Personal loan
Unsecured money for planned and unplanned expenses: no property or gold as security, and disbursal in days, not weeks.
- Rates from
- 10.50%
- Amount
- ₹1 lakh – ₹30 lakh
- Tenure
- 1 – 7 years
- Our charges
- Told upfront
Good for
- Wedding expenses
- Medical treatment
- Home renovation
- Clearing credit-card debt
- Travel
- Education costs
How we help
A personal loan is unsecured: the lender looks only at your income, your employer and your credit history. That makes it the quickest loan to arrange, and also the one where rates vary most between lenders for the same person.
We check your profile against banks and NBFCs that favour your employer category and CIBIL band, then put the best two or three offers in front of you, with processing fees and foreclosure terms spelled out.
Who can apply
- Salaried, self-employed or a professional, aged 21 to 60
- Net monthly income of ₹20,000 or more (varies by city and lender)
- At least 1 year of work experience, and 6 months in your current job
- CIBIL score of 700 or above for the best rates
Documents to keep ready
- PAN card and Aadhaar card
- Salary slips for the last 3 months
- Bank statements for the last 6 months
- Form 16, or ITRs for the last 2 years if self-employed
- Proof of current address and a passport-size photograph
Criteria are indicative. The lender makes the final decision on eligibility, rate and amount under its own credit policy.
Estimate your EMI
Your personal loan
Indicative. Your final rate depends on the lender and your credit profile.
Common questions
How quickly is the money disbursed?
With complete documents, most lenders disburse in 3 to 7 working days. If your bank has a pre-approved offer for you, it can be faster.
Can I close the loan early?
Most lenders allow foreclosure after 6 to 12 EMIs, usually with a charge of 2% to 5% of the outstanding amount. We show you each lender’s terms before you choose.
From a borrower
I needed funds for my daughter’s wedding at short notice. Motto compared offers from four banks and got me a rate almost 2% lower than my own bank quoted. The money came in five working days.
