Personal Loan

How can you get a personal loan without any fee?


In simple terms, a personal loan means a loan that is facilitated by the bank to give you instant cash flow when you are in financial need. It is a kind of personal loan without a processing fee. Usually, when you require immediate finance for trips, weddings, education, family problems, or health issues; you can go for online loans without processing fees. These loans will not require you to furnish any collateral, such as gold, bonds, shares, or property deeds. Plus, the banks will not ask any questions as to why you require the personal loan. 

Personal loans without processing fees grant you an unsecured line of credit and thus require very little time to get processed. Since you don’t need to show any personal guarantee for these kinds of loans, the grant of this loan depends on several other factors, which we will discuss further in this article. The advent of fintech and the availability of the internet everywhere enables you to apply for a loan online and receive this amount without the hassle of going to the lenders physically. These loans are instant loans without any processing fees. These tech-oriented loans help in getting your loan processed without ever going to file your physical documents. 

But, getting a personal loan depends on several factors. The below-mentioned factors are some crucial ones that you need to remember in case you want a personal loan without processing fees. 

1. Maintain high credit score – 

Personal loans without processing fees are a form of loan that is given without guarantee. Thus, the lenders of these loans emphasise the credit score of the borrower. This means that they will look at how high your credit score is and establish your credibility accordingly. Maintaining a high CIBIL score is an indicator of your responsibility as a lender. The fact is simple: the higher your credit score, the faster and easier your instant loan without processing fees will be granted. You should always keep an eye on your CIBIL score. The best part is that if you keep a good credit score, you may not even need to provide your profit or salary details, and your loan will be approved. A CIBIL score of 750 and above is good for getting your loan processed easily. 

2. Pay your debts on time – 

You should always pay back your dues on time. It means that you should always keep an eye on the deadlines by which you have to pay back the money. Always keep a record of your credit card bill, EMIs, and other borrowings. This will enable you to pay back these bills on time. When you maintain a good track record for paying back the money, it establishes a rapport with the lender. When you default on your payments, it establishes a negative image in front of the lender. It means that they will ask for additional documents and take a lot of time to process your personal loan without charging a processing fee.

3. Maintain a good relationship with the lender – 

You should always maintain a good relationship with your lender. Whenever you want to take an instant loan without paying a processing fee, you should always choose one lender. A long-standing relationship with the lender will help you get your loan processed easily and without wasting any time. The long-term relationship establishes your moral credibility with the lender and thus enables you to get cash immediately.

4. Debt-income ratio – 

This is a highly deciding factor regarding the grant of your online loan without a processing fee. The loan that you are asking for should be at least 50% of or less than your total income. Only then can it be considered a favourable debt-income ratio. The lower this ratio, the better your ability to repay the loan will be. An ideal debt-to-income ratio should be below 50% to get your loan approved smoothly. 

5. Avail a pre-approved instant loan without a processing fee – 

There are several lenders like Piramal in the market that grant a pre-approved online loan without any processing fees. It means that there will be minimal documentation and a waiting period involved in getting your loan approved. Usually, these pre-approved loans are specifically designed to cater to your needs and thus require no documentation at all.

Although there are some crucial things that you need to keep in mind before getting your personal loan without a processing fee, they are:

  1. Always check the EMI that you will have to pay for repaying the loan. You can check this using an online personal loan EMI calculator. Checking the EMI amount ahead of time will help you understand whether you will be able to repay the amount on time. If you can’t repay the EMI in time, then you will default on your payments, which will negatively impact your CIBIL score. 
  2. You should always go for the lender that grants you online loans and approval. You must check that the whole process will be done online. Nobody wants to get stuck in the hassle of getting the loan physically approved. Go for the lenders that have the best and easiest mechanism to approve the loans. 


The need for financial help can arise at any time. There can be any sort of emergency where you may require a loan. But, in today’s day and age, it’s impossible to resort to physical loan mechanisms. You should select lenders who can process an instant loan with no processing fee using online mechanisms. The documentation, credit score check, and repayment capacity should all be checked through the internet so that the borrowers are never subjected to unnecessary struggle. This is why it becomes crucial that you choose lenders like Piramal because we are the best in the market in terms of processing personal loans, and we understand that the need for money may arise anytime.