakh

Tenure of up to 84 Months

No Guarantor / Collateral

No Hidden Charges

Features and Benefits of our Personal Loan

A personal loan is an unsecured loan that is not backed by collateral or security. This makes it a flexible financing option, as there are no limitations on its use.

The following are the ways a personal loan can be useful:


Personal Loan Eligibility Criteria

To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.

Documents required to apply for Personal Loan

Fees and Charges for Personal Loan

The fees and charges of personal loans usually vary from lender to lender and from case to case. The list below gives you a fair idea:

Particulars Charges
Loan Processing Fees ₹2,999 to 5% of Loan Amount
Loan Cancellation ₹3,000 to 5% of Loan Amount
Stamp Duty Charges ₹150 to ₹300
Legal Fees As per actuals
Penal Charges Usually 2% per month
EMI / Cheque Bounce ₹499 to ₹599

Other fees and charges that lenders may levy on your personal loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.

Personal Loan Reviews

4/5

During the COVID 19 times, I was in urgent need of some funds for the treatment of my brother and I was not able to get it from anywhere...

Reviewer 1 Neelima Jain
4/5

RULOANS helped me in getting a personal loan for my wedding. I was pretty impressed by the rate of interest, terms and conditions...

Reviewer 2 Sheetal Jain
4/5

I took a personal loan through RULOANS and used it to clear my credit card dues. This way I saved some money...

Reviewer 3 Rajesh Dodiya
4/5

The comparison table, which RULOANS have provided on their website, is best. As it is very useful for every loan seeker...

Reviewer 4 Pritesh Desai

Personal Loan FAQs

Depending on several factors, including the loan amount, loan term, income, and employment history, different lenders have different minimum credit score requirements to be approved for personal loans. Most lenders consider a credit score of 650 or above to be strong enough to qualify for a personal loan. To be eligible for a personal loan with low-interest rates and advantageous terms, some lenders may require a credit score of 700 or better.

The minimum salary requirement for a personal loan typically starts from ₹15,000 per month. However, this can vary from bank to bank based on location, profile, and employment status.

Yes, many banks offer personal loans to pensioners, especially if they maintain a pension account with the same bank. Loan eligibility depends on age, pension amount, and repayment capacity.

Students typically cannot apply for personal loans unless they have a stable income source or a co-applicant with sufficient income. However, education loans are available for students.

Yes, you can apply for a personal loan even if you have an existing home loan, provided you meet the lender's eligibility criteria and have a healthy credit profile and repayment capacity.

Some lenders may offer personal loans without a salary slip by evaluating bank statements or income tax returns. However, it is generally more difficult without proper income documentation.

Yes, personal loans can be used to fund wedding-related expenses, including venue, catering, decoration, and travel.

Yes, you can take personal loans from multiple banks, provided you meet the eligibility criteria and your creditworthiness allows it.

Yes, some banks charge prepayment or foreclosure fees if the loan is paid before the full tenure. It usually ranges from 2% to 5% of the outstanding amount.

No, personal loans are unsecured loans and do not require any collateral or guarantor in most cases.

Personal loan repayment tenures generally range from 12 months to 84 months (1 to 7 years), depending on the lender and loan amount.

You can use an online EMI calculator by entering the loan amount, interest rate, and tenure to estimate your monthly installment.

The maximum loan amount varies by lender and borrower profile. Typically, it ranges from ₹50,000 to ₹40 lakhs.

Most personal loans are processed within 24 to 72 hours, provided all documents are submitted and verified successfully.

Yes, you may negotiate the interest rate if you have a strong credit score, good relationship with the bank, or if you receive a better offer from another lender.

Yes, most banks and NBFCs offer online applications for personal loans with digital document upload and approval.

Defaulting on personal loan payments will negatively impact your credit score, incur penalties, and may lead to legal action depending on the lender's policy.