Personal Loan
Your personal loan does not require collateral, allowing you more flexibility to take control of your situation and address urgent costs, medical expenses, travel plans, weddings, education costs, or any personal reason you need money for. Personal loans are easy to document and enable you to gain access to money immediately. They also provide you with flexible options to pay back the loan.
Applying for a personal loan with Maxima Loanz allows you to get great interest rates and stress-free loans fits to your financial situation.
What documents are required to apply?
Typically: Aadhaar/PAN, address proof, salary slips or IT returns, bank statements, and a passport-size photo. Requirements vary by lender.
What is the interest rate for a personal loan?
Rates depend on credit score, income, employer profile, loan amount, and tenure. Good credit score = lower interest.
Can I prepay or foreclose the loan?
Yes, most lenders allow prepayment, but some may charge foreclosure/prepayment fees depending on loan terms.
How long does loan approval take?
Approval can take a few hours to 2–3 days depending on documents, verification, and your profile. Pre-approved offers are faster.
What is a Personal Loan?
The best way to describe a personal loan is as an unsecured loan that enables you to borrow money without putting any of your possessions up for collateral. The amount loaned is to be paid back in equal portions during every month in what are known as EMIs, for a duration of time of your choosing. It is this flexibility in the usage of funds that makes personal loans that makes people request it, and it is also the reason for the need of documentation to be at a minimum.
- Medical emergencies
- Weddings or family events
- Travel or vacations
- Education expenses
- Home renovations
- Debt consolidation
How Can Maxima Loanz Team Help You to Reach Your Goals
Paperless and Quick Application
With Maxima Loanz, you can apply for a personal loan with minimal documentation through a mostly digital process, making the experience convenient and fast. Apply Anytime, Anywhere Instantly
Smart Matching With Lenders
Maxima Loanz uses a technology-driven eligibility engine to match your credit profile with the most suitable lenders. This helps improve your chances of getting approved at competitive terms.
Tailored Loan Options
Since Maxima Loanz works with a large network of bank and NBFC partners, you get multiple loan offers to compare — so you can pick the best interest rate, loan amount, or repayment tenure for your financial situation.
Hassle-Free Support
From application to disbursement, their team guides you through each step, ensuring a clear, transparent, and stress-free process. Their goal is to simplify borrowing and help you get funds when you need them most
Types of Personal Loan
Medial Emergency Loan
The funds to cover unexpected medical costs and hospital visits are provided in the form of loans that are known as medical emergency loans.
Instant Personal Loans
If you need money quickly, an instant personal loan is your best option. They are approved in record time.
Education Personal Loan
This loan funds short-term education expenses, including training programs and certifications.
Wedding Loan
Costs associated with weddings, like venue reservations, receptions, and for decoration, financial assistance is provided in the form of a wedding loan.
Eligibility Criteria for Personal Loan
Though criteria will vary, most lenders will take into account:
- Age between 21 and 60 years
- A steady monthly salary
- Stability in a job/business
- Existence of a credit score greater than 700
- Good history to pay back loans
- Residency in India
A credit score above 700 increases your chances of getting approved, and having a strong credit profile helps in getting better interest rates for your personal loan.
Documents Required for Personal Loan
1. Proof of Identity
- Aadhaar Card
- PAN Card
- Passport / Driving License / Voter ID
2. Proof of Address
- Utility bills
- Aadhaar Card
- Passport/ Rental agreement
3. Documents that prove your income (Salaried Applicants)
- Last 3 salary slips
- Last 6 months of bank statements
- Form 16 or ITR
4. Documents that prove your income (Self-Employed Applicants)
- Income Tax Returns (2–3 years)
- Financial Statement for the Business
- Last 6-12 months of bank statements
How to Apply for a Personal Loan
Step 1: Check Eligibility
You should examine your income, credit score, and your existing loans.
Step 2: Choose Loan Amount & Tenure
Pick a loan amount and repayment term that aligns with your financial situation.
Step 3: Application Submission
This step involves completing the application form (online or offline) and submitting the necessary documents.
Step 4: Approval and Verification
Your details and profile are reviewed and verified by the lender.
Step 5: Disbursement of Loans
Your loan will be deposited into your account as soon as it receives approval.
