Instant Online Personal Loan in Indore

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How it Works!

Quikkloan made the effortless process for the customers. Apply Personal Loan Online, Compare the best personal loan offer from the various Banks & NBF, upload the documents online, get disbursal in 24Hrs.

  Eligibility Criteria
Salaried Individuals between 21 to 58 years, Minimum Net Monthly Salary of Rs. 20,000 and Employed for at least 1-2 years

  Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque

  Get Disbursal in 1 Day*
Personal Loan up to 25 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation

Top Banks

Offering Lowest Personal Loan Interest Rates in Indore



Interest Rates

Loan Amount


Processing Fee

Apply Online


9.60% to 13.60% per annum

Up to 15 Lakh

Up to 5 Years

Nil – 1% of the Loan Amount + GST

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11.25% to 22.00% per annum

Up to 20 Lakh

Up to 5 Years

Up to 2.25% of loan amount+GST

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10.75% to 21.30% per annum

Up to 15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount

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Axis Bank

12%-24% per annum

Up to 15 Lakh

Up to 5 Years

As applicable by the bank

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Kotak Bank

10.99%-24% per annum

Up to Rs.15 Lakh

Up to 5 Years

Upto 2.50% of loan amount + GST

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YES Bank

10.99% per annum

Up to Rs.40 Lakh

Up to 5 Years

Up to 2.50% of the loan amount +GST

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Tata Capital

10.99% per annum

Up to Rs.25 Lakh

Up to 6 Years

Up to 2.50% of the loan amount+GST

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As applicable by the bank

Up to Rs.25 Lakh

Up to 5 Years

3.50% of the loan amount

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IndusInd Bank

11.25% per annum

Up to Rs.15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount+GST

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DCB Bank

10.22% per annum (one year MCLR)

Up to Rs.5 Lakh

Up to 5 Years

2% of the loan amount+GST

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Bajaj Finserv

12.99% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 4.13% of the loan amount+GST

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Aditya Birla Finance

14%-26% per annum

Up to Rs.50 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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16% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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HDB Financials

Up to 36% per annum

Up to Rs.20 Lakh

Up to 5 Years

Up to 2 % of the loan amount

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Fullerton India

12.99%-36% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 3% of the loan amount

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Personal Loan Eligibility in Indore


Eligibility Criteria



Minimum Age



Maximum Age



Minimum Income

Rs.35,000 monthly

Rs.2 lakh(annual)

Credit/Cibil Score

Above 750(out of 900)

Above 750(out of 900)

Minimum Job/Business Stability

1-2 Years

2-3 Years

Minimum Work/Business Experience

1-2 Years

3 Years

Minimum Profit After Tax


Rs.1-2 lakh(annual)


Personal Loan In Indore At A Glance




Interest Rates

Starting at 10.99% per annum

Loan Amount

From Rs 1,00,000-Rs.25,00,000


Up to 5 Years

Processing Fee

1.50%-2.50% of the loan amount+GST

Minimum Monthly Income


Cibil Score

Above 750 (out of 900)

Prepayment/Foreclosure Charges

2%-6% of the principal outstanding +GST

Personal Loan in Indore?

A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses with instant approval and disbursal of the loan amount.  A personal loan has several advantages including relatively simple documentation, flexible loan tenures and no restrictions on how you use the money.


This loan comes in handy to meet multiple needs such as:  

  • Medical Emergencies
  • Wedding Expenses 
  • Debt Consolidation
  • Home Renovation/Extension
  • Higher Education
  • Travelling Expenses
  • Purchasing High End Consumer Durables Value

How to Apply for Personal Loan in Indore?

Opt for an online mode to apply for a personal loan. The process is really simple, quick, and yet secure hence is preferred by many borrowers. In just a few simple and quick steps, you would be able to get a Personal Loan in Indore. The process starts by sending an online query, followed by receiving related quotes, which is then followed by document submission and finally instant approval and disbursal of the loan amount. The steps are really easy and time-saving hence allows you to get the loan without any hassle.


Steps to Apply for Personal Loan in Indore

Step 1: Fill Loan Query Form

Step 2: Get the Quotes

Step 3: Submit the Required Documents

Step 4: Get Instant Approval & Disbursal

CIBIL Score Required for Personal Loan in Indore

In the case of a personal loan, a score of above 750 out of 900 is the minimum requirement. Why so? Well, a personal loan is an unsecured loan which means no collateral or security is required to avail the same. But if the lender is offering you the loan without any security, it is important that your cibil score should be good. After all, a score is an indication of a borrower’s creditworthiness, it reflects the financial history of a borrower. And, a good score is an indication that a borrower can be trusted as far as loan repayments are concerned. A good score means, clean repayment history which assures easy repayments of the loan. 

Minimum Salary Required to Avail Personal Loan in Indore

An applicant needs to have a minimum monthly income of Rs.35,000 to enjoy a hassle-free loan journey. With a good income, it becomes easy for a borrower to pay his other monthly expenses hence can save enough to repay the loan without any default. Talking about income, it is one of the most important eligibility criteria that lenders do consider before providing the loan. Thus, one should ensure that his monthly income should meet the required criteria to enjoy a smooth loan journey.  

Personal Loan EMI Calculator

Not sure about the calculations of your monthly income? Don’t know the exact amount of EMIs you need to pay to the lender? Use personal loan EMI calculator, a smart online device that lets you know the calculations in a hassle-free manner. This online tool with its easy to use algorithms allows you in knowing the exact values of your EMIs, Interest Outgo and Total Amount Payable. The device starts to function, soon you enter:

  • Loan Amount
  • Tenure
  • Interest Rate  

Once these values are entered into the device, it will churn out the accurate values for you and that too in the least time frame. With a lot of features and benefits like these, a personal loan EMI Calculator would be helpful in taking a calculative decision. Take the help of an example to get more clarity. 

Suppose, an individual has taken a loan amount of Rs.14 lakh at an interest rate of 14.20% per annum for a tenure of up to 5 years. 


Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Loan Amount (in Rs.)

Interest Rate(per annum)

Tenure (in Years)

EMI (in Rs.)

Total Interest Amount(in Rs.)

Total Amount=Principal +Interest (in Rs.)
































Table Showing Principal, Interest and Balance Amount


Principal (in Rs.)

Interest(in Rs.)

Balance Amount(in Rs.)






















Personal Loan Fee & Charges

When it comes to apply for Indore personal loans, there are certain charges like processing fee, prepayment and part payment that you need to bear. A borrower needs to pay a one-time, non-refundable  processing fee at the time of availing the loan. Whereas, prepayment and part payment charges are optional. A borrower will pay the charges if he avails any of the facility.


Apply for Personal Loan in Indore

Indore is the largest city in the state of Madhya Pradesh. It is one of the largest commercial capital states and also considered as an education hub. Indore has been selected as one of the hundredth cities to be developed as a smart city under smart cities mission.

To borrow a personal loan in Indore, a good credit history, adequate salary and minimum age are important. Moreover, a good credit profile will help you to get an instant approval on your loan application as the lender would check your credit history and your final credit score while assessing your credit worthiness.


Feature & Benefit Of Personal Loan

The Best feature and benefit Of a Personal loan 

Instant Approval: Apply personal loan in Indore and get instant approval and disbursal of the loan amount. Soon after your eligibility matches with the lender, you can expect to have instant approval of a loan.

Fastest Disbursal: With instant approval comes fastest disbursal as the loan amount will be disbursed quickly to your account. People can get the required funds quickly to fulfil their needs. 

Less Documentation:This unsecured loan comes with minimal documentation, which means no more hassle of submitting a long list of documents. The process is quick and easy now.  

Minimal Fee & Other Charges: While availing a loan, there are certain charges that you need to bear. And, these are also reduced now just to lower the loan burden. 

Good Loan Amount: With a maximum loan amount of up to Rs.25 lakh, all your financial needs can easily be fulfilled. Money is not a problem anymore to accomplish your personal as well as financial needs.  

Flexible Repayment Tenure:  Your instant loan comes with easy repayment tenures to choose from. With a tenure ranging between 1 to 5 years, repaying your loan will not be a burden on your shoulders.

Documents Required For Personal Loan

Mentioned are the personal loan documents for salaried and self-employed.



Complete Online Application

Fillup the Online loan Application in just 2 minutes


Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card


Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card


Bank Statement

Latest 3 Months Bank Statement or Passbook


Income Proof

For Salaried – Latest 3-month Salary Slip

                    For Self Employed –  ITR and Current Bank Statement of 3 months

Frequently Questions

What is the personal loan amount limit one can avail?

Salaried individuals can avail loans anything up to Rs.25 lakh. In the case of availing a joint loan, the loan amount will increase as the income of both parties are taken into consideration.

Are there any foreclosure charges for personal loans?

Banks and NBFCs charge anything between 2-4% of the outstanding amount when the customer makes a foreclosure. That said, in most cases customers can make a foreclosure only 6 months after commencement of the loan.

Can you tell me the best way to pay an EMI towards a loan?

There are several ways to pay an EMI. You can use your net banking account, credit card, debit card, etc.

How can I calculate the EMI towards a personal loan?

You can calculate the EMI using an online personal loan EMI calculator.

Can I receive Tax Benefits on my personal loan?

Unless the personal loan is used for a home renovation project, tax benefits are not associated with personal loans. You can, however, avail tax benefits under Section 24 of the Income Tax Act on the interest that is paid on the loan but not on the principal amount that is paid.

What should be the minimum credit score of an individual?

A good credit score is anything above 750 out of 900.

Is there any collateral required to avail a personal loan?

No collateral or security is required for obtaining a personal loan in Indore.

Can I buy a two-wheeler using a personal loan?

The personal loan could be used for any legitimate purpose. Its end use is not restricted.

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