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Looking for a quick and hassle-free loan? Upwards Personal Loan is one of the fastest-growing digital lending platforms in India, offering instant loans of up to ₹5 lakh. Whether you need funds for medical emergencies, home renovation, wedding expenses, or travel, Upwards provides a seamless and fully digital process to get your loan approved and disbursed within hours.
Below is everything you need to know about Upwards Personal Loan, including interest rates, eligibility, required documents, fees, and more.
What is Upwards Personal Loan?
Upwards is a digital lending platform that provides personal loans for salaried individuals. With a user-friendly mobile app, Upwards ensures fast approval, minimal documentation, and a 100% paperless loan process.Key Features of Upwards Personal Loan:
- Loan Amount: ₹25,000 – ₹5,00,000
- Tenure: 6 – 36 months
- Interest Rate: 16% – 36% per annum
- Processing Fee: 2% – 4% of the loan amount
- Approval Time: 20 seconds – 120 minutes
- Disbursal Time: Within 24 hours
Upwards Personal Loan Interest Rate
Interest rates for Upwards Personal Loan vary based on multiple factors such as loan amount, tenure, applicant’s credit score, and repayment history.Interest Rate Breakdown:
- Minimum Interest Rate (APR): 16% per annum
- Maximum Interest Rate (APR): 36% per annum
- Processing Fee: 2% – 4% of the loan amount
- Repayment Tenure: 6 – 36 months
Example Calculation:
For a loan amount of ₹1,00,000 at a 20% annual interest rate for 12 months:
- Processing Fee (2%): ₹2,000
- Monthly EMI: ₹9,263
- Total Amount Paid Back: ₹1,11,161
- Annual Percentage Rate (APR): 24%
Upwards Personal Loan App – Instant Loans in 3 Easy Steps
Upwards provides a hassle-free loan application process through its mobile app. The process is fully digital, eliminating the need for physical forms.
How to Apply via the Upwards App:
- Download the App – Available on the Google Play Store.
- Fill Out the Application – Enter your loan requirements and employment details.
- Upload KYC Documents – Submit Aadhaar, PAN, salary slips, and bank statements.
- Loan Approval – Get approval within 20 seconds to 120 minutes.
- Loan Disbursal – Sign the agreement digitally and receive funds within 24 hours.
Upwards Personal Loan Eligibility Criteria
To apply for an Upwards Personal Loan, you must meet the following eligibility requirements:
- Employment Type: Salaried individuals only
- Minimum Monthly Salary: ₹20,000
- Age Limit: 21 – 50 years
- CIBIL Score: Minimum 625
- Loan Amount: ₹25,000 – ₹5,00,000
Documents Required for Upwards Personal Loan
The loan process requires minimal documentation. Keep the following documents ready before applying:
Mandatory Documents for Salaried Individuals:
- PAN Card – For identity verification
- Aadhaar Card – For address proof
- Salary Slips (Last 3 Months) – To verify income stability
- Bank Statements (Last 3 Months) – To assess financial history
Upwards ensures a completely paperless loan process, allowing users to upload documents digitally through the mobile app.
Upwards Personal Loan Fees and Charges
Apart from interest rates, Upwards also charges processing fees and other nominal charges. Below is a detailed breakdown:
Fee Type | Charges |
|---|---|
Processing Fee | 2% - 4% of the loan amount |
Late Payment Fee | As per the loan agreement |
Prepayment Charges | Low foreclosure charges |
EMI Bounce Charges | As per loan terms |
GST | Applicable on fees |
Upwards maintains transparent pricing, ensuring there are no hidden charges in the loan process.
Benefits of Taking an Upwards Personal Loan
1. Quick Approval & Fast Disbursal
- Get loan approval within 20 seconds to 120 minutes.
- Funds are disbursed within 24 hours after approval.
2. 100% Paperless Process
- The entire loan process is conducted digitally.
- No need for in-person visits or handing over physical documents.
3. Minimal Documentation
- Only PAN card, Aadhaar card, salary slips, and bank statements are required.
4. Flexible Loan Tenure
- Choose repayment tenure from 6 to 36 months as per your convenience.
5. No Collateral Required
- Upwards offers unsecured personal loans, meaning no assets need to be pledged.
6. Affordable EMIs
- EMIs start as low as ₹2,500 per month.
7. Low Foreclosure & Prepayment Charges
- If you wish to pay off your loan early, foreclosure charges are minimal.
Recommended Read: 35 Best Instant Personal Loan Apps in India for 2025
Loan Repayment Terms & Conditions
Understanding loan repayment terms is crucial before applying. Below is a detailed example:
- Loan Amount: ₹50,000
- Loan Tenure: 9 months
- Interest Rate: 22% per annum
- Processing Fee: 3%
- EMI: ₹6,077
- Total Interest Paid: ₹4,694
- Processing Fee Deducted: ₹1,500
- Total repayment amount: ₹54,694
Where Can You Use an Upwards Personal Loan?
Upwards personal loans can be used for multiple purposes, including:
- Medical Emergencies – Instant funds for hospital expenses.
- Home Renovation – Upgrade or repair your home.
- Education Expenses – Pay tuition fees or buy study material.
- Wedding Expenses – Cover marriage-related costs.
- Debt Consolidation – Repay multiple loans easily.
- Travel & Vacations – Fund your dream holiday.
- Two-Wheeler Purchase – Buy a new bike or scooter.
Security & Privacy Measures
Upwards prioritises customer security and ensures strict privacy protocols:
- Data Protection: Upwards follows RBI-mandated security standards.
- User Privacy: Customer data is never shared without consent.
- Encryption: All transactions are securely encrypted.
How to Increase Your Chances of Loan Approval?
- Maintain a CIBIL Score above 625
- Maintain a good credit history
- Provide accurate employment details
- Apply for a loan within your repayment capacity
- Upload valid documents
Other Popular Personal Loan Providers
Other Popular Personal Loan Providers |
|---|
| Fibe Personal Loan |
| Prefr Personal Loan |
| MoneyView Personal Loan |
| Paysense Personal Loan |
| Pokket Personal Loan |
| CASHe Personal Loan |
FAQs on Upwards Personal Loan
1. What is the maximum loan amount I can get with Upwards Personal Loan?
You can avail a personal loan ranging from ₹25,000 to ₹5,00,000, depending on your eligibility and credit profile.
2. How long does it take for loan approval and disbursal?
Loan approval typically takes 20 seconds to 120 minutes, and the loan amount is disbursed within 24 hours after approval.
3. What is the interest rate for Upwards Personal Loan?
The interest rate ranges from 16% to 36% per annum, based on your creditworthiness and loan amount.
4. What documents are required to apply for an Upwards Personal Loan?
You need to provide your PAN card, Aadhaar card, salary slips (last 3 months), and bank statements (last 3 months) for loan approval.
5. Can I prepay or foreclose my loan before the tenure ends?
Yes, you can prepay or foreclose your loan with minimal foreclosure charges, as per Upwards’ loan terms.
6. What is the minimum salary required to apply for an Upwards loan?
You must have a minimum monthly salary of ₹20,000 to be eligible for an Upwards Personal Loan.
7. How can I check my loan status?
You can check your loan status through the Upwards mobile app or by contacting customer support via the in-app chat.
Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.
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