A Personal Loan is an unsecured loan you can use for almost any personal expense and repay through fixed monthly EMIs, without giving collateral. In India, banks, NBFCs, and regulated digital lenders offer Personal Loans based mainly on income and credit profile. Loan amounts typically range from ₹10,000 to ₹40 lakh with tenures between 12 and 84 months. Interest rates are higher than secured loans because no asset is pledged as security.