Instant personal loan up to ₹10 lakh — compare every lender in one application

RateCut is an online personal loan marketplace in India. You fill one form, and RateCut matches your profile against 25+ RBI-registered banks and NBFCs, then shows you the offers you actually qualify for — with the interest rate, EMI and approval chance for each — so you can compare before you apply.

You can get a personal loan from ₹5,000 up to ₹10,00,000 through RateCut. The amount you are offered depends on your monthly income, credit score, existing obligations and the lending policy of each partner lender.

Eligibility results are shown in about 5 minutes after you submit the form and verify your mobile number with an OTP. Once you pick a lender and complete their KYC, disbursal to your bank account typically happens within 24 hours, and often the same day.

You must be an Indian citizen aged 21 to 58, with a net monthly income of at least ₹15,000, a valid PAN and Aadhaar, and an active bank account. A credit score of 600 or above improves your chance of approval, but some partner lenders also consider applicants with limited credit history.

For the RateCut form you only need your PAN number, date of birth and mobile number. The lender you finally select will ask for KYC documents — usually PAN, Aadhaar, and either three months of bank statements or recent salary slips. The process is fully digital, with no physical paperwork.

Personal loan interest rates through RateCut start at about 10.5% per annum and can go up to 36% per annum. Your exact rate is set by the lender based on your credit score, income and employment type. RateCut shows each lender’s starting rate and the estimated EMI so you can compare before applying.

No. Viewing your matched offers on RateCut is a soft enquiry and does not affect your credit score. A hard enquiry, which can temporarily lower your score by a few points, is only recorded when you formally apply with a lender you have chosen.

RateCut is free for borrowers. Comparing offers and applying costs you nothing. RateCut is paid a referral commission by its partner lenders. The lender itself may charge a processing fee, typically 1% to 5% of the sanctioned amount, which is always disclosed before you accept the loan.

Often yes. Because RateCut checks your profile against 25+ lenders at once, applicants with scores below 700 are frequently matched with NBFCs that use alternative underwriting. Approval is not guaranteed, and lower scores usually mean a higher interest rate or a smaller sanctioned amount.

Yes. RateCut only works with RBI-registered banks and NBFCs, verifies every applicant by mobile OTP, and transmits data over encrypted connections. RateCut never asks for an upfront fee, an OTP over a phone call, or your internet banking password.

A personal loan from RateCut is unsecured and end-use free. Borrowers commonly use it for medical emergencies, debt consolidation, weddings, home renovation, education fees, travel or business working capital. No collateral or guarantor is required.

You repay in fixed monthly EMIs over a tenure of 3 to 60 months, auto-debited from your bank account via NACH mandate or UPI AutoPay. Repayment terms, including any foreclosure or part-prepayment charges, are set by the lender you choose and shown in their loan agreement.