Personal Loan
Wedding, medical, travel or a fresh start. Quick, collateral-free money for life’s big moments.
- Starting rate
- 10.49% p.a.
- Amount
- ₹50,000 – ₹25,00,000
- Tenure
- 1 – 5 years
- Processing fee
- Up to 1.5%
- No collateral or guarantor
- Decision in 2–3 working days
- Part-prepay after 6 EMIs
- Flexible tenure up to 5 years
- Indian resident aged 21–60
- Net monthly income of ₹25,000 or more
- At least 1 year of total work experience
- CIBIL score of 700 or above
- Aadhaar card (image upload)
- PAN card
- Last 3 salary slips
- Last 6 months’ bank statements
| Charge | Amount |
|---|---|
| Processing fee | Up to 1.5% + GST |
| Foreclosure (after 12 EMIs) | 3% of outstanding |
| Late payment | 2% per month on overdue |
How it works with Loan Buddy
- RegisterName, email, mobile. Verify by email.
- ChatAnswer simple questions in English or हिन्दी.
- ReviewCheck the filled form, add your documents.
- DecisionA loan officer reviews and updates you.
04 — EMI calculator
Know your EMI before you ask
Move the sliders. Amounts are shown the Indian way: lakh and crore.
FAQ
Quick answers
What is Loan Buddy?
Loan Buddy is RayBank’s AI loan assistant. You chat, it fills your application, and you review before submitting. You can switch to the regular form any time.
Who can apply, and what documents do I need?
Salaried and self-employed Indian residents aged 21–65. You’ll need an Aadhaar photo, PAN, and income proof. Loan Buddy tells you exactly what applies to your loan type.
Is my Aadhaar number safe?
Your Aadhaar number is stored encrypted and is shown only as XXXX XXXX 1234 on screen, including to our staff.
Can I repay my loan early?
Yes. Prepayment rules depend on the loan type. Ask Loan Buddy for the policy and it will quote the source article.
Does Loan Buddy approve my loan?
No. Loan Buddy collects and checks your details. A RayBank loan officer reviews every application and makes the decision.