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Get a Personal Loan Instantly for Your Needs

Obtain an instant personal loan or unsecured loan to meet your needs without any collateral or security. These loans are designed to help eligible borrowers with an instant online disbursement of the required loan amount with competitive interest rates and flexible repayment tenure.
Whether you are facing a medical emergency, planning a dream wedding or vacation plan, revamping your house or making a big purchase, take advantage of our Instant Personal loan facility to meet any of your personal needs given that you meet the eligibility criteria. While an instant personal loan helps meet your urgent financial requirements, it also lets you build or boost your credit score.

Get Personal Loan in a Couple of Hours

APPLY NOW
Step 1

To begin with, click on “Apply Now” to be able to access our online application form.

Step 2

Enter the necessary documents as well as details to apply for an instant personal loan.

Step 3

Now, click on “Submit Now” to submit your application.

After the successful document verification and loan application approval, the loan amount will be credited into your bank account. Ensure that the information you entered is correct.

6 Steps to Personal Loan Application Process

NextBigLoan offers a few easy steps to process a personal loan application

1. Identify the Eligibility Criteria

Make sure you learn about and understand the eligibility criteria that must be fulfilled to be able to apply for a personal loan.

2. Documents Required

Ensure you check what employment documents, proofs, and other crucial documents are required at the time of applying for a personal loan. These documents will help prove your identity, income, address, etc.

3. Interest Rates, Fees, and Other Charges

With no foreclosure charges, we charge 2% of the loan amount as a processing fee. Also, we charge Rs.1,000 in case the cheque gets bounced.

4. EMI Calculation

Calculate your EMI you need to pay every month on the loan by using an EMI calculator.

5. Submit the Application Form Online

Click on “Apply Now” after visiting the personal loan application webpage. Now, fill in all the required details correctly and get the necessary documents scanned. Finally, submit your application form online.

6. Wait for Your Loan Approval

Submitted your vital documents? They are then verified for validation. It’s only after successful verification that the amount is disbursed.

Some Useful Features and Benefits of a Personal Loan

A personal loan is a convenient and go-to financing option to enhance your CIBIL score. This loan makes it easier for you to achieve your travel goal, make your long-awaited purchase, plan an adventure trip, and more.
At NextBigLoan, we value our customers by serving them with personal loans with the lowest rates of interest, flexible repayment terms, easy-to-follow criteria, and other exciting features. Now, let’s dig into some of the best features and benefits of a Short-Term Personal loan, which are becoming the topmost choice for people looking to utilize an instant loan facility.

 Annual Percentage Rate 15-31%
 Application Process Application Process Apply for a loan hassle-free if you meet the eligibility criteria.
 Repayment Tenure 90 days to 12 months.
 Min. to Max. Loan Amount Rs. 5,000 to Rs. 1 Lakh.
 Approval and Disbursal Quick disbursal in no time and instant disbursal after verification.
 Prepayment Charges No charges to repay a part of the loan in advance.
 Loan Processing Charges 2% of the loan amount.
 Collateral or Guarantor No need for security, collateral, or guarantor.
 Minimal Paperwork The documentation process consists of bank account statements, KYC documents, and proof of employment.
 Availability We are available around the clock with our loan application process.
 Fund Usage We clearly state associated fees and charges on the loan documents and don’t demand hidden charges.

P.S. It's recommended that you carefully read and understand all the crucial information in detail before you apply for a personal loan.

Personal Loan Calculator

Eligibility Criteria to Apply for a Personal Loan

Ensure the below-mentioned criteria before you qualify for an Instant Personal Loan .

Factors Eligibility Criteria
Age The borrower must be at least 21 years of age and below 60 years when applying for a loan at the time of maturity.
Nationality The nationality of the borrower must be Indian.
Employment The borrower applying for a personal loan must be a salaried person at an MNC, private, or public company.
Monthly Salary No less than Rs. 40,000, depending on the city the applicant is living in.
CIBIL Score Must be 700 or higher.
Work Experience No less than 2 years of work experience and a minimum of 1 year with the current firm.
Debt-to-Income Ratio Below 40% of net monthly income.
Documents Required Aadhaar card, PAN card, driver’s license, voter ID, school leaving certificate, birth certificate, passport, last 3 month’s salary slips, last 6 month’s bank statements, banker’s verification, and 1-year employment proof.
Apply for Personal Loan

Frequently Asked Questions

  • 1. What is a Personal Loan?

    A personal loan is a loan borrowed to pay for a variety of expenses without requiring collateral/security. The borrowed loan amount needs to be repaid over time with a specified interest rate in terms of installments or regular payments.

  • 2. How to Apply for a Personal Loan?

    Go to our official website and access the personal loan webpage. Click “Apply Now” and enter all the essential information. Click on the “Submit Now” button to submit all the mandatory documents. We will then verify your documents and provide instant approval after validation. After approval, the loan amount is credited to a linked bank account.

  • 3. What are the Benefits of a Personal Loan?

    A personal loan is becoming a popular choice among people for providing a sufficient loan without any collateral or security. You can get a reasonable loan amount with a competitive interest rate, flexible repayment terms, no foreclosure charges, instant approval and quick disbursal, easier application process, all-time availability, no restrictions on fund usage, and minimal paperwork.

  • 4. How Much CIBIL or Credit Score is Required for a Personal Loan?

    A CIBIL score above 700 is considered ideal for securing a personal loan. Anything lower than this number might decrease the possibility of getting a loan.

  • 5. How Much is the Maximum Loan I Can Borrow?

    An applicant can get a loan of Rs. 5,000 to Rs. 1 lakh based on different factors of eligibility criteria.