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Express Disbursal
Get ₹20 Lakh in Your Account Today
Turn your plans into reality with our express personal loan of ₹20 Lakh. Perfect for home renovation, weddings, or medical emergencies with zero collateral.
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Rs.65k Cr+
Loans Disbursed
Loan Details
Apply ₹20 Lakh Personal Loan
Calculate your EMI and total interest for a personal loan of ₹20 Lakh with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹20,00,000 over 12 months at 9.99% APR. Total repayment: ₹21,09,869.67 with monthly EMIs of ₹1,75,822.47.
EMI Calculator
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₹20,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹1,75,822.47
Total Interest
₹1,09,869.67
Quick Navigation
What is a Pre-Approved Loan?
A pre-approved loan is an exclusive offer extended by banks to existing customers with a clean track record. These loans feature instant disbursal and often require zero documentation.
Since the bank already knows your financial history, repayment is usually set up via auto-debit from your account, with tenures typically between 12 and 60 months.
Offer is invite-only based on:
- Existing relationship with the bank
- High credit score (750+)
- Consistent account balance
- History of timely repayments
Check your net banking dashboard or mobile app to see if you have a pre-approved offer waiting.
Financial Guide
Personal Loan Interest Rates
Personal loan interest rate offers on Six Finance start from 9.98% p.a. The interest rate is determined on the basis of an applicant's credit profile, income, and employer reputation.
5 Tips to Choose the Best Personal Loan
Choosing the best personal loan requires careful consideration of costs and flexibility. Here's how to choose right:
1
Compare APR, not just Interest Rate
Look at the Annual Percentage Rate (APR) which includes processing fees and insurance, giving you the true cost of the loan.
2
Check Pre-approved Offers
Banks where you have a savings account often provide pre-approved offers with faster disbursal and minimal documentation.
3
Understand Foreclosure Charges
Some lenders charge up to 4% if you close the loan early. Look for lenders with zero or low foreclosure charges.
4
Assess Affordability
Use an EMI calculator. Ideally, your total EMI outgo (including the new loan) should not exceed 40-50% of your net monthly income.
5
Read the Fine Print
Check for hidden costs like bounce charges, penal interest, and duplicate statement charges.
Choose the Right Personal Loan Amount
Pre-approved Loan Eligibility
Check your pre-approved offer These offers are extended to select customers based on their relationship with the bank and repayment history.
Existing Relationship: Must have a Savings/Current account or Credit Card with the lender.
Repayment Track Record: Clean history of timely payments on existing loans or credit cards.
Credit Score: High credit score (750+) increases chances of getting instant offers.
Account Balance: Consistent Average Monthly Balance (AMB) maintenance.
Income Credits: Regular salary credits or business turnover in the bank account.
KYC Status: Full KYC compliance with the bank is mandatory for instant disbursal.
Fees for Pre-approved Personal Loans
Since these loans are offered to existing customers, the fee structure is often subsidized or waived entirely: For a detailed breakdown of pre-approved loan charges, see below:
| Particulars | Charges |
|---|---|
| Processing Fees | Nil to 1.5% (Often waived during offers) |
| Foreclosure Charges | Nil (after 6-12 EMIs) |
| Documentation Charges | Nil (Digital Process) |
| Stamp Duty | As per state actuals (deducted from loan amount) |
| Part-Payment Charges | Nil |
Note: Some banks may charge a nominal 'Convenience Fee' for instant digital disbursement.
Check Personal Loan Offers Based on Your Salary
Why Choose a Pre-approved Personal Loan?
Pre-approved loans are exclusive offers extended to select customers based on their creditworthiness and relationship with the bank. These loans bypass the lengthy verification process, offering instant funds when you need them most.
Key Benefits of Pre-approved Offers
- Instant disbursal (often in minutes)
- Zero physical documentation required
- No collateral or security needed
- Preferential interest rates for existing customers
- Flexible repayment tenures
- 100% digital application process
Pre-approved vs Regular Personal Loan
Pre-approved loans offer speed and convenience, but how do they stack up against standard loans?
| Pre-approved Loan | Regular Personal Loan |
|---|---|
| Instant Disbursal (0-24 hrs) | Standard Processing (2-7 Days) |
| Zero Physical Documentation | Requires Salary Slips/ITR & KYC |
| Interest Rates often lower/preferential | Standard market interest rates |
| Invite-only (Basis relationship) | Open to all eligible applicants |
| Loan Amount is non-negotiable | Loan Amount can be negotiated |