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My Shubh Life Personal Loan

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Product Rating

4.4 /5

Total - 413 ratings

5
255
4
113
3
23
2
16
1
6

Mode of Process

Online 

Location 

PAN India

Lending Size and Tenure 

5k-2L (3M to 24 M)

ROI

28%-44%

ROI (Fixed/Reducing)

Reducing

Processing Fees

3%

Foreclosure

As per Policies

Partial Payment Allowance

No

Dealing in Unsecured OD

No

USP

Funding to All Profile whether Employee of Proprietorship firm/Partnership firm or Company

MyShubhLife has further strengthened its financial inclusion goal through its financial wellness program, for corporates and individuals. We have now expanded our portfolio to include mini and micro loans, insurance, Bill Payments, mutual fund SIPS, E-Gold, and E Tax filing services. Now customers can approach My Shuch Life for all their financial needs to secure their financial future. One of their strong verticals is their personal loan. They offer personal loans at low-interest rates along with a smooth process. If you're looking to secure your financial future with a personal loan, then look no further than MyShubhLife for your financial needs. They offer everything from insurance and mutual funds to personal loans. One of their strong verticals is their personal loan, which offers low rates and a smooth process.

Here are a few factors about My Shubh Life Personal Loan

Mode of Process

Online 

Location 

PAN India

Lending Size and Tenure 

5k-2L (3M to 24 M)

ROI

28%-44%

ROI (Fixed/Reducing)

Reducing

Processing Fees

3%

Foreclosure

As per Policies

Partial Payment Allowance

No

Dealing in Unsecured OD

No

USP

Funding to All Profile whether Employee of Proprietorship firm/Partnership firm or Company

Negative Profile for My Shubh Life Personal Loan

A negative list or negative profile is a list of areas of the city where residents would not qualify for credit approval. In India, this has been a relatively new development.

NGO

Mandir/Masjid/Gurudwara/Church


Company which are in Liquidation or in BIFR

 

Eligibility 

Documents Required 

  • The age of the applicant should be between 21 to 60
  • The min. salary of the applicant should be 12K 
  • The min. Employment should be 3 months of continuous salary 
  • The minimum CIBIL score has to be 705

 
  • KYC of Applicant (PAN+Passport Size Photo+Adhar Card)
  • Last 3 Month Salary Bank Statement in PDF
  • Last 3 Month Salary Slip if Salary is received by Cheque
  • Ownership Proof Latest Utility Bill (If rented then rent agreement)
  • Copy of Cancel Cheque of Salary Account or Passbook front page

Let us take an example, How EMI is being calculated


For instance, if "Shubham" applies for a Personal loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee upto 2-3% of loan amount may apply. T&C apply.

Year Principal
(A)
Interest
(B)
Total Payment
(A + B)
Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%

FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

A personal loan is an unsecured loan that you can get from their website to meet your unexpected financial obligations. The loan will be disbursed after a few hours of approval.

No, My Shubh Life only offers personal loans to salaried individuals.

Yes, After half the term of your current My Shubh Life personal loan has passed, you can apply for a top-up loan. If you have half repaid your existing loan, please email our support team at support@myshubhllfe.com, and they will enable you to apply for a top-up loan.

My Shubh Life personal loan disbursement will occur within two days of getting your documents verified by the bank officials.

Once the My Shubh personal loan gets approved, you will receive it within two working days.

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