What is the maximum loan amount I can get?

Through our personal loan services, you can apply for loans up to Rs. 50 Lakhs depending on your income, credit profile, and the lending bank policies.

Will checking eligibility affect my CIBIL score?

No. Our initial eligibility review does not impact your CIBIL score. We perform an expert assessment first, and only when you proceed with a bank application will they run a formal credit check.

How long does the approval process take?

Our personal loan services typically provide approval within 3 business days after your documents are verified.

Which banks do you work with?

We partner with 10-11 leading banks and NBFCs in India to offer a wide range of personal loan options.

What documents do I need to apply?

Typically, you will need identity proof, address proof, income proof (salary slips or IT returns), and bank statements.

Is there any charge for the eligibility check?

Our initial eligibility assessment is completely free with no hidden costs or surprise fees.

Home Loan vs Personal Loan — Which Is Right for You?

Choosing between a home loan and a personal loan can be confusing — especially when you need funds for a large expense. Both have their place, but they serve different purposes. Here is a clear breakdown to help you decide.

What Is a Home Loan?

A home loan is a secured loan used specifically to buy or construct a house. The property itself serves as collateral. Because the lender has security, home loans offer lower interest rates — typically 8-10% depending on your profile and the lender.

What Is a Personal Loan?

A personal loan is an unsecured loan that can be used for any purpose — medical emergencies, wedding expenses, home renovation, debt consolidation, or travel. Since there is no collateral, interest rates are higher, typically 11-24%.

Key Differences at a Glance

Feature	Home Loan	Personal Loan
Interest Rate	8-10%	11-24%
Loan Amount	Up to 80-90% of property value	Up to Rs. 50 Lakhs
Tenure	Up to 30 years	Up to 5-7 years
Collateral	Required (the property)	None
Tax Benefits	Up to Rs. 1.5L under Section 80C + Rs. 2L under Section 24	None
Approval Time	7-30 days	1-3 days

When to Choose a Home Loan

Choose a home loan if you are buying or constructing a house. The lower interest rate and long tenure make monthly payments manageable, and the tax benefits reduce your effective cost significantly. Home loans work well when you plan to stay in the property long-term.

When to Choose a Personal Loan

Choose a personal loan when you need funds quickly for a purpose that is not related to buying a house. Common uses include medical emergencies, weddings, home renovation (where the property is already owned), debt consolidation, or education expenses. The faster approval process — often within 3 days — makes personal loans ideal for time-sensitive needs.

Can You Use a Personal Loan for Home Renovation?

Yes. If you already own your home and need funds for renovation, a personal loan is often a better choice than refinancing your home loan. The application is faster, there is no collateral paperwork, and you are not extending your home loan tenure. Just compare interest rates and processing fees before deciding. Use the EMI calculator to compare the monthly payments for both options.

Which Loan Should You Check First?

Not sure which one fits your situation? Use PL-NANBAN's eligibility check to see what personal loan amounts and rates you qualify for. The check is free and does not affect your CIBIL score.

Check your personal loan eligibility — free, no CIBIL impact. Check now →