Unsecured, for salaried & self-employed
Personal loans, compared for your income profile
A personal loan needs no collateral and can be used for almost anything — a wedding, medical costs, education, travel or consolidating expensive credit card debt. Because the lender has no security, the rate depends almost entirely on your income, employer and credit history.
That is exactly where comparison helps. Two lenders can quote the same salaried applicant rates several percentage points apart. RateWise matches your profile to the lenders most likely to price it well and applies selectively to protect your credit score.
- Indicative rate from
- 10.49%
- Typical amount
- ₹50 K – ₹50 L
- Tenure
- Up to 7 years
Rates are indicative and depend on your profile, lender policy and benchmark rates. Final terms are set by the lender.
Who this loan is for
- Salaried employees with a steady monthly income
- Self-employed professionals such as doctors and CAs
- Borrowers consolidating high-interest credit card or app-based loans
Eligibility
- Age 21–60, Indian resident
- Net monthly income typically from ₹25,000
- At least 6 months in the current job (1 year of total experience helps)
- CIBIL score of 720+ for the best pricing
Documents commonly required
- PAN and Aadhaar
- Last 3 months salary slips
- 6 months salary account statement
- Employment proof or offer letter
What affects your interest rate
- Credit score and any recent missed payments
- Employer category — lenders price listed companies and government employees more finely
- Monthly income and existing EMIs
- Whether you already bank with the lender
How RateWise compares lenders
We compare the annual percentage rate including processing fee and insurance, not only the headline rate.
We check foreclosure and part-prepayment terms, which vary widely on personal loans.
We apply to one or two well-matched lenders instead of many, limiting hard enquiries.
How the application works
01
Share your profile
A short call or WhatsApp chat about income, existing EMIs and what you need. No documents at this stage.
02
Shortlist lenders
We match your profile to the lenders whose policy fits and apply only where approval is realistic.
03
Compare offers
Sanctions are compared on rate, processing fee, insurance, prepayment terms and tenure — not rate alone.
04
Documentation and disbursal
We help complete the lender's documentation and follow up until the money is disbursed.
Common mistakes to avoid
- Applying on multiple apps and websites at once
- Ignoring foreclosure charges if you plan to repay early
- Choosing the longest tenure without checking total interest
Estimate your EMI
₹30,00,000
8.50%
20 years
Monthly EMI
₹26,035
- Principal
- ₹30,00,000
- Total interest
- ₹32,48,327
- Total payable
- ₹62,48,327
Use this calculator to estimate your EMI. Actual EMI depends on the final sanctioned amount, interest rate and tenure offered by the lender.
Want to know what rate you may qualify for?
Check My RatePersonal Loan FAQs
How fast can a personal loan be disbursed?
For a salaried applicant with complete documents, many lenders disburse within 1–3 working days of approval.
Can I get a personal loan if I am self-employed?
Yes, several lenders offer personal loans to self-employed professionals based on ITR and banking. Pricing is usually a little higher than for salaried applicants.
Does checking my eligibility affect my credit score?
An initial discussion with us does not. A formal application creates a hard enquiry, which is why we apply only where approval is likely.