Key Features & Benefits
Digital Loan Processing
Digital Documentation
No Need for Collateral
Affordable Interest Rate & Flexible Tenure:
Factors Responsible for Small Loan Interest Rate
The interest rate for Rs. 3 lakh loan typically starts from 12.99*%pa, and the maximum repayment tenure is five years. The interest rate on Rs. 3 lakh personal loan depends on your income, employment type, work experience, and age.
Age:
You must be at least 21 years old to be eligible to apply for a personal loan. However, the maximum age at which a person can apply for a loan is 58 years. Usually, younger applicants can repay loans better than older applicants because of their higher repayment capacity. Consequently, a younger applicant is eligible for a lower interest rate than an older applicant.
Credit Score:
We prioritize individuals with a credit score of 700 or higher. Being seen as trustworthy increases the chances of getting a personal loan with low interest rates. Nonetheless, you can always improve your credit score to get the best ROI.
Employment Status:
Individuals employed in public sector enterprises and private sector firms are deemed suitable. People with stable income and job security get lower interest rates compared to others.
Work Experience:
To be eligible for a loan, you must have a regular income and have worked for at least two years. The greater your professional experience, the higher your ability to repay the loan, and the lower your interest rate.
Different Types of Personal Loans
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એફએક્યુ
Small personal loan is a unsecured personal loan taken for relatively shorter tenure and of small amount.
Yes, you can foreclose or prepay Small Personal Loan at Piramal Finance without any foreclosure charges.
You can opt for Small Personal Loan when you need quick and small funds to manage urgent expenses.
Yes, you can get the loan from our website or app with 100% digital documentation and smooth process.
You can make the payments for Small Personal Loan using E-Nach (National Automated Clearing House). It is the most convenient and secure method of making payments.
The EMI depends on various factors, such as tenure and interest rate. You can use our Personal Loan EMI calculator to calculate the exact EMI required for the loan. At Piramal Finance, small loan EMI starts at 12.99%*.
