Instant Personal Loans ₹10K to ₹1 Crore

With MoneyKarma, you can get instant pre-approval within 2 minutes of application. Once your documents are verified (which takes 30 minutes to 2 hours), the loan amount is disbursed within 24-48 hours. Some partner banks offer same-day disbursement for pre-approved customers. The entire process is 100% digital - no branch visits required.

You can get personal loans from ₹10,000 up to ₹40 lakhs depending on your income, credit score, and repayment capacity. Generally, banks approve loans up to 10-20 times your monthly income. For example, if you earn ₹50,000/month, you may be eligible for loans up to ₹5-10 lakhs. Use our eligibility calculator to check your exact loan amount.

Yes, you can get a personal loan even with a Credit score as low as 550 through some of our NBFC partners. However, a lower credit score means higher interest rates (18-24% p.a.) and lower loan amounts. We recommend improving your score to 750+ for the best rates (10.49-14% p.a.). MoneyKarma also provides free credit score improvement tips and tracking.

No, reputable lenders through MoneyKarma are completely transparent about all charges. Common fees include: Processing fee (0-4% of loan amount), GST on processing fee (18%), Late payment charges (₹500-2000), Prepayment charges (0-5% for part prepayment after 12 EMIs), and Loan cancellation charges (₹1000-3000). Always read the loan agreement carefully before signing.

Yes, you can prepay your personal loan, but terms vary by lender. Most banks allow: Full prepayment after 12 EMIs with 2-4% charges, Part prepayment (up to 25% annually) with 2-5% charges, and some banks like HDFC offer zero prepayment charges on floating rate loans. Always check prepayment terms before taking the loan as it can save you significant interest.

Missing an EMI payment has several consequences: Late payment fee of ₹500-2000 plus GST, negative impact on Credit score (can drop 50-100 points), higher interest charges on outstanding amount, and after 90 days, loan becomes NPA affecting future loan eligibility. If you're facing difficulties, contact your lender immediately for restructuring options. MoneyKarma can help negotiate better terms.