Personal Loan up to ₹40 Lakh
Collateral-free personal loans from 10.49% p.a.* with disbursal in 24 hours — for weddings, travel, medical needs or anything in between.
Key Features
Why borrowers choose an Akon Finance personal loan.
Instant Approval
Pre-approved offers in under 2 minutes.
No Collateral
No security, no guarantor required.
Flexible Tenure
Repay over 12 to 72 months.
100% Paperless
Upload documents from your phone.
Personal Loan EMI Calculator
Move the sliders to plan an EMI that fits your budget.
Eligibility Criteria
Basic requirements set by partner lenders.
| Criteria | Salaried | Self-employed |
|---|---|---|
| Age | 21 – 60 years | 25 – 65 years |
| Minimum income | ₹25,000 / month | ₹5 lakh / year (ITR) |
| Work experience | 1 year (6 months current job) | 3 years in business |
| Credit score | 700 and above | 700 and above |
| Residence | Indian resident | Indian resident |
Documents Required
Keep these ready for a faster approval.
- PAN card and Aadhaar (for e-KYC)
- Last 3 months’ salary slips
- Last 6 months’ bank statement
- Form 16 or latest ITR (self-employed: 2 years)
- Current address proof if different from Aadhaar
- Passport-size photo (captured in app)
Fees & Charges
Shown upfront in your key fact statement before you sign.
| Charge | Amount |
|---|---|
| Processing fee | Up to 2.50% of loan amount + GST |
| Part-prepayment | Nil up to 25% a year after 6 EMIs |
| Foreclosure | Up to 3% of principal outstanding + GST |
| EMI bounce | ₹500 per instance |
| Late payment | 2% per month on overdue EMI |
| Stamp duty | As per state laws |
Personal Loan FAQs
Quick answers before you apply.
How fast is the personal loan disbursed?
Pre-approved customers can get funds within 30 minutes. New customers typically receive disbursal within 24 hours of document verification.
Do I need a guarantor or collateral?
No. Personal loans on Akon Finance are unsecured and need no guarantor or collateral.
What can I use the loan for?
Any personal need — a wedding, travel, medical bills, home renovation, education or consolidating credit card debt.
Are there part-prepayment charges?
You can part-prepay up to 25% of the outstanding each year at no charge after paying 6 EMIs. Foreclosure charges are up to 3% plus GST, depending on the lender.