Collateral-Free Loan


Interest Rate starting from 10.25%.


Minimal Documentation

What is a
Personal Loan?

A personal loan is an unsecured loan that a person borrows from banks or NBFCs (Non-banking financial companies) to fulfill immediate and personal needs. An unsecured loan does not need any collateral. It is also called a signature loan and can be applied by just using a person's financial details and creditworthiness.

My Mudra helps you to get an urgent personal loan in India in a minimal time, reducing the path between you and your dreams. We are assisting the needful in getting a personal loan online and offline with the lowest interest rate as per your requirement.

What is a Personal Loan?

Personal Loan
Eligibility Criteria

It's important to understand personal loan eligibility and know what matters the most to the lenders. Below mentioned are the personal loan eligibility and documentation that must be fulfilled before applying for a personal loan online.

1. CIBIL Score: Check the credit history of your finance, you must have a credit score of more than 700 to qualify for a personal loan at a low-interest rate.

2. Age: 21 years - 68 years

3. Employment Status: Borrower must be employed for at least 2-5 years or you must have been a running business for 2-5 years.

4. Monthly Income: Rs.20,000

5. Tenure: The time period of the loan is between 5-7 years.

Documents Required for Personal Loan

1. Identity proof

2. Address proof

3. Bank statement of previous 3 months

4. Passbook of previous 6 months

5. Two latest salary slips/current dated salary certificates with the latest Form 16

Personal Loan Eligibility Criteria

How to apply for
Personal Loan

1. My Mudra provides multiple options for an eligible person to apply for a Personal Loan. Online loan apply personal loan or apply immediate personal loan offline through their Phygital process. Give us a call on our number.

2. Our agent will give you a call to guide you through the process of a Personal Loan.

3. Get your documentation complete within hours. Apply personal loan online for instant approval over your mail.

4. The loan shall be disbursed to your account.

5. You can track the status of your Personal Loan through the My Mudra portal.

How to apply for Personal Loan

Which Banks to prefer for this loan

Bank Rate of Interest
HDFC Bank 10.25%
IndusInd bank 10.25%
Standard Chartered 10.75%
Axis Bank 10.99%
Kotak Mahindra 10.75%


Personal Loan EMI Calculator

Loan Amount



Interest Rate


Your Monthly loan emi Rs.23,537

Monthly amount paid to your loan provider

Interest rate

Total Payble Amount


your loan details as specified by you

Loan Amount
Interest Rate

Frequently Asked Questions
On Personal Loan

Which bank is providing cheapest Personal Loan in India?

My Mudra is providing the cheapest Personal Loan in India starting at an interest rate of 10.25% P.A. 

What is the interest rate for Personal Loan?

Personal loan with lowest interest rate is available, the interest rate for the personal loan starts from 10.25% P.A.

What is the process of Personal Loan?

Get fast approval personal loan through My Mudra. Borrowers can get their documentation done online and can get instant approval and disbursement of personal loan. 

What is the eligibility criteria for Personal Loan?
A Person having minimum salary of Rs.20,000 with a CIBIL Score of more than 750 is eligible for the personal loan.
Is Personal Loan secured or unsecured Loan?

Personal Loan is unsecured loan because it does not require any collateral.