Friends, if you need urgent money, such as for a medical emergency, wedding, or shopping, a pre-approved personal loan is a quick solution! These loans are available from banks or NBFCs, where approval is already ready, with minimal paperwork and instant disbursement. Here, I’ll explain how it works, what the eligibility is, and what the top offers are as of 2025. Let’s explain it simply!
What is a Pre Approved Personal Loan and How to Get It?
A pre-approved personal loan is where the bank sends you an offer in advance based on your credit history, salary credits, and banking relationship. All you have to do is accept, and the money is deposited into your account – sometimes in as little as 10 minutes! Existing customers benefit more because the bank already knows your data.
How to apply:
- Log in to your bank app or net banking, such as SBI YONO or the HDFC app. Check the PAPL (Pre-Approved Personal Loan) section.
- Enter your PAN and DOB, select the loan amount and tenure, and verify the OTP – done!
- Compare offers from multiple banks on sites like Paisabazaar, without affecting your credit score.
No collateral is required, and it’s an end-to-end digital process. But remember, getting the offer isn’t guaranteed – there’s a final check.
Top Banks and Offers in 2025
Offers are plentiful in October 2025 due to the festive season. HDFC Bank offers special rates starting at 9.99% p.a., zero foreclosure fees, up to 72 months tenure, and up to ₹40 lakh loan – valid till 31st October. IDFC FIRST Bank offers up to ₹10 lakh, no hidden fees, and quick disbursal. Instant PAPL through SBI YONO app for select customers.
Bajaj Finserv Insta Loan offers pre-approved offers to existing customers, with minimal documentation. Bank of Baroda checks PAPL via SMS, and disbursal occurs within 5-10 minutes. Kotak and Federal Bank also offer instant options.
Best banks: HDFC, SBI, IDFC, Axis, ICICI – for low rates and quick processing.
Eligibility: Who Can Apply?
- Good credit score (730+), stable income, and existing bank relationship.
- Salaried or self-employed, with a clean repayment history.
- Age 21-60, Indian citizen.
- Preference given to existing customers, such as salary account holders.
| Features | Description |
|---|---|
| Interest Rate | 9.99% p.a. starting from (HDFC festive offer) |
| Loan Amount | Up to ₹10 lakh (IDFC), up to ₹40 lakh (HDFC) |
| Tenure | 12-72 months |
| Processing Fee | Low or zero (in some offers) |
| Disbursal Time | 10 minutes to 24 hours |
| Documents | Minimal (KYC already) |
Pros and Cons
Pros:
- Instant approval and disbursal, no paperwork hassle.
- Lower rates for existing customers, flexible use.
- No collateral, digital process.
- Zero fees like festive offers.
Cons:
- Offered only to select customers, not everyone.
- Higher rates if credit score is low.
- Processing fees or penalties may apply.
- Offer for a limited time.
Conclusion
Pre-approved personal loans are best for urgent needs in India, especially from banks like HDFC or IDFC. Check your bank app for offers, compare them on Paisabazaar, and apply if eligible. Discounts are plentiful during the festive season, so take action now! Let us know in the comments which bank’s offer did you get?
