Shopping Loan in India 2022

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Shopping Loan in India 2022 Highlights

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Are you holding back your desire to buy a new dress in your wish list due to lack of cash, or can’t get benefits from discounts on online shopping because your salary has not been credited yet? Then a personal loan is what you need to meet your shopping expenses. 

About Shopping Loans

Now personal loan apps offer small-ticket loans to help you purchase the products in your wish list at a low-interest rate. The loans can be availed for a short term as short as from 1 month to a couple of years. If you need small financial assistance for a very short period, it makes sense to apply for a personal loan rather than digging into your savings. Some lenders offer no-cost EMI loan for shopping at selected stores.  

Top NBFCs/APPs Offering Personal Loan for Shopping

Since there is no restriction on the usage of a personal loan, you can use a personal loan availed from any lender for shopping purposes. However, if you want to get a personal loan specifically for light shopping, not heavy shopping, it is wise to get a personal loan using the app instead of mainstream lenders. 

Here are some of the top personal loan apps that you can use to get a shopping loan:   

EarlySalary personal loan for shopping:- EarlySalary personal loan is a popular personal loan app among young professionals. With the EarlySalary app, borrowers can get a personal loan from Rs. 15,000 to Rs. 2 lakh. EarlySalary shopping loan is available with no-cost EMI option for shopping at Amazon, Flipkart, Big Bazaar and many other online retailers. The loan can be availed for a flexible tenure 3 – 12 months. Moreover, there is no prepayment charges on the EarlySalary personal loan. Hence, once you get the salary credited into your bank account or bonds, you can close the loan immediately. 

KreditBee personal loan for shopping:- KreditBee offers a personal loan for young professionals for shopping. A shopping loan starting from Rs. 1,000 up to Rs. 2 lakh can be availed at 1.02% per month interest rate. Borrowers can get the loan within 15 minutes with minimal documentation. The loan can be availed for shopping at multiple online stores and retailers such as Amazon, Flipkart, Myntra, MakeMyTrip, Cleartrip, Nykaa. 

CashBean personal loan for shopping:- Backed by PC Financial Service Private Limited, CashBean is an online lending platform for salaried professionals. Borrowers can get a personal loan from Rs. 1,000 to Rs. 60,000 for their personal requirements through smartphone within 10 minutes. CashBean personal loans can be availed for a variety of shopping needs with minimal documentation. 

ZestMoney shopping loan:- Underserved customers who have limited access to financing from conventional lenders can get consumer durable loans from ZestMoeny at attractive interest rates with flexible repayment options. You can get the loan to shop at 100+ merchant partners like Amazon, Myntra, Uber, Kurl On, Jabong, Oyo, Uber, etc. 

Personal Loan for Shopping- Features and Benefits

  • Easy and instant loan application process: Shopping loan apps leverage modern technology AI and data science to process a loan application. Hence, the loan application is processed immediately which results in immediate disbursal. 
  • No cost EMI: Most lenders have tie-ups with merchants for no-cost EMI offers. You can shop at any partner merchants and repay the loan in a convenient and hassle-free manner. 
  • Flexible loan amount: Customers can get a personal loan starting from as low as Rs. 1,000 up to Rs. 2 lakh for purchasing a wide range of products across categories like lifestyle, kitchen appliance, mobile phone, laptops, jewelry, holiday trips etc. 
  • Exclusive offers at leading stores: Multiple lenders offer instant cash for shopping at leading online and offline stores like Amazon, Flipkart, Myntra, Oyo, Kurl On, Fossil, Mi Homes, Shopper Stop, Pantaloons Fashion & Retail. 
  • Easy repayment: Borrowers can repay the loan through multiple repayment options. They can use the app to repay a personal loan. Many lenders don’t have prepayment charges.
  • Attractive interest rates: Since shopping loans are short-term credit, if you repay the loan within a couple of months, loans don’t cost much. Moreover, multiple lenders charge interest only on the withdrawn amount. 

Personal Loan for Shopping- Interest & Fees

Interest rates and other charges vary from lender to lender. Generally, the interest is charged on a monthly basis, ranging from 1% to 2% per month. Here are the interest rates charged by some lenders:


Interest rate (per month)

Loan amount



2% - 2.5%

Rs. 5000 - 2 lakh

Up to 12 months



Rs. 1000 - 2 lakh

3 - 15 months


Depends on the company’s policy

Rs. 1,500 - 60,000

3 - 4 months


Eligibility Criteria for shopping loan

Eligibility criteria also vary from lender to lender. Here are the basic requirements for a shopping loan application:

  • The applicant should be an Indian citizen
  • Minimum age to apply for a shopping loan is 21 year
  • Age of the applicant should not exceed 65 years at the time of loan maturity
  • Minimum income/ salary of the applicant should be in line with the income criteria set by a lender

Documents Required for shopping loan

The documentation process for shopping loans is very simple and short. You can apply for the loan by uploading a few KYC documents online. While the type of documents may slightly vary from lender to lender, here is the checklist of basic documents you need to apply for a shopping loan. 

  • PAN card number of the applicant
  • Company name and e-mail address of the applicant
  • Photographs or professional selfie 
  • Form 16, bank statement and salary slips of the applicants for the last three months
  • Proof of identity: Any one of – Driving license, passport, voter’s ID card, Aadhaar card
  • Address proof: Any one of – Utility bills, driving license, passport, Aadhaar card, Ration card

How to apply Personal Loan for Shopping through

Applying for a shopping loan on Ainoz is a quite simple and short process. Borrowers can apply for a Shopping loan by clicking the ‘Apply Now’ button on the personal loan page. Now complete the short and simple personal loan application form to check your eligibility. You will receive exclusive shopping loan offers from multiple personal loan apps, based on your eligibility. As per your requirements and offers, you choose the best lender. 

➤ FAQs

Ques. How soon can I get a shopping loan disbursed?

While disbursal time may vary from lender to lender, as shopping loans are small loans and need no paperwork, eligible customers can get the loan in their account within 48 hours.

Ques. Can I prepay a personal loan for shopping without repayment charges?

Almost all lenders allow prepayment for a shopping loan, however prepayment fees, whether applicable or not, depend on the internal policy of a lender. Some lenders charge while others don’t.

Ques. Is it possible to get a shopping loan again and again from the same lender?

Usually, personal loan apps offer small personal loan. If you repay the loan amount on time, you can again get a personal loan with documentation. Moreover, some lenders offer a shopping loan in the form of a line of credit, which means you can apply for a maximum amount but withdraw the only amount you need without incurring any interest.

Ques. Are shopping loans available to buy products only from the partner merchants of the lender?

Well, it depends on the internal policy of the lender. If a lender offers a shopping loan for shopping from selected partners, then you can withdraw the money to shop only at those stores. However, if there is no restriction set by a lender, you can shop anywhere.