Personal Loan

Eligibility for availing a Personal Loan

Personal loans are provided to both salaried and self-employed individuals/professionals. Most banks and NBFCs (Non-Banking Financial Companies) offer these loans with set eligibility criteria which varies depending on the type of applicant. Following are some of the key personal loan eligibility factors that need to be kept in mind: Particulars Salaried Self-Employed Age 21 – 65 years 21 – 70 years Minimum Income Rs. 15,000 per month Rs. 4.5 lakh per year (gross) Employment stability Total Experience – Minimum 2 years Experience in the Current Organization – Minimum 1 year Minimum 2 years in the current business. The personal loan eligibility criteria mentioned above is generic in nature and actual eligibility factors may differ from one lender to another.

Required Documents

  • PAN Card
  • Adhaar Card
  • Proof of Address
  • 3 Month Salary Slip
  • Last 6 Months bank statement
  • 2 years form 16
  • Office ID Card
  • Photograph
  • Minimum Salary Required Rs. 25000/-
  • Cancelled Check

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