Personal Loan Online

Cash is king in life. If you need something urgently and you get money to purchase or invest or spend for or a best utilisation for that, this situation is awesome. To have this in life, banks and NBFCs have come up with a product called "Personal loan online". They are willing to give a personal loan to people who are in need.

It has many plus points (Benefits):

  • It helps at any urgent cash crunch situation. It may be a Medical emergency, payments for a laptop, funding a trip to attend an urgent program, quick cash for marriage -- whatever the need, personal loans help in our lives.
  • No questions asked about the end use of the money. Your account gets credited with loan amount and it's up to you (the borrower), where to use it and how to use it. So, it is a very convenient financial help.
  • No collateral, security or guarantors are required for this loan. It is solely disbursed on the basis of an individual's credit-worthiness. This saves a lot of embarrassment and hassles.
  • Banks do take into account the income, employment, continuity of business and other factors. This is to establish the fact that the borrower will be able to repay the personal loan with interest in due time.
  • The secrecy and confidentiality is maintained by the financial institutes as there are no security or collateral requirements.
  • It can remain a secret between you and the bank. Moreover every bank has some privacy policies, which ensures adequate confidentiality.
  • It has very simple documentation and with minimal eligibility and zero collateral requirements i.e., A proof of identity, income proof and residence proof.
  • Loan amount can be more depending on a borrower's repayment capacity. Institutes are willing to give a personal loan ranging from Rs 25,000 /-to Rs 5, 00,000/-.Use personal loan EMI calculator to estimate your monthly installments. This is one of the reasons to take a personal loan online and many a times it is a best choice to meet big budget requirements.
  • Hence one should go for it when one needs it urgently. It is normal.

To make you acquainted with other few points to understand the product, we have indicated the following which will definitely help you.

Eligibility :

Take a glance at our Loan Eligibility Calculator for further actions.

Purpose :

For any purpose including any social and financial commitment.

Amount :

Private Banks: 5 lacs and more depending on the repaying capacity

Disbursement :

Generally in one go.

Moratorium :

No Moratorium, Repayment starts from next month.

Prepayment Issues :

Public sector Banks -No prepayment penalties and Private Banks- may levy pre payment penalties.

Repayments and Collection :

36 monthly EMIs. In case of big loans it is extended up to 60 EMIs.

We are here to help you out :

A need in time and getting it in time are both enriching life.


Q. How is the maximum EMI Amount calculated?

Ans. Banks mostly based their loan amount based on the maximum EMI amount that the individual can afford. This EMI usually capped at 30% to 40% of the applicant's net take home salary. If you have any existing loans, the maximum personal loan EMI will drop accordingly.

Q. Does my credit history and score affect my chances of a successful application?

Ans. A personal loan is usually based on criteria such as your monthly net income and your previous credit history including score. Hence, credit score plays a key role in both ensuring the success of the application as well as in determining the interest rate of the loan.

Q. Is there a prepayment penalty on personal loan?

Ans. Yes. Most banks and NBFCs charge a prepayment penalty of 1% to 3% on the outstanding principal amount of a personal loan.

User Reviews

Dev Patnaik , Orissa

Highly suggestible

I registered for the loan process and on the same day I received follow up call from Myfundbucket, I like their customer service. It is so easy in myfundbucket to check the credit score without any fees. The website is good and user friendly for the first time users like me

Ravi purohit , Ahmadabad

Fast Loan

MyFundBucket helped me getting personal loan when I was in urgent need of loan, must say you guys are doing very good job. I seen your website advertisement at facebook and tried to apply for personal loan. Website process is easy and fast. Thank you

Robert D'souza , Hyderabad

Awesome Portal

Thanks to for helping me in getting loan otherwise I might not have got such a great loan to help pay for my daughter's wedding. She wasn’t expecting it but there was no other way going to be paying for my daughter’s wedding. MyFundBucket means a great deal to me because it helped me getting affordable loan which was approved quickly. Once that approval was confirmed I was tension free for the wedding. Thanks once again MyFundBucket for helping this old man!

Pratick Parmar , Gujrat

Very Good Service

This was the first time I have used, I am very much satisfied with services. The process for applying loan on their website is very easy. Agents calls to follow up and also very cooperative. In future whenever I need financial help, I will approach MyFundbucket. I am happy with the service provided by

Priti Mishra , Indore

Loan Specialist is best choice for all queries like Credit score, loans etc. I have many time used this website to for different types of queries, it was always help full in choosing correct bank offers. I think this is the best place of tracking the best bank offers. I am very happy with the rate of interest they selected for my personal loan.