IndiaLends Instant Personal Loan: Interest Rates, Eligibility, How to Apply

IndiaLends was created with one objective to provide equal financial access to all. IndiaLends has already helped millions of people get financial products. These many banks work with NBFCs on your behalf to help you find out the lowest interest rates.

Personalized Offers: One can avail customized loans up to ₹50 lakh at interest rates starting from 10.75% for tenures ranging from 1 year to 5 years.

Lowest Interest Rate: You can get an attractive interest rate of less than 10.75% on your personal loan.

Fast Delivery: Instantly, with minimum documentation, money gets credited to your bank account within 24 hours.

Pre-qualified offers: Answer a few questions to see what type of loan or card you are eligible for. It will not affect your credit score.

Loan Limit: Starts from Rs 15000 for first time borrowers and goes up to 2 lakhs.

Benefits and Features of IndiaLends Personal Loan

No guarantor required

One of the advantages associated with an online personal loan is that it is unsecured in nature. This means that you do not need to have any guarantor for your loan. If you meet the eligibility criteria for availing the loan then you can easily get a low interest personal loan.

Minimal documentation

In this era of digital world, the process of documenting and verifying it becomes faster. This is applicable for availing instant personal loans as they process faster and require minimum documents for approval. The loan is credited to your bank account instantly.

Easy and quick approval

You can take personal loans from here which get quick and easy approval. This is the reason why it is the best option in times of need of money. Furthermore, the process has gone digital; Thus the time taken in the verification process is also reduced.

Multipurpose nature

Personal loans can be used for anything other than illegal activities. Moreover, it is of multi-purpose nature and can be used for any personal expenditure. Other forms of credit when taken are for a specific purpose and can only be used for that. Let us understand as an example, like home loan is used to buy a new or old house whereas car or bike loan is taken for buying a car or bike. However, a personal loan can be taken to meet any immediate requirement.

Eligibility Criteria for IndiaLends Personal Loan

Personal loans are provided by most of the banks/NBFCs. However, there are certain criteria that are the same for all financial institutions. Following are the eligibility criteria to get online personal loan approval for salaried and self-employed individuals:-

Age 18/21 Years to 60/65 Years
Type of employment
  1. salaried
  2. self employed professional
Credit score 750 or above with good credit score
Minimum monthly income
  • Rs 15,000 (Non-Metro City)
  • Rs.20,000 (Metro City)
Loan amount Up to Rs 50 lakh depending on credit score
Work experience salaried
  • Working in the present company for at least 6/12 months

Self employed

  • Business tenure of at least 3 years (continuous)
  • ITR of last 3 years

Documents Required for IndiaLends Personal Loan

Below are the common documents required for online personal loan approval:

for salaried persons

  1. Identity and age certificate
  2. Completely filled personal loan application with photograph
  3. Pan card
  4. Address Proof – Passport, Driving License, Voter ID, Postpaid / Landline Bill, Utility Bill (Electricity / Water / Gas)
  5. Bank statement of last 3 months
  6. Salary slip of last 3 months
  7. Form 16 or Income Tax Return of last 3 years

For Self Employed Individuals

  1. Identity and age proof
  2. Completely filled personal loan application with photo
  3. Pan card
  4. Residence Proof – Passport Driving License, Voter ID, Postpaid / Landline Bill, Utility Bill (Electricity / Water / Gas)
  5. Bank statement of last 3 months
  6. Salary slip of last 3 months
  7. Income Tax Return with computation of income for last 3 years
  8. CA Certified Balance Sheet and Profit/Loss Account for the last 3 years

IndiaLends Personal Loan Types

Various types of online personal loans are given here which are as follows:-

Personal loan for home improvement

Instant personal loan for home repairs can help you accomplish them. Taking a personal loan from IndiaLends can be a good option for home renovation.

Personal loan for marriage

In India, a typical wedding costs an average of Rs 25 lakh. Draining all your savings for all wedding expenses is not an ideal option. This is where you apply for a personal loan online and cover the expenses. Now, planning a wedding has become easier.

Personal loan for travel

Apart from home renovation or marriage, you can get a personal loan to cover your travel expenses. Since it is a convenient and economical option, it can be an open option. Plus, it can alternate your uses with your credit card and help you save on interest costs.

Top up personal loan

Top up personal loan is a facility provided by financial institutions to customers that allows you to borrow a fixed amount against your personal loan. The interest rate of a top up loan is slightly higher than that of a regular personal loan.

Personal loan balance transfer

Did you know that you can save thousands on your interest cost on a personal loan? Well, this is what Balance Transfer can help you with. You can pay off your existing loan with a new loan at a lower interest rate. Please note that there is a charge associated with personal loan balance transfer.

IndiaLends Personal Loan Interest Rate

Rate of interest 10.75% to 25%
Processing fee Generally between 1 to 4% of the loan amount
Loan tenure 12 months to 60 months
Loan amount 15000 to 50 lakhs
Lock-in period Varies from lender to lender
Preclosure charges Generally between 2% to 5% of the outstanding loan
Guarantor required on the basis of credit profile

How to Apply for Personal Loan on IndiaLends?

There are three simple steps involved in applying for a personal loan:

STEP-1 : FILL THE ELIGIBILITY FORM

In the first step, the customer has to fill the eligibility form which includes filling the following details:

  • Full Name (As per PAN Card)
  • E mail ID
  • Present Residence Pincode
  • Type of employment
  • Current company name
  • Monthly Salary Details
  • Mobile number

Step-2 : Choose from the Offers

You will be given a list of lenders based on the information provided by you in Step-1. The offer can be one or more depending on your profile. From the list, select the lender you want to go ahead with. Please remember to keep the following points in mind while choosing a lender:

  • Rate of interest
  • Loan amount
  • Loan tenure
  • EMI

Step – 3 : Apply for the loan

This is the expanded version of Step-1 where you will have to provide more details about your application. This is where you give detailed information about your personal details and bank details.

Once you have submitted your application, our representative will contact you to cross verify the details before sending the application to the respective lender.

How can I get a personal loan from IndiaLends?

To get a personal loan, you need to fulfill the following eligibility requirements:

  • Age between 18/21 and 60/65 years of age
  • Must be salaried or self-employed
  • Must have a credit score of 750+
  • The minimum monthly income should be Rs 15000 for non-metro cities and Rs 20,000 for metro cities.
  • Must have been employed in the current organization for a minimum of 6/12 months or a business tenure of at least 3 years.

How to contact IndiaLends?

IndiaLends provides 24*7 services to all its customers. You can easily send mail to support@indialends.com for any complaints or feedback.

In this post the complete details of IndiaLends personal loan have been given. What is the interest rate of IndiaLends personal loan? What are the documents required for IndiaLends personal loan? What is the eligibility for IndiaLends personal loan? How to apply for IndiaLends personal loan? What is the customer number of IndiaLends personal loan? Everything is explained in detail.

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