When considering what is the easiest loan to be approved for, in India, two options that often stand out are pre-approved loans from banks like IDFC FIRST Bank and unsecured or lightly secured personal loans from NBFCs like Muthoot Finance. These tend to have lower documentation requirements, faster digital processing, and eligibility criteria that are more lenient than standard loans.
What are the Easiest Loans to Get Approved For?
IDFC FIRST Bank:
Offers pre-approved personal loans (via its FIRSTmoney app) which are among the easiest to get.
If you already have a pre-approval offer, the process is almost entirely digital: minimal documentation (like PAN via Video KYC), a credit score of around 730 or above, and age between 21-60 years.
Because much of the groundwork (creditworthiness, banking history) is already checked ahead, approval and disbursal can be very fast.
Muthoot Finance:
On the other hand, Muthoot Finance also provides relatively easy-to-get personal loans, particularly for those with stable income (salaried or self-employed), verified bank statements, and basic KYC (identity, address proofs, etc.).
For many borrowers, especially salaried ones, the documentation is not overly burdensome. Muthoot offers loans from Rs. 1,00,000 to Rs. 20,00,000, and the tenure from 12 to 72 months with interest rates starting around 13.5% p.a., though the final rate depends on one’s creditworthiness.
Between the two, pre-approved personal loans (by IDFC FIRST, or equivalent banks) generally have the least friction, since much of the eligibility is pre-validated.
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What is the Easiest Loan to be Approved For?
ruchi
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2025-09-30T09:50:13+00:00 2025-09-30T09:50:15+00:00Comment
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