A personal loan is an unsecured loan that does not require collateral. It can be used for various purposes such as marriage, education, medical emergencies, travel, home renovation, or other personal needs. Both salaried and self-employed individuals can apply for this loan, which offers attractive interest rates and flexible repayment options. You can apply online or at a bank or non-banking finance company (NBFC) branch, with a processing fee at applicable rates. The lender will assess your eligibility based on your income, credit score, and repayment potential, pulling your credit report from CIBIL. Once approved, the loan amount will be disbursed to your bank account.