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☑ Low-Interest Personal Loans from 50+ Banks and NBFCs

☑ Up to 100 Lakh P Loan from a single bank

☑ Up to 7-year tenure for high eligibility and lower EMIs

☑ Quick online application with Easy Documents

☑ Trusted loan agency with a best-deal guarantee

☑ Get 100% processing fee refund* for loans above 15 Lakh

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We connect you with the right lender for your needs.

Best Personal Loan: Low Rates, Quick Online Approval

When in need of quick financial help, a personal loan (P Loan) can be an ideal solution. These loans are highly accessible, especially with online platforms offered by both banks and NBFCs. Aditya Birla, Axis Bank, Bajaj Finserv, HDFC Bank, HSBC, ICICI Bank, IDFC Bank, Kotak Mahindra Bank, RBL Bank, Standard Chartered, Tata Capital, and Yes Bank are among the leading financial institutions that provide personal loans with features like Flexi and Insta loans, offering easy, unsecured lending options to salaried individuals as well as government employees.

The best online platforms of these financial institutions provide a hassle-free application process, allowing borrowers to apply for loans online and get quick approvals. The low interest rates and attractive offers from these banks and finance companies make personal loans an attractive option for those with varying financial needs. To check your eligibility and initiate the application, you’ll typically need to provide some basic documents. Whether it’s through a traditional bank or a trusted finance company like these, personal loans have become one of the best ways to secure financial assistance swiftly and conveniently.

Here are few USP of personal loans

Personal Loans for Diverse Profiles: Personal loans are accessible not only to resident salaried individuals but also to those employed in the merchant navy, NRI customers, and retired pensioners who meet specific criteria.

Special Rates for Eligible Customers: Individuals working in corporate companies and government employees can benefit from lower interest rates. Moreover, for high-value personal loans, these rates can be further reduced, offering added advantages.

Versatile Use: Personal loans (P loans) are flexible and you can use it for various purposes, including vacations, weddings, or handling unexpected medical expenses among many other.

Debt Consolidation: Personal loans help you consolidate smaller debts like personal loans and credit card balances into a single, more manageable loan.

Property Purchase without Sale Deed: Some people buy or build properties without a sale deed because of unavailability of property registration in the area (GPA properties) or ceasing funding for a particular builder project by banks.

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Why Choose Joy Loan for P Loan?

No Software-Driven Aggregation

We’re not a computer program; we’re a team of loan experts who review your profile before applying for your personal loan. This not only increases your chances of approval but also ensures you get the best loan deal right away. Additionally, this helps you maintain a good credit score by reducing unnecessary credit inquiries for a single loan.

Personalized Offers Based on Customer Profile

Through individual analysis, we tailor the best offers based on your profile and employer. Employees of well-established corporate companies and government employees enjoy lower rates. We also guarantee the best rates for salaried employees in Category B, Category C, and non-listed companies.

Personal Loan EMI Calculator

Loan EMI Calculator


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Period Payment Interest Balance

Calculator Disclaimer

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. This calculation does not constitute a quote, loan approval, agreement or advice by Joy Loan. It does not take into account your personal or financial circumstances.

FAQs Personal Loans

Depending on your company category and income bracket, you may be eligible for a personal loan EMI of up to 72% of your net monthly income.

Furthermore, banks and NBFCs may also employ an income multiplier criteria for personal loan eligibility. So, depending on your income and company, you may qualify for an income multiplier ranging from 12 to 28 times your net monthly salary.

You can get a personal loan of up to 100 lakhs (1 crore) from a single bank. Depending on your repayment capacity, you may even be eligible for a higher loan amount through multiple funding options.

We accept loan applications for amounts starting from 5 lakhs.

For P Loan, we have partnered with leading banks and NBFCs across India, including:

  • HDFC Bank
  • Yes Bank
  • ICICI Bank
  • HSBC
  • Axis Bank
  • Kotak Mahindra Bank
  • Bajaj Finserv
  • Standard Chartered
  • RBL Bank
  • Tata Capital
  • Aditya Birla, to name a few.

We handpick a bank based on your profile and company listing. Rest assured, you will receive the lowest interest offer from the best bank for a personal loan.

Our services are available throughout India, including all metropolitan cities, as well as tier-2 and Tier-3 cities.

Simply send us your details to receive a personalized document checklist.

Bajaj Finance and Tata Capital offer personal loans as an overdraft for up to 8 years. During the initial 2-3 years, you pay only the interest on the used amount. After a 3-year moratorium period, the outstanding loan amount is repaid through 4 to 5 years of regular EMIs. Keep in mind that these overdrafts may have slightly higher interest rates and processing fees.

Say goodbye to high personal loan interest rates and hello to financial freedom with our help and get low-rate personal loans.

We specialize in connecting you with leading banks for personal loans with irresistibly low interest rates. For significant loans and government employees, the interest rates can be even lower than the standard rates.

Below are the lowest interest rates offered by leading banks and NBFCs.


Bank / NBFCPersonal Loan Lowest Interest Rates
HDFC Bank Personal Loan Lowest Interest Rate10.50%
ICICI Bank Personal Loan Lowest Interest Rate10.50%
HSBC Personal Loan Lowest Interest Rate10.50%
Axis Bank Personal Loan Lowest Interest Rate10.50%
Kotak Mahindra Bank Personal Loan Lowest Interest Rate10.50%
Standard Chartered Personal Loan Lowest Interest Rate10.65%
Yes Bank Personal Loan Lowest Interest Rate10.70%
IDBI Bank Personal Loan Lowest Interest Rate10.95%
IDFC Bank Personal Loan Lowest Interest Rate11.25%
Bajaj Finserv Personal Loan Lowest Interest Rate11.49%
RBL Bank Personal Loan Lowest Interest Rate11.50%
Aditya Birla Personal Loan Lowest Interest Rate11.90%
Tata Capital Personal Loan Lowest Interest Rate12.25%
DCB Bank Personal Loan Lowest Interest Rate12.50%

Some banks charge a fixed processing fee, like HDFC Bank at ₹5,999 and ICICI Bank at ₹7,999. Others calculate the fee as a percentage of the loan amount, which is deducted when you receive the loan.

For personal loans, we do not charge any fee from customers.

If your loan amount is over 15 lakhs, you can enjoy a special offer with a full processing fee refund, up to a maximum of ₹10,000.

You will receive cashback in your account after 7 days of disbursement

Simply send us your name to apply for a personal loan online. We will call you back to understand your profile and provide you with the lowest interest rate quote from the best bank for personal loan.

To apply for a personal loan from anywhere in India, you can easily upload simple documents online via email or WhatsApp. Follow our user-friendly online application process, submit your details, and start your journey to securing a personal loan. It's a convenient and efficient way to get your personal loan online.

The tenure for P Loans ranges from 36 to 84 months.

Personal loans come with a lock-in period of 6 to 12 months. However, for high-value loans, banks may offer the flexibility to close the loan at any time after disbursement.

After the lock-in period, banks may permit you to pre-close your loan with prepayment charges ranging from 2% to 5% of the remaining loan balance.

Many banks offer no foreclosure charges for big ticket personal loans. The minimum loan amount for such loans is 15 lakhs.

Personal loans rarely offer part payment options.

However, in high-value cases, a few banks provide part payment options at no additional fee. This option may be available for loan amounts above 15 lakhs.

Both private and government banks provide government employees with low-interest rates on personal loans. Banks offer special rates and fees for both central and state government employees.

Government teachers also receive preferential interest rates, among other eligible profiles.

Individuals serving in the army or defense forces can get personal loans from leading commercial banks. Along with standard documents, banks need a service certificate issued by their respective departments.

Private banks provide personal loans to army and defense personnel deployed in areas where verification agencies can do field verification. This includes locations such as Delhi NCR, other tier 2 and Tier 3 cities, and even rural regions.

For instance, a bank may grant a loan to a defense personnel stationed in Jammu but may decline it for those deployed in frontier locations in Kashmir because agency can no conduct field verification at that location.

Salaried NRIs (Non-resident Indians) can avail personal loans in India. The minimum income criteria for an NRI personal loan is $2,000 per month.

You must be in India during the application. The bank may also ask for a local guarantor in India.

Following are required documents' checklist for a personal loan in India:

Personal Documents

  • Passport size photo, PAN, and Aadhar
  • Passport, latest work Visa with Entry stamp in India, Work permit / PR

Income Documents

  • Salary Slip for 6 months
  • Appointment letter/ Work contract
  • 1 year salary account statement
  • 1 year NRE/NRO account statement

Documents for Co-applicant

  • Photo, Pan, Aadhar, Address proof

Merchant navy and seafarers can apply for personal loans up to 30 lakhs, but you must be in India during the application and provide a local guarantor.

Along with regular NRI documents, merchant navy personals require CDR (continuous discharge report) for the last 2 years.

Retired government employees with a minimum pension income of 50,000/- can get personal loans up to 10 lakhs, provided their age at the time of application is below 65 years.

Employees of private limited companies who have Form 16 and make provident fund deductions can secure a personal loan with a minimum salary of 40,000/-.

For employees of proprietorship and partnership companies, the minimum salary requirement is 60,000/-. In addition, you may be required to provide a CA-certified company's balance sheet from the previous year to verify genuine employment.

You can consolidate smaller personal loans and credit card balances into a single personal loan. Depending on your eligibility, you may also qualify for a top-up loan for personal use.

To be eligible for the transfer, all your existing loans and credit cards must have a history of regular payments.

P Loan disbursement takes 2 to 3 days depending TAT of banks / NBFC.

Personal Documents:

  • Photo
  • PAN
  • Aadhar
  • Address proof
  • Proof of permanent residence if rented residence
  • Company-ID / visiting card


Financial Documents: 

  • 3-month salary slip
  • 6-month bank statement
  • Last year's form 16

Banks disburse P Loans into your salary account after verifying your account details.

Repayments are made via monthly EMIs, which start after the loan disbursement. Repayments are facilitated through automatic debits from your salary account using the NACH/ECS facility.

With over 12 years of experience, Joy Loan has been a trusted partner for over a thousand satisfied customers like you. We understand your financial needs and provide tailored solutions to meet them. Our competitive interest rates, quick approval, and hassle-free application process make us the ideal choice for your personal loan.

We're committed to ensuring your financial well-being and offer a seamless, customer-centric experience. Join the ranks of our satisfied customers and let Joy Loan be your trusted partner on your personal loan journey.

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