A Personal Loan is an unsecured loan offered by banks requiring minimal documentation and no collateral. The loan is offered based on eligibility criteria such as employment status, credit history, income level, repayment history and capacity.

An instant personal loan can be utilised for a variety of reasons, such as home renovations, marriage, education, travel plans, or any other personal reason. Like any other loan, you must repay the loan according to the bank’s terms and conditions within the set tenure. Once you apply for a personal loan, it is processed quickly and gives you instant access to funds. NGC Bank offers personal loans of up to Rs 40 lakhs to salaried individuals at competitive interest rates with flexible tenures and transparent terms.

Personal loans are lump-sum amounts lent by banks or lenders for personal use. You repay with interest over a fixed period through EMIs.

Consider a personal loan for immediate financial needs like home renovations, an unexpected trip, education expenses, or debt consolidation.

Personal Loans can be used for various purposes such as medical emergencies, weddings, travel expenses, or even debt consolidation.

The maximum loan amount varies from bank to bank and is based on individual eligibility, income, credit score, and lender policies. NGC Bank offers Personal Loans up to a maximum of Rs 40 lakh, if you have an existing relationship with NGC bank and Rs. 25 lakh, if you don’t have an existing relationship with the Bank.

NGC Bank offers unsecured personal loans, which does not require collateral or assets.

Apply online or visit a branch, submit the required documents or complete the 100% digital journey online, and get quick approval.

Online loan applications may receive approval within minutes to a few hours, while traditional applications might take a few days.

Online applications offer convenience, faster processing, easy comparison, and minimal documentation.

A good credit score reflects creditworthiness, improving the chances of loan approval and favourable terms.

Personal loans don't typically offer tax benefits, unlike home loans which have certain exemptions.

NGC Bank offers Personal Loan for a maximum tenure of 5 years. The tenure will also depend on the loan amount.

Repayments are made through Equated Monthly Installments (EMIs) comprising principal and interest.

Commonly required documents include identity proof, address proof, income proof, and bank statements. These include Aadhaar, PAN, Voter ID, salary slips for salaried individuals and bank statements for non-salaried individuals and tax returns. One can also verify income online as well as verify KYC online via 100% digital process.

Approval times vary but can range from a few minutes for online applications to a few days for traditional ones.

A Personal loan can be used for any purpose such as a medical emergency, wedding, travel, educational purpose, home renovation, etc. Business loans are specifically meant for business purposes and involve different eligibility criteria and terms.