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Personal Loan
Welcome to World of
Financial Happiness

No Collateral Required
We don't require you to
submit your property papers
or anything as a collateral

Easy EMIs
Easy EMI
options.

Instant Approval
Approval for your
sanctioned limit
happens instantly.
Instant Personal Loan Online in India
With the continuous advancement in technology, getting an instant personal loan in India has now become even more convenient and hassle-free. The process is quick and requires only minimal documentation. As the count of fintech companies rises in India, individuals can now easily apply for an individual loan from the comfort of their homes. Online loan platforms provide a wide range of options for their customers, from competitive interest rates to flexible tenure.
Welcome to the World of Financial Happiness
With PayMe, customers can apply for an instant personal loan in a swift and convenient manner. We understand the urgency of access to funds as it can be for any purpose, and we aim to disburse the loan amounts mostly within 24 to 48 hours post-approval. With our user-friendly application, users can enjoy a streamlined application process with zero hassle. Whether it is for debt repayment, education purposes, home renovation, or any other personal expense, PayMe’s Instant Personal Loan service in India is a reliable and quick solution.
What is a Personal Loan?
A personal loan is a financial product that allows people to borrow a fixed amount from a lender, usually without any collateral. These loans provide flexibility and can be used for many purposes like financing home renovations, covering unexpected finances, and consolidating debts.
Personal loans work by providing borrowers with a fixed amount of money which they repay in the form of monthly instalments over a set tenure. Borrowers’ creditworthiness and financial history determine the term of the loan, including the rate of interest and loan tenure. It helps in financial planning because of a predefined repayment schedule.
Types of Personal Loans Available
Secured vs Unsecured loans
- Secured loans: You are required to provide collateral like a car, house or your savings which the lender can take if the borrower fails to repay. These loans offer lower interest rates.
- Unsecured loans: You are not required to provide collateral. Approval of the loan is completely based on the borrower’s creditworthiness and usually offers high interest rates.
Fixed-rate vs Variable-rate loans
- Fixed-rate loans: These loans offer interest rates that remain constant throughout the loan tenure.
- Variable-rate loans: These loans offer interest rates that fluctuate according to the market conditions, leading to changes in monthly instalments.
Benefits and Features of a Personal Loan
A personal loan offers quick disbursal, fixed interest rates, and an easy application process. This finance loan can be used for multiple purposes, with careful comparison and assessment.

Instant Approval Process
At PayMe, we aim to provide you with a hassle-free lending experience. Once your loan is approved, the amount will be deposited in your account.

Minimum documentation
To ensure a seamless experience for all applicants, we have a minimal documentation process to save their time and effort.

No Restriction on fund usage
With PayMe, you have your complete take in deciding where and how to use the funds from the personal loan. Whether it's for covering wedding expenses, purchasing luxury items, or going on a vacation, there are absolutely no restrictions on how you spend your money.

Flexible tenure
With us, you get the freedom to select the duration of your loan repayment, which allows you to apply for a loan ranging from 3 to 24 months.

Best of Online services
We provide an incredibly smooth and hassle-free personal loan application process. It only takes steps like providing your identity, selecting the required loan amount and repayment tenure.

Lowest-Interest Rates
We offer flexible loan options with low-interest rates to meet the varying requirements of our customers.

Transparent Terms and Conditions
We aim to provide our customers with a safe and secure platform, ensuring that they read & understand the loan agreement and agreement terms before committing to the loan.

No Collateral Required
We provide unsecured personal loans, which means that the user does not need to provide any of its assets as security. This saves them from giving away their valuable assets.

Dedicated Customer Support
Our dedicated customer support team is ready to assist you with any doubts or queries that may occur to you throughout the loan process.
PayMe Personal Loan Features
A personal loan offers quick disbursal, fixed interest rates, and an easy application process. This finance loan can be used for multiple purposes, with careful comparison and assessment.

Loan Amounts and Interest Rates:
- Can get a loan for an amount ranging from ₹500 to ₹5 lakhs.
- Interest rates start from 1.5% per month.

Flexible Repayment Tenure:
- Have the option for loan tenure from 3 to 24 months.
- Can customise your repayment schedule according to your financial needs.

Quick Disbursal:
- Funds are credited to your account 24-48 hours after approval.

Easy Application Process:
- Simple online application process.
- Minimal document requirement.

No Collateral Needed:
- Get a loan without any need to provide collateral

Transparent Terms and Conditions:
- Clear terms and conditions in the loan agreement.
- No additional fees or charges.

Dedicated Customer Support:
- Active customer support will solve your queries and provide guidance.
Example Loan Calculation
Personal Loan Example | Details |
---|---|
Personal Loans Ranging From | INR 500 to INR 5 Lakhs |
Rate of Interest | Starting from 1.5% per month |
Tenure | 3 to 24 MONTHS |
Documents Required | PAN, Aadhar, and bank statement |
Processing Fee | 2 - 10 % |
*Note that the annual interest rates and the processing fee will vary depending on the customer and their selected tenure.
Benefits of PayMe Personal Loans
Choosing an online Personal Loan in Delhi through a trusted NBFC (Non-Banking Financial Company) like PayMe represents a wise decision. By selecting the right financier in Delhi for your personal loan needs, you can enjoy several benefits, like:

No Collateral Needed:
Offer ease and convenience without requiring any collateral.

Quick Disbursal:
Ensures quick financial support by providing fast access to funds.

Attractive Rates of Interest
Interest rates are provided to suit your financial needs.

Easy Application Process:
Simple steps to make the application experience smooth.

Hassle-Free Repayment:
Multiple repayment options to choose from, to make loans convenient.
How To Avail an Online Personal Loan
Availing an instant personal loan is pretty simple. Here's a step-wise procedure of what you need to do to apply for an online personal loan.
Step-by-Step Application Guide
1. Register Online:
Go to the top of the page and click "Apply Now" button or download the PayMe app on your mobile phone. Enter your mobile number to register yourself.2. Complete KYC:
Upload the required document and get done with your KYC process.3. Provide Income Proof:
Provide a document as income proof (bank statement, salary slip, or an ITR depending on your employment type)4. Select Loan Details:
Choose your required loan amount and tenure according to your financial needs.5. Approval and Disbursal:
Once your loan request is approved, wait for at least 24 hours for the amount to be credited to your bank account.Documents Required to Apply for a Personal Loan
At PayMe, we aim to make the borrowing process as smooth as possible. We do not require heavy paperwork, just a few documents to prove your authenticity. Here are the documents that are needed while availing of a loan.
Accepted Documents | Salaried Employees | Self-Employed |
---|---|---|
Identity Proof | • Passport • Voter's ID • Driving License or PAN Card | • Passport • Voter's ID • Driving License or PAN Card |
Residential Proof | • Passport • Utility Bills | • Passport • Utility Bills |
Total Repayment | Bank records reflecting salary deposits over the past three months | Financial statements that have undergone an audit for the past two years |
Personal loan Eligibility Criteria
Lenders review multiple aspects when they consider a borrower’s loan application. If the borrower meets the requirements, they can apply for a personal loan.
Criteria | Salaried Employees | Self-Employed |
---|---|---|
Age | 21 years to 58 years | 22 years to 55 years |
Net Monthly Income | ₹15,000 | ₹25,000 |
CIBIL Score | Above 650 | Above 650 |
Minimum Loan Amount | ₹500 | ₹500 |
Maximum Loan Amount | ₹5 lakhs | ₹5 lakhs |
Instant Personal Loan interest rates
Interest rates on personal loans vary based on your credit history, loan amount, lender, and the type of loan availed. These loans come with competitive interest rates, starting from 1.5% per month. By carefully selecting your lender and assessing your eligibility, you can ensure that your financial needs are met with the lowest interest rates possible.
Personal Loan Fees and Charges
While considering personal loans from different lenders, it is essential to know the fees and charges. The fees and charges are a portion of the loan amount that the borrower has to pay to the lender at the time of taking a loan. These fees may include:
- Verification fees
- GST charges
- Penalties
- Pre-payment charges
- Processing fees: Typically range from 2% to 10% of the loan amount.
- Documentation fees
These fees vary from lender to lender, so it is advisable to check the fees charged by top lenders in India before taking a loan.
Personal Loan EMI Calculator
Calculating your EMI is important before taking a personal loan for effective management of your loan. The PayMe personal loan EMI calculator is there to make this process easier for you. It allows you to calculate monthly payments and compare the lenders according to the cost to get the best deal.
Benefits of Using EMI Calculator:
1. Plan your repayment:
The EMI calculator provides you with an overview of your monthly repayment obligations which will help you to manage your expenses efficiently.2. Understand interest payable:
By calculating your EMI, you will get to know the total interest you will have to pay over the loan tenure. This will help you to assess the overall cost of borrowing.3. Compare loan options:
By using this tool you can calculate the EMI and cost for the loans offered by different lenders. This helps you to select the best offer according to your financial needs.How to use Personal Loan EMI Calculator
- Enter the loan amount you want to borrow.
- Enter the offered interest rate.
- Select the repayment tenure that best suits you.
- View your monthly EMI, total interest and the total repayment amount instantly.
Types of Personal Loans Offered at PayMe
At PayMe, we understand that each individual has their own financial needs. We offer three personalised loan options tailored to your specific needs.
1. PayMe Cruise (Long-Term Loan):
This is a long-term personal loan option. PayMe Cruise is a convenient, long-term and easy EMI loan solution for our customers. This loan can be availed by customers who require a loan for a tenure of up to 36 months.2. PayMe Jiff (Short-Term Loan):
PayMe Jiff is a convenient solution for short-term financial needs. This is a one-time, single-payment loan option that is mostly used in the time of emergencies. This loan requires minimum KYC and can be availed easily without any collaterals.3. Empowerment Loan (Personal Loan for Women):
To empower women with financial independence, PayMe has brought up a remarkable opportunity – a Personal Loan for women. This loan offers the best interest rates and is available to working women in private and government sectors and self-employed women entrepreneurs.Different Types of Personal Loans Available in India
Even though a personal loan can be used for any purpose, some specific lenders give specified and personalized loans to their borrowers. These loans are given based on the purpose which the borrower mentioned in the loan application. Multiple loan options are available for people in India, which they can go for according to their needs.
Types | Definition |
---|---|
Wedding Loan | These loans are taken majorly to meet the expenses of a wedding. |
Home Renovation Loan | This loan allows you to pay for your house renovations or repairs |
Vacation Loan | This loan is to take the stress out of your vacation with easy EMI options to pay back. |
Pensioner Loan | As the name suggests, this loan is given to pensioners. |
Festival Loan | This loan is specially designed for the festive seasons as expenses usually rise during that time, so lenders offer these festival loans to make arrangements for such expenses. |
Medical Emergency Loan | This loan is taken out in times of medical emergencies. |
Debt Consolidation Loan | This loan type is ideal for individuals looking to streamline multiple debts into a single payment. |
Loan for Higher Education | Tailored for students and professionals seeking to further their education to cover their expenses like tuition fees, accommodation, etc. |
Small Cash Loan | These loans provide quick access to funds for unexpected expenses like medical emergencies, home repairs, or sudden travel. |
Used Card Loan (second-hand car Loan) | These loans cover the purchase of pre-owned cars, offering attractive interest rates and repayment terms that make owning a car more accessible. |