Personal Loans | Features, Eligibility & Documents

Features and Benefits

A personal loan is an unsecured loan not backed by collateral, making it a flexible financing option with no limitations on its use.

Combine multiple debts into a single loan with a lower interest rate to save on interest and simplify your payments.

Increase your home’s value and improve your living conditions by funding renovation projects easily.

Cover unexpected surgery, hospitalization, or car repairs to avoid financial hardship during emergencies.

Lenders consider the following factors to decide your eligibility:

Age: Range of 21 years to 60 years.
Income (Salaried/Self-Employed): Net monthly income of ₹15,000/-.
Business Turnover: Yearly transactions minimum of ₹20 lakhs (Self-employed).
Credit Score: Must be above 650 with a good credit history.
Stability: Employment stability and clear repayment history.
Nationality: Must be a Resident Citizen of India.
Financial Health: Balanced Debt-to-income ratio.

Frequently Asked Questions

What is the maximum amount I can borrow? +

You can avail of a personal loan ranging from ₹50,000 up to ₹40 Lakhs depending on your repayment capacity.

Do I need to provide any security or collateral? +

No. A personal loan is an unsecured loan, meaning you do not need to pledge any asset as collateral.

How is the interest rate determined? +

Interest rates are based on your CIBIL score, monthly income, and debt-to-income ratio.

Can I apply if my CIBIL score is exactly 650? +

Yes, 650 is our minimum threshold, though higher scores generally receive better interest rates.

Why Choose Safal Finance?

Get funds within 24 hours.

Digital process, zero bank visits.

Lowest rates starting at 10.5%.