• 1

    Loan Type

  • 2

    Contact Info

  • 3


  • 4


  • 5


  • 6


Contact Information

Professional Detail


  • Obligation- 1 Detail


Loan Requirement



  • Current Address

  • Permanent Address

  • *New Loan : Fresh Personal Loan
  • *Loan Transfer : Personal Loan Balance Tansfer

What is Personal Loan?

A personal loan is usually of a smaller amount than a mortgage and used for personal purposes, instead of commercial/business needs. It includes loans for reasons like going on vacation, wedding, buying of new furniture and various other needs that arise for an individual.

Characteristic of Personal Loan

  • Personal loans are usually “Unsecured Loans”, which means they are offered without any collateral in return. Such loans are mainly based on the credit history of the customer who hasn’t defaulted on his/her credit card payments.
  • The interest rates of Personal Loan are allotted based on the salary of the customer, amount being borrowed and credit history, amongst others
  • A short-tenure loan, the repayment period are usually of the time period of 1-5 years
  • Requires the least bit of paper-work and is usually approved within 48 hours of application submission
  • Additional to the processing fee, charges for late payment penalty, pre-payment fee, administration charges and cheque bounce charges are also included in the personal loan
How we can help?

As one of the leading loan & finance based comparison portals in the country, RuLoans provides you with an unbiased platform to analyze and decide upon the available deals in the market.

How do we help you borrow right?
  • We offer a customized loan consulting experience to each customer
  • Our experienced loan consultants help you to understand which is the right loan for you
  • We make sure that your documents are in order
  • We make the process smooth, efficient and easy
  • We take care of any issues on the way
Why RuLoans
  • Apply online and get best offers & deals on from our partners banks & NBFCs.
  • Compare personal loan offers and services.
  • Apply with the best bank or NBFC.
  • Lowest Rate of Interest in offering.
  • Hassle free process and easy documentation.
  • Free Document Pickup by RuLoans Team.
  • Free expert guidance & advice from our dedicated team of experts.
  • We are not an agent of any bank and you can apply with the bank of your choice.
  • No Fees for services provided.
  • We are here to help & assit you .We understand that it’s an important decision for you as you are in immediate need of money; and trust us we will ensure quick processing and disbursal of loan.
Point To Be Considered Before Taking A Personal Loan:
  • Share all the accurate information at time of filling up of application form. Bank will process your loan based the information you provide
  • Processing fees are deducted from Loan amount and thus do not pay any fees in cash/cheque to anyone to process your loan sanctioning
  • Compare Loan offers & deals but handover document to any one of the bank of your choice
Eligibility Criteria of Personal Loan
  • Any Indian citizen in good standing who is salaried, self-employed or business person with regular source of income can apply for a personal loan.
  • The applicant should be above the age of 24 years
  • Should be currently employed with existing organization or been involved in your business for a specific number of years.
  • Professional stability and savings history play a major role in approval of the loan, especially minimum required monthly salary and repaying capacity
  • Bad credit history would prove to be a put-off, especially anytime within 3 months prior to applying for personal loan.
How is the maximum EMI decided?

For salaried individuals it does not exceed 30-40% of take home salary and for self employed individuals is based on the profit earned.

What is the difference between reducing and flat interest rate?

Reducing Balance Interest Rate needs the borrower to pay interest only on the remaining loan balance.

Flat Interest Rate is where the borrower needs to pay interest on the entire loan balance throughout the loan term.

How is my Personal Loan approved?

Approval of loan is the sole discretion of the bank and takes any duration between 48 hrs to upto a week. It is always recommended to keep all documents ready while applying to avoid any unforeseen delays.

How does my credit history matter?

CIBIL (The Credit Bureau of India Limited) is the Credit Information Company. CIBIL collects and maintains records of an individual‘s payments pertaining to loans and credit cards. These records are submitted to CIBIL by banks and other lenders, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and credit scores which are provided to lenders in order to help evaluate and approve loan applications. Before approving your loan, the lender cross checks your repayment track record. A good CIBIL score help you fetch higher loan amount at lower interest rate.

Is there any extra charge payable when applying for personal loan?

Processing fees and Prepayment fees are charged extra and amount to anywhere between 2-3% of the loan amount.

Can I pay my Personal Loan along with my spouse?

Yes, personal loan can be applied together with a co-applicant who can be either your spouse or your parents. This way you can show a higher income and avail for a larger amount as the total loan is calculated on the sum total of the two incomes.

What is relationship discount?

Relationship discount is an added benefit provided by the bank if you have been involved with them for quite some time and have availed other loans from them.

It is solely upto the discretion of the bank.

How to repay the Personal Loan?

Personal Loans are repaid in the form of EMI (Equated Monthly Installments)

How is loan against credit card different from personal loan?

In case of loan against credit card the interest being charged is entirely dependent on the amount consumed using the card. Whereas, in a personal loan, the entire loan is drawn out as lump sum and repaid via fixed monthly installments to the lender.

User Review


New Personal Loan Rated as "Great!"
by 1 Users

  • It's superb bank

    Review by niga

    5 / 5 “Great!"