Small loans
Small loans for short-term needs — compared on total cost
A small loan is a low-amount personal loan repaid over a short tenure — useful for a medical bill, a repair, school fees or a gap before payday. Disbursal is usually fast and fully digital. But on small amounts, a flat processing fee weighs far more heavily than it does on a large loan, so the headline rate can hide a much higher real cost. PaisaFin shows the fee and total payable next to every offer, so you can see what the loan actually costs.
Why borrowers pick it
What a small loans gives you
Low amounts, short tenures
Borrow only what you need and repay over a few months, which keeps total interest low.
Quick digital process
Many partners complete KYC and disbursal online, often soon after approval.
No collateral
Small loans are unsecured and assessed on your income and credit profile.
Fees made visible
On a small loan, fees can matter more than the rate. We show both, and the total you repay.
Eligibility
Who qualifies for a small loans
Criteria differ by lender. These are the ranges our partners commonly apply — the exact rule is shown on each offer.
Salaried applicants
- Within the lender's age limits at loan maturity
- A steady net monthly income that meets the lender's minimum
- Salary credited to a bank account
- A fair credit score and no current defaults
Self-employed applicants
- Within the lender's age limits at loan maturity
- Regular income visible in bank statements
- A running business or practice
- A fair credit score and no current defaults
Paperwork
Documents you will need
Keep soft copies ready before you apply — most partners complete verification digitally.
Salaried applicants
- PAN card and Aadhaar (or another accepted address proof)
- Recent salary slips
- Recent bank statements for the salary account
- Employment proof — offer letter, ID card or appointment letter
Self-employed applicants
- PAN card and Aadhaar (or another accepted address proof)
- Recent income tax returns with computation of income
- Recent current account statements
- Business proof — GST registration, Udyam certificate or shop licence
Costs
Interest, fees and charges
The rate is only part of the cost. Read this table alongside the total payable shown on each offer.
| Charge | What lenders typically apply |
|---|---|
| Processing fee | A percentage or flat fee + GST, set by the lender |
| Interest rate | Set by the lender and disclosed in the key fact statement |
| Prepayment / foreclosure | As per the lender's terms |
| Late payment charge | As per the lender's terms |
Figures in brackets are placeholders. Final rates and fees are set by the lending partner and are disclosed in the sanction letter before you accept an offer.
FAQs
Small loans questions, answered
Also compare
Other ways to borrow
- Personal loanCompare personal loan offers from RBI-regulated banks and NBFCs on PaisaFin.
- Business loanCompare unsecured business loan offers for MSMEs, traders and service businesses.
- MicroloansCompare microloan offers from RBI-regulated microfinance institutions, NBFCs and small finance banks on PaisaFin.
Compare small loans offers side by side
Checking offers is a soft enquiry, so your credit score is not affected.