Over 9.6% of personal loans approved in the first half of 2025 are used by borrowers for medical expenses. These are some of the situations where access to funds is as important as timely access. A personal loan offers you seamless access to funds for all your financial needs. However, understanding how long it takes to get a personal loan helps you make the right choice.
Personal loan approval time differs from one bank to another and from one Non-Banking Financial Company (NBFC) to another. It also depends on factors ranging from documents to eligibility criteria. In this blog, we will understand how long it takes to get a personal loan.
The average time it takes to get a personal loan depends on numerous factors. On average, however, it may take anywhere between a few hours to 10 days, depending on the type of lender. Here is how personal loan approval time varies across lenders:
As mentioned, the personal loan disbursement time after approval usually differs from one lender to another. If you are in urgent need of funds, the one important choice you will make that will decide the time for how long to get a personal loan is choosing the right lender. DMI Finance offers personal loans up to 10 lakhs, with a disbursal time of 24 to 72 hours.
Here’s the step-by-step application process:
You will receive the funds directly into your bank (within 24–72 hours).
Here are some practical tips you can follow to speed up your personal loan approval time:
1. Does applying online for a personal loan expedite approval?
Yes, online processing of personal loans allows lenders to verify documents and approve loans much faster than offline procedures.
2. Can I get a personal loan on the same day I apply?
Yes, some online lenders offer same-day disbursal and approval if your credit score is good and your documents are in order.
3. Does my salary bank account make my loan process faster?
Usually, yes, because your bank already has your banking information. An existing relationship with a lender also pre-approves you for a personal loan.
4. Will a weekend application hold up my personal loan sanction?
Yes, all banks and NBFCs accept applications only on working days, so weekend applications are accepted on the next working day.
5. Why is my personal loan being delayed?
Personal loan approval delays occur because the documents are incomplete, the information is incorrect, or additional time is required for manual verification.
6. Are pre-approved personal loans disbursed quickly?
Yes. Pre-approved personal loans are sanctioned based on your existing relationship and good credit history, so the lender disburses the amount quickly.
7. Does a poor credit score lead to delays in approval?
Yes, lenders view a credit score below 700 as risky. This is why it can take longer to verify your ability to repay or request additional proof if your score is lower.
8. Does having recently changed jobs affect the time it takes to approve my loan?
Not necessarily, but lenders like long-term employment, so recent job changes may require additional verification and delay the process.
9. How long until the money appears in my account after approval?
At DMI Finance, we disburse the amount into your bank account in 48-72 hours after personal loan approval.
10. Will preparing my documents beforehand make it quicker?
Yes, updated and clear documents greatly reduce delays at the verification stage.
| Personal Loan of Different Amounts | ||
| ₹50,000 Personal Loan | ₹1 lakh Personal Loan | ₹2 lakh Personal Loan |
| ₹3 lakh Personal Loan | ₹4 lakh Personal Loan | ₹5 lakh Personal Loan |
