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personal Loan Overview
A Personal Loan is an unsecured financial product designed to meet a wide range of personal requirements such as medical expenses, travel, home renovation, weddings, education, debt consolidation, or emergency needs. Unlike secured loans, a personal loan does not require any collateral or guarantor, making it one of the most flexible and easily accessible loan options for individuals with steady income and a good credit track record.
At Mitra Loans, we partner with top banks and NBFCs to offer customized personal loan solutions at competitive interest rates and convenient repayment tenures. With minimal documentation, rapid processing, and transparent communication, we ensure customers receive the right loan suited to their financial capacity and repayment preferences.
Personal loans are typically offered with tenures ranging from 12 to 72 months, allowing borrowers to choose comfortable EMIs based on their income. Loan approval is primarily based on credit score, existing obligations, employment stability, and banking history. Our experts assess the customer’s profile, compare multiple lender offerings, and guide them in selecting the most suitable option with the lowest interest rate and favourable terms.
Mitra Loans ensures a seamless end-to-end experience by assisting with application submission, documentation, verification follow-up, and disbursement tracking. Whether you need funds urgently or are planning a major personal expense, our personalized advisory ensures you receive the financial support you need with maximum convenience.
Eligibility Criteria
For salaried Individuals
- Minimum age: 21 years; Maximum: 58–60 years
Minimum monthly salary: ₹15,000 to ₹25,000 (depending on lender)
Employment with a private company, MNC, PSU, or government organisation
Minimum 6–12 months of continuous employment
CIBIL score of 700 or above preferred
Clean banking with no cheque bounces
For self employed Individuals
Minimum age: 25 years; Maximum: 65 years
Minimum business vintage: 2–3 years
Stable financial statements and cash flow
CIBIL score of 700 or above
Minimum annual turnover as per lender policy
Proof of consistent bank transactions
Document required
For Salaried Individuals
KYC Documents
PAN Card
Aadhaar Card
Address proof (Passport / Voter ID / Driving License)
Income Proof
Last 3–6 months salary slips
Form 16 or ITR (if required)
Bank Statements
Salary account bank statements for last 6 months
Additional Documents
Employee ID card
Loan repayment history (if refinancing
For Self employed Individuals
KYC Documents
PAN Card (personal)
Aadhaar Card
Business proof: GST certificate, Shop Act, MSME registration, partnership deed, etc.
Income Documents
ITR for last 2–3 years
Financial statements (P&L and balance sheet)
Sales invoices, purchase bills (if required)
Bank Statements
Business account statements (12 months)
Additional Documents
Business profile
Office address proof
emi cALCULATOR
Customer Reviews