A personal loan functions very similarly to other loans. It satisfies an individual's scheduled and unexpected needs. Apply for a personal loan from Sova FinServ online with the least amount of paperwork. It's never been so easy to apply online for a personal loan in India. Obtain a personal loan from us with immediate approval and some of the lowest interest rates.

What you should know about our Personal Loan

Choose from the Flexi Hybrid Loan, Flexi Term Loan, or Term Loan depending on your needs.
No fee for partial prepayment of the Flexi Term Loan
At no additional expense, pay back a portion of your loan early. As many times as you'd like, you can part-pay.
A loan of up to 35 lakh rupees
Organize your expenditures with loans that range from Rs. 1 lakh to Rs. 35 lakhs.
Flexible Tenure.
Repayment options that range from 12 months to 84 months make managing your loan simple.
In less than five minutes, get approval
Whether you're at home or somewhere, you may complete your full application online.
Your loan amount will be credited to your bank account within 24 hours*, or in some situations, the same day as your application is approved.
Our fees and charges are specifically outlined both on this page and in our lending documents. Before applying, we suggest that you carefully go through these. Become familiar with our costs and fees.
No collateral, such as gold or silver jewellery, legal documents confirming your ownership of property, or a guarantor, is required.

Criteria for eligibility

Indian nationality
Age ranges between 21 to 67 years.
Working for a public, private, or MNC.
750 or more on the CIBIL.
Depending on the city where you live, your monthly compensation will start at Rs. 22,000.

Needed Documents

KYC records: Passport, voter's ID, Aadhaar, PAN cards, and employee ID cards
Pay slips for the previous two months or the most recent three months’ bank statements

When the loan term ends, you must be 67 years old or younger.

FAQs

What exactly is a Flexi Term Loan?

One of the top financial institutions in the nation to offer the special Flexi Term Loan facility for personal loans is Sova FinServ. With this method, you can take money out of the loan amount you were given or pay back a portion of your loan when you need it. Only the amount you withdraw is subject to interest charges. Additionally, no cost for partial prepayment is applicable.

What is a term loan?

A term loan is a typical personal loan where the principal and interest are repaid in consistentpayments over a certain time period. You have a choice between the term loan, Flexi term loan, or Flexi hybrid loan when you apply for a personal loan from Sova FinServ. The most popular loan alternatives are Flexi Term Loans and Flexi Hybrid Loans since they provide the most flexibility and ease.

How do Flexi Hybrid Loans work?

Another handy personal loan option provided by Sova FinServ is the Flexi Hybrid Loan. With this option, you can split the initial and subsequent tenures of your loan into two separate periods.>

Initial tenure: During the initial part of the tenure, which is typically the first 12 months of your loan, you are simply required to pay the interest portion of the loan in monthly instalments. During this time, there are no payments due on your loan's principal.

subsequent tenure: following the first 12 months of your loan, you will pay a monthly instalment that includes both the principal balance and the interest due on your personal loan.

When the previous tenure expires, the succeeding tenure begins.

Throughout the loan's term, you can make withdrawals and pay off a portion of the balance early. Only the amount used will incur interest fees.