Personal Loan in
Delhi

You need to earn at least ₹20,000 per month to qualify for a loan from lendingplate. We look at your monthly salary to check if you can pay back the loan comfortably. This income limit makes sure you don't take a loan that would be hard to repay. We might ask for your salary slips or bank statements to confirm your income.

Yes, you can apply for our loan even if you don't have a credit score or have a limited credit history. We use our own system called social loan quotient that looks at many factors beyond just credit score. New earners who have never taken loans before can still get approved. We might look more closely at your income stability and other financial details. First-time borrowers might get smaller loan amounts until they build a payment history with us.

Our loan gets processed much faster than traditional bank loans. The whole process, from application to money in your account, takes just 30 minutes if all your papers are correct. You apply online, so there's no waiting in lines. Our system checks your details right away using technology. The verification happens automatically in most cases. Some applications might need extra checks that take a bit longer.

Missing payments on your loan results in late fees and might hurt your credit score. We charge extra money on delayed payments as per our loan agreement. Your credit score can go down – making future loans harder to get. We send reminders before due dates to help you remember. If you know you'll miss a payment, contact us beforehand to discuss options. We sometimes offer payment plans for customers facing temporary money problems.

Our loans don't give direct tax benefits like home loans do. The loan amount you get is not counted as income – so it's not taxable. You cannot claim tax deductions on the interest you pay for general personal loans. However, if you use the loan for business purposes, you might claim tax benefits under certain sections. Keep proper records if you plan to use the loan for business. Always consult a tax expert about your specific situation.

NRIs can apply for our loan if they have an Indian bank account and valid income proof. You need to show your NRI status and foreign income details. We might ask for additional papers compared to resident Indians. The loan amount gets paid to your Indian bank account only. You must follow all RBI rules for foreign exchange when repaying the loan. Interest rates might differ slightly for NRI applicants based on risk factors.

The highest loan amount we offer is ₹2,50,000 based on your income and credit profile. Your monthly income plays a big role in deciding your loan limit. We typically approve up to 10 times your monthly salary (depending on other factors). Your credit score and payment history influence the final amount. People with excellent credit records might qualify for the maximum amount. First-time borrowers usually start with smaller loan amounts.

You can check if you qualify for our personal loan in Delhi through our website eligibility calculator. Enter basic details like your age, income and employment information. The tool instantly tells you if you likely qualify and estimates your loan amount. This check doesn't affect your credit score at all. You can try different loan amounts to see what works best. For more exact results, call our customer service team – who can help assess your situation.