Long-Term Loans

Wide Choice

Quick Disbursal

SmartMatch

Digital Process

Wide Choice

Quick Disbursal

SmartMatch

Digital Process

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Google Play Store

4.5_/5

15.5L Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

Find Best Personal Loan Offers

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

Axis Bank

Low Processing fee

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

Kotak Mahindra Bank

Lowest Income requirement100% Digital Process*

Max Loan Amt.Upto ₹25L

Rate of Interest9.98% - 17.2%

Tenure upto1-5 Years

Processing Fee1.1% - 1.5%

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Why Choose Paisabazaar?

Compare & Choose the Best Offer

Pre-approved Offers with Instant Disbursals

Know Your Chances of Approval

End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Features of Long Term Personal Loans

Long term personal loan interest rates usually start from 9.98% p.a. onwards. However, some public sector banks might offer long term personal loans at lower interest rates. These loans do not come with end-usage restrictions except for speculation. The applicants are not required to submit any collateral or security. Some lenders also offer pre-approved instant personal loans to their select customers having good credit profile.

Advantages of Long Term Personal Loans

The longer repayment tenure reduces the EMI for the borrowers. This helps the borrower to continue with their expenses, both unavoidable as well as discretionary, and investments for their long term financial goals

Most lenders usually prefer the personal loan applicants to have EMI/NMI (Net Monthly Income) ratio within 55-60%. Both existing EMIs as well as the EMI of the proposed personal loan is considered while calculating this ratio. Thus, reduced EMI due to longer tenure would increase the chances of availing personal loan for the applicant.

Reduced EMI/NMI ratio due to lower EMIs would increase the chances of timely EMI repayments. Timely loan repayments would help in building/improving the credit score of the borrower and thereby, improve their future loan and credit card eligibility.

Lower EMI/NMI ratio increases EMI affordability, thereby, helping them to avail higher loan amount.

As most lenders offer personal loan tenures between 1 year and 5 years, applicants opting for long term personal loans have a wider range of lenders to choose from.

Disadvantages of Long Term Personal Loans

The applicants availing long term personal loans have to incur higher interest cost over the loan tenure.

Long term personal loans would block the borrowers’ EMI/NMI ratio for longer period, thereby impacting their eligibility for additional loans for longer period.

The best way to reduce the adverse impacts of long term personal loans is to make prepayments (part/full), whenever possible. Making prepayments would help in reducing the overall interest cost and increase your eligibility for availing other loans during the tenure of your personal loan.

Eligibility Criteria for Applicants availing Long Term Personal Loans

The eligibility criteria for long term personal loans can vary across lenders. However, the undermentioned list would give you a fair idea about personal loan eligibility criteria required for availing long term personal loans.

Minimum age: Usually 21 years

Minimum monthly income: Rs 15,000 or above (for most lenders)

The applicants with credit scores of 750 and above usually have higher chances of availing personal loans at lower interest rates. However, some lenders might also offer longer term personal loans to applicants with lower credit scores at higher interest rates.

Salaried individuals employed with government or public sector companies have higher chances of availing long term personal loans. They are followed by salaried individuals working with MNCs or reputed private sector organizations.

Self-employed individuals are required to have business vintage of at least 3 years

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All Your Needs

Documents Required for Loan Application

ID Proof- PAN Card/Voter ID/Aadhar Card/Driving License/Passport

Address Proof- Aadhar card/electricity bills/gas connection bills/Voter ID/Driving License/Passport/copy of ration card

Form 16/ITR for past 3 years

Salary slips for past 3 months

Bank account statement for last 6 months

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

HDFC BANK Axis Bank Kotak Mahindra Bank ICICI Bank Federal Bank IDFC First Bank Indusind Bank RBL Bank Tata Capital

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What our customers say
Loan from Paisabazaar was actually paperless
I always used to think that the paperless loan is a myth. But on Paisabazaar, I applied for the pre approved loan from IDFC Bank and all documentation was already done. I just filled the form, did kyc and my loan was approved and disbuursed one the same day.
Tanmay BorkatakiDec 12, 2025
Best place for a small loan
I have take loan of 60-70000 three times from paisabazaar in 4 years and every time it has been a very good experience. They provide the loan without failure and have also helped me improve my cibil.
Aridaman Singh ParhichaDec 11, 2025
My loan got approved immediately
I wanted a loan and I was able to get it approved through Paisabazaar. It was instantaneous and I got the amount in my account in 2 days only.
Priyam Sarkar MajumdarDec 10, 2025
I get loan from here
I get loan from Paisabazaar here and it is very quickly given to me.
Bilal ZaidiDec 9, 2025
Excellant EMI calculator and expert assistance available
The EMI calculator helped me choose the right repayment plan. Clear guidance at every step made the loan process really easy.
Mohit YadavDec 3, 2025
Fully Digital Process for Real.
Loved the real-time loan status updates.Everything was handled online — didn’t have to visit any branch.
Gautam BakshiDec 3, 2025
Lower Rate than My Own Bank
Got a lower interest rate than my bank was offering.Smooth digital verification and quick disbursal.
Shivani SuryaDec 3, 2025
Pre-approved offers with quick approval
I liked how Paisabazaar showed pre-approved offers without affecting my credit score. Customer support was prompt and helped me close the loan quickly.
Suraj VermaDec 3, 2025
Same day approval. wow.
The loan was approved the same day — super smooth and transparent process.
Shiv KumarDec 3, 2025
Best Loan Terms on My Credit Score in the Market
Paisabazaar helped me get a loan even with a borderline credit score. Really impressed with how smooth everything was.
SunnyDec 3, 2025
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