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.

RBI Repo Rate Cuts 2026: What It Means for Your Personal Loan

The Reserve Bank of India (RBI) has cut the repo rate by a total of 1.25% (125 basis points) between February 2025 and February 2026. The repo rate now stands at 5.25%, down from 6.50%. But here is the real question — did your loan get cheaper?

Timeline of the Rate Cuts

Date	Repo Rate	Change
Feb 2025	6.50% → 6.25%	-0.25%
Apr 2025	6.25% → 6.00%	-0.25%
Aug 2025	6.00% → 5.75%	-0.25%
Dec 2025	5.75% → 5.50%	-0.25%
Feb 2026	5.50% → 5.25%	-0.25%

Did Banks Pass On the Full Benefit?

Not fully. According to a Bank of Baroda report published on May 5, 2026, banks passed on only about 0.93% (93 bps) of the 1.25% rate cut to new borrowers. The rest was kept by banks to protect their profits.

Why? Because while the RBI cut the repo rate, banks were still paying high interest on old fixed deposits. To balance this, they did not reduce loan rates by the full amount.

What Does This Mean for Your Personal Loan?

New loans are cheaper — rates have come down by nearly 1% compared to early 2025
Personal loans still cost 10-16% — unsecured loans remain expensive because banks see them as risky
Foreign banks cut more — they passed on more of the benefit than public sector banks
Housing and MSME loans benefited the most — estimated ₹19,000 crore saved by borrowers across India

Should You Apply Now?

Yes. Rates are at their lowest point in years. The RBI has paused further cuts, so this may be the best time to lock in a lower rate. Use a free eligibility check to find out which bank will give you the best rate before you apply.

See How the Rate Cut Affects Your EMI

A 1% lower interest rate on a ₹5 lakh personal loan can save you over ₹8,000 in interest over 3 years. Use the PL-NANBAN EMI calculator to see exactly how much the repo rate cut saves you on your loan.

Sources

Bank of Baroda Research Report — Economic Times, May 5, 2026
RBI Monetary Policy Committee press releases (Feb 2025 – Feb 2026)

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