Funds When You Need Them. Borrow with Care.
A personal loan is typically an unsecured loan that can be used for personal needs such as medical expenses, education, travel or a major purchase. Because there is usually no collateral, interest rates are generally higher than for secured loans.
Key Points to Understand
- Eligibility & Credit Score — Approval and pricing depend heavily on your income and credit history.
- Interest Rate & Fees — Compare the interest rate along with processing and other charges.
- Tenure & EMI — A longer tenure lowers the EMI but increases the total interest paid.
- Prepayment & Foreclosure — Check the charges, if any, for repaying early.
- Total Cost — Look at the overall cost of borrowing, not only the EMI.
Borrow Responsibly
- Borrow only what you need and can comfortably repay
- Avoid using borrowed money for speculative purposes
- Remember that missed EMIs can hurt your credit score and attract penalties
- Keep an emergency fund so that you are not forced to borrow repeatedly
How VALUE ADDITION Helps
We help you understand eligibility, compare offers and complete the application process. The decision to sanction a loan rests entirely with the lender.
Important note
Loans are offered by banks and financial institutions. Eligibility, interest rate, fees, tenure and approval are decided solely by the lending institution and may change over time. Borrow only what you can comfortably repay and read all loan terms and charges carefully before signing. This page is general information, not a loan offer.