Eligibility Criteria for personal Loans

By - Paisafatafat Blog

  • 2017-09-06 05:14:33
  • Personal loan

A personal loan stands for one of the most popular financial aids made available to customers for helping them meet their sudden, short term financial requirements like home renovations, holiday funding, wedding, child’s education, medical emergencies, debt consolidation, balance transfer etc. To be eligible to avail a personal loan is quite significant. Personal loan eligibility may be defined as one’s fitness or capability to borrow such a loan. The most major eligibility criteria of personal loan are as follows - 

You should be 21 to 55 years old

  • You need to be a salaried applicant
  • Your net income per month should be at least INR 15000
  • You need to have a minimum 1 year job/work experience
  • You need to reside in the city for a minimum of 1 year
  • You must be able to present all the documents required to prove your loan eligibility. Documents such as

Knowing your personal loan eligibility is a must for the following reasons-

- helps you in your financial planning for financial stability

- allows you to forecast the repayments of the loan

- gives you an idea to grab the best personal loan with the lowest interest rates

The unsecured personal loan calculator online helps you calculate your personal loan eligibility in just a few minutes.

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