Personal Loan Eligibility Criteria
To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.
- Age should fall under the range of 21 years to 60 years
- Net monthly income should be 15,000/- salaried.
- Credit score must be above 650
- Employment stability
- Maintained a good credit score
- Clear repayment history
- Must be a Resident Citizen of India
Documents required to apply for Personal Loan
- Identity Proof – PAN Card, Aadhaar Card
- Proof of Residence or Address Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card Etc.
- Income Proof – 6 Month’s Bank statement, 3 months Salary Slips
- Employment Proof – Employment Certificate, Office address proof
- Photograph – Passport-size photographs