Determine Personal Loan Eligibility

1. ELIGIBILITY BASED ON INCOME
• For salaried persons: Minimum salary requirement for most banks is Rs 15,000 / month with at-least 6 months to 1 year of work experience. Last 2 month’s salary slip would have to be submitted as proof.
• For self employed professionals and non-professionals: Income is judged based on bank statements, Profit & Loss account statements and tax returns filed for the business over 3 years.


2. ELIGIBILITY BASED ON APPLICANT’s AGE
• For salaried persons: Most banks give Personal Loan to applicants only above of the age of 21.
• For self employed professionals and non-professionals: Minimum age requirement here is 24 years.


3. ELIGIBILITY BASED ON RESIDENCE STATUS
• There needs to be 1 year of residence stability show to the banks for Personal Loan.This can be waived under certain circumstances like owned / spouse owned house.


4. ELIGIBILITY BASED ON TYPE OF COMPANY YOU ARE EMPLOYED
• If you are employed in a Public company or Class “A” company, then there are very high chances of you getting a personal loan and that too at attractive rates. However, if you are employed in Class “B” or “C” category company, then it is comparatively more difficult to get a personal loan and the interest rates on these loans are also going to be higher

• Pay off your credit Card Debt
• For home renovation / repairs.
• Pay for a Wedding.
• Medical Emergency.
• Take your dream vacation.
• To start a business
• Buy your dream Electronic / Gadget.
• Any other personal expense.

• Get Multiple Offers from multiple banks which would mean you could choose the Bank that gives you:
• Lowest Interest Rates.
• Lowest Processing Fees.
• Door step Service.
• Quick Loan Disbursement.
• All this means that you get the best deals sitting at your home!
• So just apply and we would do all the running around for you.