Eligibility conditions for personal loan applications
Depending on the borrower's profile and his/ her relationship with the bank, the eligibility criteria may varies across lenders. However general requirements and limits are written below:
| Age limit: | 21 Yrs. – 60 Yrs. |
| Loan Amount: | Up to Rs. 50 lakhs (Varies according to borrower's profile, lender) |
| Borrowers net Income: | Min. Rs. 4,000 - Rs. 20,000 per month (varies according to lenders, areas) |
| Employment Type: | Salaried/ Self-employed professionals/ Businessmen |
| Employment Status: | Employed or in business for min 2 yrs. |
| CIBIL Score: | CIBIL score 750 - 900 |
Documents required for applying for personal loan
- Filled application form
- Borrower's photographs
- Identity proof: Passport Copy/ Driving License/ Voter ID
- Address proof: Passport Copy/ Registered Lease Agreement/ Electricity/ Water Bill/ Aadhaar Card
- Income proof: Latest Salary Slips (3 months)/ Current Salary Certificate/ Bank Statements (3 - 6 months)/ Passbook (3 - 6 months)
- Latest Form 16 for salaried/ Income Tax Return (ITR) for professionals and businessmen
MyLoanCare personal loan eligibility calculator calculates your eligibility based upon your monthly post tax in-hand income at longest available tenure and lowest interest rate offered in the market. Additional eligibility criteria, charges, terms, conditions and different interest rates may apply. Loans granted at sole discretion of respective bank.
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1 comments:
Hi,
Very useful stuff to proceed for a personal loan. Check your personal loan eligibility at Letzbank. Please visit https://www.letzbank.com/ for loan services.
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