If you’re looking for a personal loan with quick approval and disbursal, the Instant Personal Loan from Piramal Finance is a competitive option to consider. This offer provides loans ranging from ₹50,000 up to ₹25 Lakh, with interest rates starting at just 12.14% per annum. Loan tenure is flexible, allowing between 9 and 60 months. No collateral is required, and all applications can be completed online, making the process seamless for salaried and self-employed individuals.

How to Apply – Step by Step

• Register online by providing your mobile number and verifying through OTP
• Enter your basic and KYC details such as PAN, income, and address
• Provide bank account details and employment information for verification
• Upload latest bank statements and complete the e-mandate and e-signature process
• Review, select, and confirm your loan offer digitally

Pros – What Makes This Loan Attractive

The immediate approval and 24-hour disbursal is one of the quickest among personal loan providers. Borrowers also benefit from a completely digital process, which means minimal paperwork and no branch visits required. There are also no hidden charges, with all fees transparently laid out before you apply.

Another strong point is the wide eligibility criteria. Both salaried employees (private and government) and self-employed individuals can apply, provided they meet the income requirements and have a credit score of 750 or above.

Cons – Consider Before You Apply

The minimum salary requirement for salaried applicants is set at ₹25,000 per month, which may be limiting for some. Self-employed applicants must also demonstrate an annual income of at least ₹3 Lakh and a high credit score to qualify. Additionally, there are charges for pre-closure and part payment (3% of the principal), which might be important if you plan to repay your loan early.

Our Verdict

Piramal Finance’s Instant Personal Loan is a reliable and efficient solution for those looking for quick access to funds without the hassle of collateral. The simple online process, fast disbursal, and transparent terms make it a recommended choice if you meet the eligibility criteria and require a large loan amount. Consider your income and repayment ability before making your application.