Long-Term Loans

Personal loans having tenures of more than 1 year are usually considered as long term personal loans. However, some lenders...

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Google Play Store

4.5_/5

15.5L Reviews

5.7cr+Satisfied Customers

65+Lending Partners

₹65k Cr+Loans Disbursed

Wide Choice

Curated offers from 30+ lenders

Quick Disbursal

Money in your account instantly

SmartMatch

Offers ranked according to eligibility

Digital Process

Hassle-free & paperless

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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

ICICI Bank

100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest11% - 13%

Tenure upto1-5 Years

Processing FeeUpto 2%

Axis Bank

Low Processing fee

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

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How Can I Apply for a Personal Loan Online?

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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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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

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What our customers say
My Trust in Paisabazaar has Increased
I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.
Lalit MaviFeb 12, 2026
Best Place for Taking Loans
I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service
Kokil BarnwalFeb 12, 2026
Apne higher education ke liye loan liya tha
Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.
Puja DanuJan 22, 2026
Sabse jada helpful log the yaha
Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.
Anuradha GuptaJan 21, 2026
Best Advisor for Personal Loan
I would like to share my feedback regarding my recent interaction with Mr. Vipin Singh (employee id EW12967) After discussing the financial matters with him, I felt very satisfied with his approach and professionalism. He explained everything clearly, handled the discussion patiently, and ensured that all concerns were addressed effectively. His communication skills, positive attitude, and dedication towards his responsibilities truly reflect his commitment to the organization.
20th Jan 2026Jan 20, 2026
Meri shaddi thi
Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.
Sadia KhatunJan 15, 2026
Perfect for Loan Solutions
Recently I had a conversation with Mr. Harsh ji. Thanks Mr. Harsh ji for providing a better solution in a very short period of time with very nice behaviour. Thank You very much.
Amit ChahalJan 15, 2026
Travel ke liye personal loan liya tha
Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha
Tarini RoyJan 14, 2026
Easy personal loan available
Took personal loan. Good experience.
Ruchika TiwariJan 14, 2026
Stress-free Laon Borrowing Process
There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.
Abhishek ThakuraJan 14, 2026
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Written By
Vandana Punj

Reviewed By
Shamik Ghosh

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