Personal Loan Eligibility

Personal Loan: Personal loans are unsecured loans which are provides by the banks without any security to meet our present financial needs. Loans are not fully secured (which means they do not have collateral by the borrower). Personal loans are mainly taken for the purpose of personal reasons like weddings, marriages, medical emergencies, to buy a lifestyle product etc.

Below details shows the eligibility for applying personal loan for both Salaried Employees and Self Employees.

Personal Loan Eligibility Criteria For SALARIED INDIVIDUALS

  1. Minimum age = 23 years  ||  Maximum  age = 58 years.
  2. Minimum salary must be Rs. 17,500 (Rs.25,000/-  for Mumbai & Delhi) (Rs.20,000/- for Chennai,  Hyderabad, Bangalore, Pune and Kolkata)
  3. Total no.of years in profession must be 2 years.

Personal Loan Eligibility Criteria For SELF EMPLOYEES

  1. Minimum age = 28 years ( 25 years for Doctors) ||  Maximum  age = 68 years.
  2. Business must be in a running position for a minimum period of 3 years.
  3. Minimum turnover mus be Rs. 40 lakhs for non-professionals and Rs.15 lakhs for professionals as per the audited financials.
  4. After tax [PAT] the company profit should be positive for the last two years.