EMI Calculator

Interest Type

Loan Amount

Interest Rate


Loan Tenure

Loan Amount100,000
Interest %8 %
Tenure (months)12
Emi (monthly)8,699
Total Interest4,386
Loan Amount + Interest104,386
YearTotal Principal
( A )
Total Interest
( B )
( A + B)
Total Payment Loan Paid Till Date (%)
40,7012,79443,49559,29940.70 %
Aug8,0326678,69991,9688.03 %
Sep8,0866138,69983,88216.12 %
Oct8,1405598,69975,74224.26 %
Nov8,1945058,69967,54832.45 %
Dec8,2494508,69959,29940.70 %
59,3011,59260,8930100.00 %
Jan8,3043958,69950,99549.00 %
Feb8,3593408,69942,63657.36 %
Mar8,4152848,69934,22165.78 %
Apr8,4712288,69925,75074.25 %
May8,5271728,69917,22382.78 %
Jun8,5841158,6998,63991.36 %
Jul8,641588,6990100.00 %
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

Enjoy Your Financial Freedom!

Once your application gets approved based on your eligibility, you will be having your loan amount disbursed to your bank account.

Always Check All the Facts Before Applying.

Things You Should Consider Before Applying for a Personal Loan

Applying for a Personal Loan is no Rocket Science, whereas to cancel out all the chances of getting rejected for approval, you must consider a few things closely, such as:

  • Examine your loan’s needs.
  • Do proper research to get the best rate
  • Examine your credit report
  • Carefully read the fine print on your loan agreement.
  • Assess your repayment ability before deciding on a loan term
  • Select a reasonable interest rate.
  • Examine your EMIs thoroughly
  • Examine the processing costs
  • Depending on your option, choose a fixed or variable interest rate

Tips for successful Personal Loan application

When looking for a personal loan, there are a few factors to keep in mind. Check out this list of the most useful tips for dealing with personal loans:
  • 01

    Credit Clean-up

    Your credit score is one of the most important variables that lenders check. A high credit score makes it easier to obtain a personal loan. If your score is poor, you should double-check your reports for any inaccuracies. Sometimes, simple inaccuracies can have a negative impact on your scores, and you must submit them to CIBIL if you discover any.

  • 02

    Rebalancing your income and debts

    When you apply for a personal loan, lenders will ask for proof of income to determine your debt-to-income ratio. To boost your annual income, consider selling liquid assets like stocks or taking on a part-time job. This will raise your debt-to-income ratio and your chances of getting approved for a loan.

  • 03

    Consider Co-signers/Guarantors

    If you’re having trouble getting a personal loan on your own, you can apply with the help of a co-signer or guarantor. A solid credit score is required of the individual you choose as a guarantor. Their primary goal is to ensure that you return the debt. They will, however, be responsible for repaying the debt if you are unable to do so. Choosing someone with a credit score of 650-700 can significantly improve your chances of obtaining a personal loan.

  • 04

    Limit Borrowing

    Asking for more money than you need to fulfill your financial goals can be too risky. Make sure you figure out how much you’ll need and just apply for that amount.

  • 05

    Choose the Right Lender

    When it comes to credit scores and income, each lender has its own set of requirements. Choose a lender whose eligibility criteria you fulfill and apply accordingly while looking for personal loans. The trouble with applying to many lenders is that each one will examine your credit score, and each time your full credit report is accessed, your credit score declines slightly.

Take control of your financial future with a personal loan

Advantages of Getting a Personal Loan from ReferLoan

Getting a loan from ReferLoan is the most convenient and beneficial way to get your personal expense going. As you start your Loan journey, we are here to help with our easy loan process, competitive rates, and flexible closing times.

  • Minimal Documentation
  • Rapid Procedure
  • Instant Approval
  • Determined Loan Tenure
  • Low-Interest Rates
  • Wide Range of Lenders
  • No Collateral Required*
  • Flexible EMIs
Eligibility to Apply for a personal Loan

Eligibility and Criteria

Age of applicant

The age of the applicant always plays an important role in the rate of interest as well as the tenure of the Personal Loan and the minimum age should be 21 Years and the maximum age decided is 60 Years.

Income of applicant

the loan amount is decided by the income of the applicant and the income should not be less than Rs.15,000/- per month some banks do consider an in-hand salary of Rs.13,000/- per month as well.

CIBIL score

it was always recommended to have a CIBIL score of 700 and if your CIBIL score is no less than 650 then you’re also eligible for the loan amount.

Continuity of Job

this differs from different bank policies and requires a minimum 3-month job or more.


the eligibility is different, but the applicant who is salaried employees, self–employed professionals, self–employed nonprofessionals, and private limited companies are applicable.


The Co-applicant must have a regular and reliable source of income

Because Right Documents Play a Major Role!

Required Documents

KYC of an applicant consist of the following documents

PAN Card


Aadhaar Card

Driving Licence

Voter ID


Salaried income documents

  • Last 3 months' salary slip
  • Form 16 of last 2 years
  • Income Tax Return if any of last 2 Years
  • Last 3 months' bank statement if the salary directly credited in the bank account
  • Certificate of employment from current employer

Self Employed person documents

  • Income tax returns of previous 2 years
  • Statement of finances with a proper balance sheet with profit and loss in that sheet
  • Bank statement with continuity of business
  • GST registration evidence of business
How ReferLoan can help in getting a Personal Loan?

Wide Choice

Choose from 175 banks & NFCs that include HDFC Bank, SBI, Axis Bank, ICICI Bank, IndusInd Bank, and more.

Chances of Approval

ReferLoan has a unique feature called ‘chances of approval,’ which compares your credit profile to several lending criteria used by banks and NBFCs to determine the likelihood of your loan application being accepted – Excellent, Good, Fair, or Poor – for each lender.

Pre-approved Personal Loan Offers

Our customers receive pre-approved personal loan offers from our partners based on their credit profiles. Our pre-approved personal loan offers have a high acceptance rate, need little documentation, and are available immediately.

Expert Assistance

Customers can choose the best personal loan offer for their circumstances with the help of ReferLoan’s team of specialists. Our team of experts from various financial fields advises customers throughout the loan process, from application to disbursement to cancel out any possibility of getting their applications rejected.

What is a Personal Loan?

There’s nothing like a helping hand in a time of need. With a Personal Loan, you look after all your personal financial needs and repay flexibly.

Personal loans are unsecured loans offered by financial institutions and are based on factors such as employment history, repayment capacity, income level, profession, and credit history. A personal loan, also known as a consumer loan is a multi-purpose loan that can be used to cover a variety of immediate requirements.

Leave Your Question


A personal loan can be utilized for almost every kind of spending, from pricey trips and debt consolidation to big-ticket item purchases and house improvements. Moreover, personal loans can also be helpful for paying for unforeseen medical expenses, company investments, car repairs, down payments for new homes, and many other things.

Yes, most lenders have set a minimum lending amount for personal loans. However, this amount can vary from our lending institution to another.

Yes, you can apply for a personal loan either alone (singly) or with a co-applicant (jointly). A family member like your spouse or parents can be a co-applicant. By having a co-borrower on your side, the loan application will be processed in a higher income bracket, making you eligible to avail of a larger amount of loan. However, keep in mind that the likelihood of your loan application being approved could be negatively impacted if you or your co-applicant have a bad credit history.

Once your personal loan is approved, you may either get an account payee cheque/draft equal to the loan amount or receive the money deposited automatically into your savings account via NEFT or IMPS.

Personal loans typically offer no tax advantages, but if you use one for home improvements or a down payment, you will be eligible for an income tax deduction under section 24.