Instant Small Personal Loan

Online in 1 Day @10.45%


Quikkloan offers a free service and therefore, we do not charge any fee from customers


100% Online Process

No Branch Visits

No Hidden Charges

Minimum Documentation Process


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Check Your Small Loan Eligibility in |
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Instant Small Personal Loan Online in 1 Day*

Quikkloan offers a free service and therefore, we do not charge any fee from customers

100% Online Process | No Branch Visits | No Hidden Charges | Minimum Documentation Process


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What is a Small loan?

Small loans or short term loans as they are also called, are becoming increasingly popular because they are easy to avail. The terms and conditions with which they come are also quite favourable to borrowers. Small small loans can be availed by both salaried employees as well as self-employed individuals. They are also available to first-time borrowers.

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 & NBFC’s, upload the documents online, get disbursal in 24Hrs.

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Group 12261  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

Group 12265  Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque

Group 12264  Get Disbursal in 1 Day*
Personal Loan up to 1 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation

Purpose of Small Personal Loan

Small Personal Loan Is Multinature in use. As Personal Loan is an unsecured loan so it can be used for various following purposes.

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Documents Required For Small Personal Loan

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



Group 13142 Complete Online Application

Fillup the Online loan Application in just 2 minutes


Group 13143Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card


Group 13144 Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card


Group 13145Bank Statement

Latest 3 Months Bank Statement or Passbook


Group 13147Income Proof

For Salaried – Latest 3-month Salary Slip

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

Feature & Benefit Of Small Personal Loan

Attractive Interest Rates: Small loan instant comes at an attractive interest rate which means repaying the loan would be easy on your pocket. With competitive rates, expect to have pocket-friendly EMI hence less burden on your shoulders.

Instant Approval: This unsecured loan can be availed instantly if you meet the required criteria. The process is quite simple and hassle-free hence with fewer formalities, one can get the loan faster

Fastest Disbursal: Once your loan is approved fastly, you can expect to have instant disbursal as well. The loan will be disbursed as soon as your application is approved and the amount will be credited to your bank account.    

Flexible Tenures: Online personal loan has flexible tenure options to choose from. Hence, repaying this loan is absolutely easy as you can choose the tenure as per your choice.  

Multi-purpose Loan: Single loan can be availed to cater to various personal needs such as weddings, travel, home renovation, credit card debt, education, medical expenses, etc. 

Collateral-free Loan: This loan is collateral-free, which means a borrower doesn’t need to pay any security to the lender while availing it. 

Minimal Documents: No more lengthy documents and hassle of submitting the same. Now with just a few KYC documents, you can apply for a personal loan online.

Fewer Loan Charges: The loan comes at minimal fee and charges which means no extra burden when it comes to repaying the same.

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Small Personal loan Details

Know the Personal Loan Details. These details vary with lender’s Criteria. 
Processing Fee Depends upon bank to bank (Generally 1-2 %)
Loan Tenure 3 months to 1 Years
Loan Amount 5000 to 1 Lakhs
Lock-in-period Varies from lender to lender
Preclosure Charges Differs;  Generally between 2%-5% of the loan outstanding
Guarantor Required Note Required

Frequently Asked Questions

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How long does a bank take to approve an application for a personal loan?

It depends from bank to bank as each lender has its own process. Usually a loan application is approved within 5-7 working days.

How is a personal loan repaid?

The personal loan can be repaid by paying the loan amount back to the bank in the form of Equated Monthly Instalments (EMIs). A borrower can opt for an auto-debit payment, wherein the EMI amount will automatically be debited from your bank account.

Can I get the balance transfer facility with my personal loan?

Availing a balance transfer facility depends on the bank. There are some banks that offer the balance transfer facility if the customer has made at least 12 EMI payments. It is advisable that you check with your bank before you apply for the loan.

Are there any additional charges that an applicant has to pay when he/she gets a personal loan from a bank?

Yes, there are a couple of different additional charges. Most banks charge an applicant an interest fee that ranges from 2% to 2.5% of the total amount that they wish to borrow. The fee is deducted from the amount that has to be disbursed to you.

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 are the Factors That Can Influence Personal Loan Interest Rates?

These factors include your income, repayment potential, credit score, etc.

Is the GST Levied Over the Interest Rate on a Personal Loan?

No, the Goods and Services Tax (GST) is not levied over the interest rate on a personal loan.

What are the Types of Personal Loan Interest Rates That Lenders Offer to Borrowers?

Personal loans can be offered on a flat and reducing balance basis. In a flat rate, the interest will be charged on the principal outstanding all the time irrespective of which stage the loan is in. Whereas, in a reducing balance, the interest is charged on the principal outstanding left after the EMI payment.

What is an EMI?

An Equated Monthly Installment (EMI) is a sum of principal and interest payable every month to the lender. Greater the rate of interest, the higher will be the EMI amount and vice-versa.

How Soon Can You Apply for a Personal Loan?

Anyone working in a public or private entity can apply for a personal loan as soon as he/she attains the minimum age of 21 years. Self-employed, on the other hand, will need to be a minimum of 24 years at the time of loan application.

How Much Work Experience is Required to Get a Personal Loan in India?

You must have worked for a minimum of 2-3 years to get a personal loan in India. However, lenders also want you to have a minimum of 1-year work experience with the current organization.

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