Personal loans can help meet expenses such as medical emergencies, home repairs or other financial requirements without having to pledge any collateral. For borrowers looking for quick access to credit, Paisabazaar has expanded its instant personal loan programme to 18 lending partners, including six banks.
Eligible applicants can access personal loans of up to ₹7 lakh through the platform’s digital application process.
The company said borrowers meeting the eligibility criteria could receive the loan amount within one to two hours, subject to lender approval and completion of the required formalities.
The lending partners include HDFC Bank, Axis Bank, YES BANK, IDFC FIRST Bank, Federal Bank and IndusInd Bank. The non-banking financial company (NBFC) partners include L&T Finance, Poonawalla Fincorp, Tata Capital and Hero FinCorp.
The expanded network brings multiple lenders onto a single platform, allowing applicants to view loan offers based on their eligibility and requirements.
How can you apply for a personal loan through Paisabazaar?
The application process involves four steps:
- Submit personal and income details: Applicants need to provide their personal information and income-related details through the digital application process.
- Check eligible loan offers: Based on the details submitted, applicants can view loan offers from lenders for which they meet the eligibility criteria.
- Complete video KYC: Applicants need to complete the video-based Know Your Customer (KYC) process as part of the application formalities.
- Proceed with disbursal: Once the lender approves the application and the necessary formalities are completed, the loan amount can be disbursed to the borrower’s account.
According to Paisabazaar, eligible customers can receive the loan amount within one to two hours. However, the actual timeline depends on lender approval and completion of the required checks and documentation.
What should borrowers check before taking a personal loan?
Borrowers should compare interest rates, processing fees, repayment tenures and other applicable charges across available offers before choosing a lender. They should also calculate the equated monthly instalment (EMI) and assess whether it fits their monthly budget.
A personal loan is generally an unsecured loan, meaning borrowers do not have to pledge collateral. However, the interest rate and loan amount offered can vary depending on the applicant’s credit profile, income and the lender’s eligibility criteria.
Separately, Paisabazaar said its core disbursals increased 22% year-on-year in the second quarter of FY27, while unsecured loan disbursals grew 30% during the period.