Financial Assistance
For A Better Life

Personal Loan

Personal Loans are intended to help meet any urgent personal financial needs of individuals, (Applicants other than individuals do not fall under this product category) such as renovating the home, marriage-related expenses, children’s education, purchasing household items, gadgets, or home appliances, meeting unexpected medical expenses or any other emergencies, acquiring properties, etc.

Loans will be granted to individuals only after LuLu Finserv is satisfied about the credit worthiness, integrity, local standing and repayment capacity of each borrower.

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Personal Loan EMI Calculator

0 Lac 10 Lac
1% 30%
1 Month 180 Months
EMI Details

Monthly EMI

Principal Amount

Interest Amount

Total Amount Payable

Get to know more about
Personal Loan

    Target Segment
    Salaried Employees / Professional
    • Private sector employees
    • Public sector employees
    • Govt. Employees
    Persons having regular source of income
    • Rental Income.
    Self Employed personal
    • Entrepreneurs
    • CA / CS / ICWAI / CMA / CFP / CH.E / Dr / Adv / etc.
    Employees of LFS & Group Companies
    • We actively collaborate and leverage on each other’s capabilities.

    How To Apply

    Submit Aadhar Card / PAN Card

    We will check your Cibil Score

    Submit Income Proof

    We will check your eligibility based on Income / Cibil Score

    Receive Money

    Receive your money in 1-2 business
    days after verification


    Factors That Affect Personal Loan Eligibility

    Nationality icon

    Should be a Citizen of India.

    Applicant age icon
    Applicant age

    Minimum Age 21. Maximum Age at the time of application is 50 years for Private sector employees / Professionals and 55 for Govt. and Public sector under-takings.

    Co applicant icon
    Co applicant

    Co applicant is not mandatory for loans up to Rs. 1 L but the credit manager can, for mitigating the credit risk, add co applicant if it fits the application.

    Employee type icon
    Employee type

    This policy applies to all full-time employees who are on the regular / permanent rolls of the Company and have completed two years of unblemished service, regardless of rank and position.

    Salary deductions icon
    Salary deductions

    The total deductions from the monthly salary, including the instalment of the loan availed, shall not exceed 60% (FOIR)of the net take home salary.

    Salary period icon
    Salary period

    Advance taken from the company, as part of salary advance, which is not exceeding a period of six months, can be excluded from calculating the FOIR.

    Loan history icon
    Loan history

    The track should be clean and No DPD above 30+ shall be considered for granting loan under this product.

    Min salary icon
    Min salary

    Minimum Net Monthly salary should be of Rs.15000/-.

    Min salary for pensioners icon
    Min salary for pensioners

    Minimum monthly pension should be Rs. 20000 in the case of pensioners.

    Self-employed icon

    Self-employed individuals should have a minimum vintage of 2-year.


    The act of paying back money previously borrowed from a lender

    The repayment of Personal Loan-EMI should be equal EMI of the fixed tenure at the time of agreement. No repayment holidays.

    Autopay icon

    Can make use of internet banking to set up autopay for your EMI payments.

    Standing Instructions icon
    Standing Instructions

    Can set up standing instructions using NACH mandate.

    Draft / Cheque icon
    Draft / Cheque

    EMI payments can also be made via drafts or post-dated cheque.

    Online Transfer icon
    Online Transfer

    EMI payments can also be made online using NEFT, RTGS, IMPS payments.

    Loan Amount

    Rs. 5000/-


    to be decided periodically

    Loan Tenor

    12 months


    60 Months





    Co-Applicant / Guarantor

    Co-applicant Mandatory for loans above Rs. 1 L. Spouse / Family Member / Co-worker can be a coapplicant / Guarantor

    Rate of Interest

    To be decided by the Committee
    Interest type: Fixed

    Processing Fee

    3% + GST (Minimum Rs. 300/-)

    Other Charges
    1. Late Payment fee: 2% month (24% per annum) for the defaulted amount for the defaulted period.
    2. Pre-closure charges: 4% of principal outstanding
    3. Penalty for cheque / NACH bounce: Rs. 500+ GST
    4. Change of Bank Account: Rs. 400 + GST

    Disbursement to the Customer bank account given at the time of application. No disbursement is allowed to third party bank account. It is not mandatory to disburse the amount to the salary credited account. Can disburse to any bank account in the name of applicant.

    Pre-sanction inspection

    Field visit required if applicant not staying in the address mentioned in Aadhar or staying in a rented house.


    CLI shall be insisted

    Pre-sanction documents
    1. Loan application
    2. KYC documents (AADHAAR mandatory)
    3. Copy of ID card issued by Employer.
    4. Professional membership Proof (ID Card or Membership Certificate.
    5. Identity Proof: Aadhaar Card / PAN Card / Driving License / Voter’s ID / Passport
    6. Address Proof: Aadhaar Card/ Passport / Bank Account Statement / Lease / Property purchase Agreement / Utility Bill (not more than 3 months old) / Driving License

    Income documents:

    1. Salaried – Latest form 16, 3 months' pay slip / Bank account statement for 6 months into which salary credited, Salary certificate
    2. Self Employed / Non-Salaried- Last 2 years ITR (with minimum 6 months gap between 2 filings), 6 months account statement with a monthly credit of Rs. 15K. Business Proof (for self-employed applicants): GST Registration and Filing Documents / Partnership Deed / Certificate of Practice / MOA & AOA / Shop Act License.
    3. In the case of pensioners: Pension book, Pensioner’s ID Card, and Bank account statement showing monthly pension credit
    Loan Documentation

    Loan agreement, DPN
    2 Security cheques- and NACH

    Delegation for sanction

    To be decided periodically

    General guidelines
    1. Customer can either apply for a personal loan online through the LFS website or visiting our branch office by submitting a duly-filled loan application form along with the necessary documents.
    2. Cibil Report / Equifax Report / CRIF Highmark reports to be generated in all cases. (Cibil+ Any one of the others)
    3. Repayment capacity to be calculated using the FOIR Method by taking into the monthly obligations. Maximum FOIR 60% to be insisted.

    Age deviation, Cibil Score Deviation, and waiver of insurance shall be within the delegation of Head-Credit & Risk.

    Special conditions applicable to LFS/Group Company Staff
    1. Loan amount shall be restricted up to five times of the monthly Net salary of the employee, subject to compliance of FOIR norms
    2. This policy applies to all full-time employees who are on the regular / permanent rolls of the Company / Group company who have completed two years unblemished service regardless of rank and position.
    3. The total deductions from the monthly salary including the instalment of the staff loan availed shall not exceed 60% of the net take home salary.
    4. At the time of applying for advance, there shall not be any loan / advance pending in the name of the applicant. Where there is outstanding balance against advance already granted, as a very special case and purely on merits, fresh loan will be granted but the amount remaining after adjusting the outstanding balance against existing loan / advance will only be paid.
    5. There should be good credit score of above 650 (CIBIL)
    6. There shall be minimum 3 years of service left in the Company for retirement.
    7. Repayment in 60 monthly instalments through salary deduction. (Deferring of instalments is not permitted unless approved by competent authority in special circumstances such as Loss of Pay due to long leave on account of accident / sickness and any genuine legitimate reasons).
    8. The applicant shall furnish an Irrevocable Letter of Authority in favour of the Company to deduct monthly instalments of the loan from the salary and also adjust any other payments / dues payable towards monthly instalments / repayment of the loan.
    9. The employee shall in the event of his / her leaving the service of the Company either by resignation / retirement / termination during the currency of the loan period full repay / settle the outstanding balance if any before being relieved.
    10. The applicant shall also authorize the Company to adjust other benefits including permissible terminal benefits, bonus, other payments due and payable to him / her against balance outstanding if any and also furnish an undertaking to repay / settle fully such balance advance amount immediately on leaving.
    11. If the employee leaves the service of the Company without settling the dues, compounding interest calculated @ 22% will be levied on the balance amount due to the Company instead of the normal interest.
    12. The employee will be relieved from service only after settling the loan account fully and satisfactorily.
    13. The applicant’s Spouse / Parent shall join as co-applicant if the loan amount is above Rs. 1 L
    Pre-approved personal loans

    This is a special category of personal loans, also known as instant personal loans offered to existing Gold Loan customers with minimal to no documentation and quick disbursal of the loan amount, subject to noting of lien on the gold pledged.

    Balance Transfer

    Personal loan balance transfer is the process by which the principal outstanding of an existing loan with another lender is transferred to us. This is permitted within the above parameters

    Personal Loan Top up

    Top up of personal loan is permitted subject to compliance of the overall norms of the scheme.


    What Our Customers Says

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    Transparency and the right financial assistance are the key factors for me in choosing LuLu Finserv. The branch staff rightly helps you choose the right scheme based on your financial requirements.

    George Facister Image
    George Facister


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    LuLu Finserv is one of the best customer-centric and service-oriented NBFCs in the region, and I would recommend that everyone confidently avail of their services.

    Lekhakumari Image


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    The easy loan process and quick disbursal of funds is the best part about LuLu Finserv.

    Nithin P.P Image
    Nithin P.P


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    I am happy to say that LuLu Finserv has been a great support during any urgent financial need. The genuine customer service and choice of lending schemes make it the right place for all.

    Rajesh P Image
    Rajesh P


    Frequently Asked Questions

    What are the Top Features of Lulu Finserv Personal Loan?
    • Collateral-free
    • Multi-purpose usage
    • Competitive  interest rate & charges
    • Speedy approval
    • Instant disbursal
    • Zero hidden charges
    • Flexible repayment plans
    • Easy-to-use personal loan EMI calculator
    How to decide on the right personal loan amount?

    To choose the ideal personal loan amount, consider your needs for finance. While you can take a loan of a slightly higher amount to address any unexpected costs, don’t overborrow or under borrow. Both of these moves fail to help you achieve your objectives. Instead, you can consider this expert advice: ensure your personal loan EMIs don’t amount to more than 10-20% of your monthly income. If you have other existing debt, ensure your total EMIs don’t cross more than 60% of your income. The best way to plan a personal loan is by assessing your financial needs and calculating the amount you require. Then use the personal loan EMI calculator to check various EMI amounts you get based on different tenors. Once you compute the monthly instalments, compare them with your monthly income and expenses.

    Why should I choose a Lulu Finserv Personal Loan?

    The features & benefits of a personal loan offered by Lulu Finserv are amongst the best in the market. We prioritise your convenience and ensure that you have a comfortable borrowing experience.

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