Personal Loan
Features of Personal Loan
Offers for New Customers
Maximaloans presents three unique variants of personal loans, offering financing of up to Rs. 40 Lakh with flexible tenures of up to 84 months. Here are the key features:
No Guarantor / Collateral:
Our personal loans are unsecured, requiring no collateral or guarantor.
No Hidden Charges:
We believe in transparency, ensuring there are no hidden fees or charges.
Benefits of our Personal Loan
A personal loan from Maximaloans offers versatile financial solutions without the need for collateral. Here's how it can benefit you:
Debt Consolidation:
Merge multiple debts into a single loan with a lower interest rate, simplifying repayment and potentially saving on interest costs.
Home Renovation:
Enhance your living space by funding home renovation projects, increasing your property's value and comfort.
Medical Expenses:
Cover unexpected medical costs, ensuring you or your loved ones receive necessary treatment without financial strain.
Emergency Expenses:
Access funds quickly for unforeseen expenses like medical emergencies or urgent car repairs, helping you navigate financial challenges with ease.
Personal Loan Eligibility and Documents
To apply for a personal loan with Maximaloans, you need to meet certain eligibility criteria and provide specific documents. Here's what you need:
Eligibility Criteria:
Age: 21 to 60 years
Credit Score: Above 650
Debt-to-Income Ratio
Employment Stability
Good Credit History
Indian Citizenship
Minimum net monthly income: Rs. 15,000 for both salaried and self-employed individuals; minimum yearly transactions of Rs. 20 lakhs for self-employed
Identity Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Address Proof: Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Utility Bills
Age Proof: Any government-issued ID
Income Proof: Bank statements, Salary Slips
Employment Proof: Employment Certificate, Office Address Proof
GST or VAT Registration (for Self-employed)
Photographs: Passport-size
Business Proof: Business registration documents, Partnership Deed, MOA, AOA
Income Tax Returns: Past 2-3 years
Documents Required:
EMI Calculator for Personal Loan
Use LoanX's EMI calculator to estimate your monthly installments, helping you plan your finances effectively and compare different loan options.
Follow these steps to calculate EMI:
Enter loan amount, interest rate, tenure.
Click Calculate.
View EMI, total interest, repayment.
Adjust tenure if needed.
Consider extra costs.
Check budget compatibility.
Confirm with the lender before finalizing.
Fees and Charges for Personal Loan
Loan processing fees, stamp duty charges, legal fees, and other charges vary based on the lender and case specifics. Refer to our fee structure for more information.
Maximaloans proved to be a lifeline during a challenging period when I needed urgent funds for my brother's medical treatment amidst the COVID-19 pandemic. Despite facing rejection from my bank, Maximaloans came through, and I received the personal loan from Standard Chartered Bank within three days. Thank you, Maximaloans, for your swift assistance.
Samantha Patel
I'm thoroughly impressed with Maximaloans for assisting me in securing a personal loan for my wedding. The negotiation with the bank regarding interest rates and terms was commendable. I will certainly recommend Maximaloans to my acquaintances for their loan needs.
David Singh
Maximaloans facilitated my personal loan application, which I utilized to settle my credit card debts. This decision helped me save a considerable amount, considering the high interest rates on credit cards compared to personal loans. Thank you, Maximaloans, for providing financial relief when needed.
Emily Thomas
The loan comparison table provided by Maximaloans on their website proved invaluable in my decision-making process. It led me to choose YES Bank for my personal loan application, perfectly aligning with my requirements. Kudos to Maximaloans for simplifying the loan selection process.
Jonathan Miller
I'm thoroughly impressed with Maximaloans for assisting me in securing a personal loan for my wedding. The negotiation with the bank regarding interest rates and terms was commendable. I will certainly recommend Maximaloans to my acquaintances for their loan needs.
David Singh
Maximaloans proved to be a lifeline during a challenging period when I needed urgent funds for my brother's medical treatment amidst the COVID-19 pandemic. Despite facing rejection from my bank, Maximaloans came through, and I received the personal loan from Standard Chartered Bank within three days. Thank you, Maximaloans, for your swift assistance.
Samantha Patel
The loan comparison table provided by Maximaloans on their website proved invaluable in my decision-making process. It led me to choose YES Bank for my personal loan application, perfectly aligning with my requirements. Kudos to Maximaloans for simplifying the loan selection process.
Jonathan Miller
Maximaloans facilitated my personal loan application, which I utilized to settle my credit card debts. This decision helped me save a considerable amount, considering the high interest rates on credit cards compared to personal loans. Thank you, Maximaloans, for providing financial relief when needed.
Emily Thomas
Maximaloans Personal Loan Reviews
Check out what our customers have to say about their experiences with Maximaloans:
Maximaloans Personal Loan FAQs
The minimum credit score required for a personal loan approval varies among lenders and depends on factors like the loan amount, term, income, and employment history. While some lenders accept scores around 650, others may seek scores of 700 or higher for favorable terms.
Maximaloans typically requires a minimum monthly income of Rs. 15,000 for personal loan eligibility. However, specific requirements may vary among lenders.
Yes, pensioners with accounts at leading Indian banks may qualify for personal loans through Maximaloans. Specialized loans for retirees are available, with eligibility criteria tailored accordingly.
Students may be eligible for personal loans through Maximaloans, provided they meet certain criteria. Having a steady income or a co-signer can enhance eligibility.
Yes, you can still apply for a personal loan through Maximaloans even if you have an existing home loan. However, your current financial obligations, including your mortgage, will be considered during the assessment process.
Yes, Maximaloans considers alternative income documentation, such as income certificates, bank statements, Income Tax Returns (ITR), or Form 16, for personal loan applications.
Yes, Maximaloans allows personal loans to be used for marriage expenses. However, borrowers should assess their repayment capability to avoid defaulting on the loan.
To calculate your EMI with Maximaloans, use our EMI calculator by inputting the loan amount, tenure, and interest rate. Understanding your EMI helps you plan your budget effectively.
Yes, borrowers can negotiate the interest rate for personal loans with Maximaloans. Factors such as credit score and financial standing influence the negotiation outcome. Comparing offers and leveraging a good credit score can aid in securing a favorable rate.