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Pre-Approved Personal Loan

Pre-approved personal loans offer the convenience of zero or minimum documentation, end-to-end digital process and instant disbursal. Apply for pre-approved personal loan offers from top banks and NBFCs curated based on your credit profile.

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Paisabazaar Exclusive Benefits

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Wide Choice

Curated offers from 30+ lenders

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Quick Disbursal

Money in your account instantly

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SmartMatch

Offers ranked according to eligibility

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Digital Process

Hassle-free & paperless

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Personal Loan EMI Calculator

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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 ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
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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Compare & Choose the Best Offer

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Pre-approved Offers with Instant Disbursals

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Know Your Chances of Approval

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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

What is a Pre-Approved Personal Loan

A pre-approved personal loan is an offer provided by a lender to select existing customers with a strong credit profile. Such loan offers are disbursed on the same day or within a few hours of the loan application.

  • Before offering this facility, banks and NBFCs conduct an initial credit assessment of their customers
  • Various factors are considered such as credit score, employment status, income, etc.
  • On Paisabazaar, you can easily check pre-approved offers from multiple partner lenders - all in one place, with an end-to-end digital process.

Pre-Approved Personal Loan Interest Rates

  • Pre-approved personal loan interest rates start from 9.99% on Paisabazaar and depends on the applicant’s credit profile.
  • Most banks and NBFCs provide preferential interest rates on pre-approved loans to their existing customers, but this does not guarantee the lowest rates.
  • It is important for you to compare personal loan interest rates from multiple lenders where you have existing accounts, loans, or credit cards.
  • This would help you get personal loans at the most favourable terms, rather than simply accepting the pre-approved offer.

Who is Eligible for a Pre-Approved Loan in India

Banks and NBFCs offer you a pre-approved personal loan primarily on the basis of your credit profile. Lenders usually consider your account balance and transaction pattern, recent salary credits, existing debt obligations, employment history, loan repayment history, etc., while offering the loan. Key factors for pre-approved loan eligibility include:

  • Credit Score: A higher credit score, usually 750 or above, is preferred by most lenders to provide pre-approved offers.
  • Income Stability: Less frequent job changes and consistent salary credits are an important consideration for pre-approved loan offers.
  • Credit History: Lenders prefer applicants with a clean credit history who have repaid or are repaying their loan EMIs and credit card dues on time.
  • Existing Relationship: Lenders are more likely to offer pre-approved loans to their existing customers with a strong relationship.

How a Pre-Approved Offer Works

Pre-approved offers are just ‘Invitations to Apply’. Receiving a pre-approved offer increases your chances of approval, but it does not guarantee final approval.

  • When you choose to proceed for a pre-approved offer, your application and supporting documents undergo a detailed review by the lender.
  • The review may involve additional checks based on the lender’s internal guidelines and policies.
  • A lender may reject or withdraw your pre-approved offer during the loan application processing if there are any adverse changes in your income, credit score, employment status, or other key financial factors.

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Processing Fees & Charges on Pre Approved Personal Loan

The processing fees for pre-approved personal loans are usually the same or lower than those for regular personal loans. In some cases, lenders may cap the processing fee, regardless of the loan size. Additionally, some lenders may waive the processing fee during special promotions or festive seasons.

Charges Description
Processing Fee 0.5% to 4% of the loan amount, capped by some lenders
Stamp Duty Charges As per actuals
Prepayment/Foreclosure Charges 2% – 5% on the principal outstanding for fixed-rate loans;

NIL for floating rate loans
Document Retrieval charges Usually around Rs. 500
Loan Cancellation Charges Usually around Rs. 3,000
Duplicate NOC Usually around Rs. 300-Rs. 500
Loan Statement Charges Up to Rs. 500 per statement
Repayment mode swap charges Around Rs. 500 per transaction
Documentation Charges Around Rs. 500
Cheque Bouncing or Failed Standing Instruction Charges Up to Rs. 500 – Rs. 750 per instance
Penal Charges – EMI overdue Usually 2% to 3% per month
GST Applicable to all processing fees and charges

Do Pre-Approved Loan Offers Hurt Your Credit Score?

  • Getting pre-approved personal loan offers do not impact your credit score, as you did not apply for the loan.
  • Once you accept the pre-approved offer, a hard inquiry is initiated which may lower your credit score temporarily.
  • You should not apply for multiple personal loans at once as it can impact your score.
  • Compare offers of multiple lenders on the Paisabazaar app or website and choose the one that suits your financial needs the best.

Benefits of a Pre-Approved Personal Loan

Higher Approval Chances

  • Pre-approved loans are offered to individuals who have already passed an initial screening by the lender.
  • Your chances of approval are generally higher compared to applying for a new personal loan from scratch.

Faster Processing

  • Since the lender has already completed the initial evaluation, the processing time for a pre-approved loan is significantly faster.
  • Once you accept the offer, the final approval and disbursal process is streamlined, helping you access funds quickly.

Minimal to Zero Documentation

  • Lenders usually do not require fresh documentation when processing pre-approved personal loans, as they already have the necessary KYC documents (proof of identity, address, and income) for their existing customers.
  • This minimizes paperwork and speeds up the loan approval process for those in urgent need of funds.

More Favourable Terms

  • Lenders offering pre-approved loans may provide better terms, such as a lower interest rate, preferred tenure, etc.
  • You may eventually get loans at lower overall cost of credit.

Things to Check Before Accepting a Pre-Approved Offer

Compare Multiple Offers: Evaluate offers from different lenders at Paisabazaar to ensure you’re getting the best pre-approved personal loan offer.

Consider Loan Terms: Carefully review the loan tenure, EMI amount, and prepayment conditions to ensure they conform to your repayment capacity.

Check for Charges: Know about processing fees, prepayment penalties, or late payment charges that could affect the total cost of the loan.

Pre-Approved Personal Loans vs. Regular Personal Loans

Unlike regular personal loans, where the borrower initiates the application, a pre-approved loan is proactively offered by the lender. Check below the differences:

Feature Pre-Approved Personal Loan Regular Personal Loan
Approval Time Usually on the same day or within a few hours Usually 2 to 4 days, depends on the lender
Documentation Minimal to no documentation, as the lender already has your information Submitting various documents like bank statements, income proof and KYC documents
Interest Rates Lenders may offer preferential interest rates to those having strong credit profiles Subject to eligibility criteria
Eligibility Criteria Offered only to those who already meet the lender’s predefined criteria You have to meet the lender’s eligibility criteria, such as income, credit score, and more

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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 BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankTata CapitalTata Capital
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FAQs

A pre-approved personal loan is an offer made by a lender, usually to existing customers, after analysing various aspects of their credit profile. The lender assesses your creditworthiness, such as credit history, income, etc. before extending this offer, making the application process quicker and more streamlined.

You can check your eligibility for a pre-approved loan at Paisabazaar in the Personal Loans section. You are likely to receive multiple pre-approved offers when you have a very good credit history.

Your credit score will not be affected if you choose not to accept a pre-approved loan. Your credit score may get affected temporarily only when you proceed with the loan.

Pre-approved loans usually have lower processing fees and quicker disbursal. Some lenders may also waive off additional fees, such as late payment fees, prepayment charges, or other service charges. You should verify all terms before accepting a pre-approved offer.

The tenure for pre-approved personal loans usually ranges from 1 to 5 years, though some lenders may offer longer tenures depending on the loan amount and your repayment capacity.

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What our customers say

Personal Loan

Maine Paisabazaar se personal loan apply kiya or Jaldi approval bhi mil gaya aur zyada documents bhi nahi lage.

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Abbaz AhmedApr 10, 2025

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I was looking for Personal loan and came across this platform. I applied online and received multiple loan offers instantly and got a pre-approved offer, and the amount was disbursed within 48 hours.

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I took a personal loan from Bajaj Finserv via Paisabazaar, and it was easy! Paisabazaar made it smooth and simple. The whole process was quick and hassle-free!

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Paisabazaar se pre-approved personal loan jadi milgya.. Or 48 hours mai paisa account mai agya.. Team is very helpful

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Good experience with Paisabazaar! Loan approval hua within 48 hours aur rates bhi kaafi reasonable the.

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Last updated: 10 September, 2025

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