Many people hesitate to apply for a loan because banks often ask for a guarantor. Not everyone is comfortable asking a friend, colleague, or family member to guarantee their loan.
The good news is — today, you can easily get an instant personal loan without a guarantor through digital lenders and NBFCs. We’ll explain how it works, who is eligible, and how you can apply quickly.
What Is a Personal Loan Without a Guarantor?
A personal loan without a guarantor means:
- You do not need someone else to sign your loan application.
- You are fully responsible for repayment.
- The lender approves the loan based on your income, credit score, and financial profile.
Most modern personal loans are unsecured, meaning:
- No collateral required
- No guarantor required
Approval depends mainly on your repayment capacity.
Can You Really Get an Instant Loan Without a Guarantor?
Yes. Many banks, NBFCs, and digital loan apps offer:
- 100% online application
- Instant approval
- No guarantor requirement
- Fast bank disbursal
However, lenders will carefully check:
- Your monthly income
- Employment stability
- CIBIL score
- Bank transaction history
Benefits of Getting a Personal Loan Without a Guarantor
1. No Awkward Conversations
You don’t need to involve friends or relatives.
2. Faster Processing
Without guarantor verification, approval is quicker.
3. Fully Digital Process
Apply from home using your mobile or laptop.
4. No Collateral Required
You can borrow an unsecured loan without pledging anything.
5. Privacy Maintained
Your loan remains a personal financial decision.
Also Read: Check Eligibility Criteria for Personal Loan on Bajaj Markets
Eligibility Criteria
To get an instant personal loan without a guarantor, you generally need:
- Age: 21 to 55 years
- Employment: Salaried Employee
- Monthly Income: ₹12,000 or above
- Work Experience: Minimum 12 months
- CIBIL Score: -1 or 700+
- Your salary must be credited to your bank account.
Some lenders also provide loans to individuals with slightly low CIBIL scores, but interest rates may be higher.
Documents Required
You typically need:
- PAN Card
- Aadhaar Card
- Salary slips (for salaried applicants)
- Salary Credit Bank statements (last 12 months)
- Address proof
How to Get an Instant Personal Loan Without a Guarantor?
Follow these simple steps:
Step 1: Check Your Eligibility
Make sure you meet income and age requirements.
Step 2: Compare Lenders
Use platforms like 24hrLoan to compare offers from multiple banks and NBFCs.
Step 3: Apply Online
Fill in your details and upload the required documents.
Step 4: Complete KYC
Complete Aadhaar-based or video verification.
Step 5: Get Approval & Disbursal
Once approved, the loan amount is credited directly to your bank account.
Interest Rate & Charges
Interest rates depend on your credit profile:
- Interest Rate: 16% to 30% per annum
- Processing Fee: Up to 3%
- Prepayment Charges: As per lender policy
- Late Payment Charges: Applicable if EMI is delayed
Better CIBIL score = Lower interest rate.
Tips to Increase Approval Chances Without a Guarantor
- Maintain a stable monthly income.
- Avoid multiple loan applications.
- Keep a good bank balance and regular salary credits.
- Repay existing EMIs on time.
- Apply for a reasonable loan amount.
Who Should Apply for This Loan?
This option is ideal for:
- Salaried employees
- Private company workers
- Self-employed professionals
- Individuals who prefer financial independence
- People who do not want to involve family in financial matters
Also Read: South Indian Bank Personal Loan: 5 Lakh Loan
Conclusion
Getting an instant personal loan without a guarantor is now easier than ever. With digital verification, income-based assessment, and paperless approval, you can get funds quickly without involving anyone else.
As long as you have a stable income and repay EMIs on time, you can enjoy financial flexibility without depending on a guarantor. Through 24hrLoan, you can compare the best loan offers from multiple banks and apply confidently — simple, secure, and fast.