A personal loan is an amount of money you can borrow to use for a variety of purposes. For instance, you may use a personal loan to consolidate debt, pay for home renovations, or plan a dream wedding. Personal loans can be offered by banks, credit unions, or online lenders. The money you borrow must be repaid over time, typically with interest. Some lenders may also charge fees for personal loans.

1. Debt Consolidation.
2. Home Remodelling.
3. Emergency Expenses.
4. Appliance Purchases.
5. Wedding Expenses.
6. Vacation Costs.
7. Higher Education.
8. Medical Emergencies.

Salaried individuals: Should be working in a company with a net take-home salary of 20,000/- per month getting credited in the salary account.

Self Employed: Should have the document for business establishments and Min 2 years IT Return.

The common documents required for online personal loan approval are given below:

For Salaried Individuals

1. KYC: Passport, Voter Identity Card, Driving License, Aadhaar Card.
2. Address Proof (Current): Including KYC, Bank Account Statement, Rental Agreement, Telephone Bill.
3. Bank Statements: Latest 3 to 6 months.
4. Salary Slip: Latest 3 Months.

For Self-Employed Individuals

1. KYC: Passport, Voter Identity Card, Driving License, Aadhaar Card.
2. Address Proof(Current): Including KYC, Bank Account Statement, Electricity Bill, Telephone Bill.
3. Proof Of Business: Business Registration Certificate
4. Bank statements: Latest 6 months
5. Income Proof:  Income Tax Returns of the last 2 years.