Are personal loans available for large or small expenses?

Personal loans are highly versatile financial products designed to cater to both large and small expenses. In 2025, you can apply for a personal loan to meet a wide range of financial needs—whether it’s a modest sum for a short-term requirement or a significant amount for a major life event. The amount you are eligible to borrow is determined by factors such as your monthly income, credit score, existing debts, employment stability, and the specific policies of the lender.

For smaller expenses like minor home repairs, travel, or purchasing gadgets, you can opt for a lower loan amount with a shorter repayment period. This lets you to manage repayments easily and close the loan quickly. On the other hand, if you need funds for larger commitments like weddings, extensive home renovations, higher education, or consolidating multiple debts, personal loans are also available in higher amounts with longer tenures, subject to your eligibility and repayment capacity.

Some typical uses for personal loans include:

• Medical emergencies and healthcare costs
• Home improvement and renovation
• Weddings and family events
• Travel and holidays
• Debt consolidation
• Education-related expenses
• Moving or relocation costs

Lenders generally do not restrict the end-use of personal loans, making them suitable for almost any personal financial requirement, except for prohibited uses like gambling or illegal activities. It is important to borrow only what you need and ensure that your EMI obligations fit comfortably within your monthly budget. Always assess your repayment capacity before taking a loan, whether for a small or large expense to maintain healthy financial management and avoid unnecessary debt burden.