Personal Loan Solutions
A personal loan is an unsecured loan, which means you don't need to provide any collateral (like your house or car) to get one. It's a versatile financial tool that you can use for almost any personal expense.
These loans are typically paid back in fixed monthly installments (EMIs) over a set period (loan tenure), which can range from one to five years or more. Because they are unsecured, lenders rely heavily on your creditworthiness and income to approve the loan.
Unlock Your Dreams and Tame Surprises with a Handloan.ai Personal Loan
Life is a beautiful mix of planned dreams and unexpected turns. At Handloan.ai, we believe that finances should never be the reason you pause your aspirations or struggle with a surprise. A personal loan from us is more than just credit—it's your financial partner for every chapter of your life.
When Life Throws a Curveball, We've Got Your Back
Unexpected expenses don't have to derail your financial stability. A Handloan.ai personal loan provides a quick and reliable safety net for:
- Medical Emergencies: Focus on recovery, not on mounting bills.
- Urgent Home Repairs: Fix a leaky roof or a broken appliance without stress.
- Sudden Car Breakdowns: Get back on the road and on with your life.
Your Dreams Deserve a "Yes." We Help Make It Happen.
Why wait for the perfect moment when you can create it? Use a Handloan.ai personal loan to fund the milestones that matter most:
- Transform Your House into a Dream Home: From a kitchen upgrade to a full renovation.
- Finance Your Perfect Wedding: Have the day you've always remembered without the financial burden.
- Invest in Education: Secure a brighter future for yourself or your children.
- Finally Take That Dream Vacation: Create memories that last a lifetime.
- Consolidate Debt: Simplify your finances and take control of your payments.
Personal Loan Eligibility Criteria
While the exact requirements can vary from one lender to another, most financial institutions look at a common set of factors to determine your eligibility.
Credit Score (CIBIL Score)
This is one of the most critical factors. A high credit score (generally 750 or above) indicates you are a responsible borrower and increases your chances of approval and getting a lower interest rate.
Source of Income
Lenders need to see that you have a stable and sufficient income to repay the loan. They typically categorize applicants as salaried individuals or self-employed professionals/business owners.
Minimum Monthly Income
Most lenders have a minimum income requirement, which can differ based on your location (metro vs. non-metro city) and employer. A common minimum might be ₹20,000 - ₹25,000 per month.
Age
Applicants are typically required to be within a specific age bracket, such as 21 to 60 years. The goal is to ensure you are of legal age to enter a contract and will likely complete the loan payments before retirement.
Employment Stability
Lenders prefer applicants with a stable employment history. They may require you to have been with your current employer for at least 6 months to 1 year, and have a total work experience of 2-3 years.
Debt-to-Income Ratio (DTI)
This ratio compares your total monthly debt payments (including existing EMIs, credit card bills) to your gross monthly income. Lenders prefer a low DTI (ideally under 40-50%) as it suggests you can comfortably manage a new loan payment.
Why Choose Handloan.ai?
Competitive Interest Rates
Get a loan that's easy on your pocket.
Flexible Repayment Terms
Choose a plan that fits your budget comfortably.
Quick & Digital Process
From application to disbursement, it's all seamless and secure.
Transparent & Secure
No hidden charges, no unpleasant surprises.
Ready to Turn Your Plans into Reality?
Don't let a temporary cash flow situation hold you back. A Handloan.ai personal loan is the simple, smart tool to bridge the gap between your plans and your budget.
