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Privo Personal Loan Key Highlights

Following are the key highlights of the Privo instant personal loan:

Loan AmountUp to Rs. 2 Lakhs
Serviceable Pin Codes~5,000
Tenure3 months - 5 years
Interest RateStarts at 9.99% p.a. 
Processing FeeUp to 5%
Age21 - 60 years
Credit Score700+

Privo Personal Loan Interest Rates

RBI-regulated NBFC Privo offers low-interest rate instant personal loans starting from as low as 9.99% per annum. The repayment tenure is flexible, which enables convenient loan repayment in a tenure of 3 to 60 months at a low-interest rate. 

Privo Personal Loan Features & Benefits

  • Privo offers a maximum loan amount of up to Rs. 2 Lakhs.
  • Privo personal loan interest rates start from just 9.99% p.a.
  • Privo personal loans can be used for car repairs, vacations, medical bills, or any other unexpected expense.
  • These instant loans are available for both salaried as well as self-employed individuals.
  • Privo offers quick approvals and disbursals.
  • You don’t need any collateral to avail of an instant personal loan from Privo.
  • No pre-closure charges or hidden costs are involved.

Privo Personal Loan Eligibility Criteria

To be eligible for a quick personal loan, Privo requires you to fulfill the following eligibility criteria:

  • Minimum monthly income: Borrowers should have a minimum monthly salary of Rs. 18,000.
  • Age: The age limit for borrowers is a minimum of 21 and a maximum of up to 60 years
  • Credit score: A minimum CIBIL score of 700 is required to get an instant personal loan from the Privo loan app.
  • Android user: Privo loan is fully digital, hence borrowers need at least an Android mobile phone to successfully apply for a personal loan without collateral.
  • Unsecured loan inquiries: <=2 in the last 10 days, < =5 in the last 1 month, and <=9 in the last 3 months.
  • DPD: No DPD in the last 12 months.

Documents Required for Privo Personal Loan

With the Privo app, there is no need to prepare and submit physical documents as borrowers greatly benefit from the e-documentation facility of Privo. You can upload the data and KYC details online. Once these details are verified, all documents can be e-signed. With the Privo app, you can borrow instant loans multiple times with just one approval. There is no need to get personal loan approval every time you borrow.

To get personal loan approval from Privo, you will be required to upload proof of identity, address, income, and employment. Privo’s intuitive application process guides you through the seamless submission of these essential documents.

How to Apply for a Privo Personal Loan?

It is extremely easy to apply for an instant personal loan without collateral through Privo by setting up your account. You can get started in just a few easy steps mentioned below:

  • Set up your profile by providing some basic details including your name, monthly salary, PAN Card, email ID, workplace details, etc.
  • Mention your KYC details like your Aadhar number and upload a selfie. 
  • The system automatically fetches your details from the CKYC portal. Check and confirm the displayed information.
  • Choose the loan amount you want to borrow, the purpose of borrowing the loan, and the repayment tenure of your choice.
  • Privo will check your eligibility basis the given information and then approve your loan request if everything is according to its internal policy.

Privo Personal Loan Fees & Charges

  • Rate of interest: 9.99% p.a. onwards.
  • Processing fee: Up to 5% of the loan amount.
  • Overdue interest rate/ Default interest rate/ Late payment penal interest: 36% p.a.
  • Full/ Part prepayment charges: Nil.
  • Swap charges (Cheque/NACH): Rs. 250 + taxes.
  • Dishonour charges: Rs. 450.

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Apply Best Personal Loans offer starting from 10.50%

Now get IDFC First Bank personal loan of Rs. 50000 to Rs. 40 Lakhs ( Rs. 75 Lakhs as per eligibility norms) at lowest interest rate starting from just 10.50% per annum and the processing fee is 0.5% to 2.50% of the sanctioned limit + GST.

Privo Personal Loan FAQs

How long does it take to get personal loan approval from Privo online?

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Privo’s provides instant online personal loan approvals within 15 minutes, depending on the user’s network health and speed.

Can I apply for a Privo personal loan without a PAN and Aadhaar card?

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No, your PAN and Aadhaar card details are essential to apply for a personal loan with Privo.

Can I avail of a Privo personal loan for business purposes?

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Yes, Privo personal loans can be used for business purposes.

Can I apply for multiple personal loans online through Privo?

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Yes, Privo allows the application for multiple loans simultaneously. However, it encourages responsible borrowing practices. It’s crucial to look at your repayment capacity and overall financial commitments before availing of multiple loans.

What if I miss or don’t pay my scheduled personal loan EMIs?

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Privo offers an autopay feature to help you make timely payments. However, maintaining sufficient balance in your bank account to cover these payments is your responsibility. Failing to do so may result in the imposition of additional late fees.

How can I contact customer support of Privo for my online personal loan queries?

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You can call Privo’s dedicated customer support helpline number 1800-1038-961 or send an email to support@privo.in regarding any queries related to Privo personal loans.