Personal loans are provided to individuals and they're offered by various banks and NBFCs (Non-Banking Financial Companies) to salaried and self-employed individuals/professionals. To avail personal loans, there are certain eligibility criteria and they vary insignificantly depending on the type of the applicant. Following are a few key factors meeting the personal loan eligibility:
Profession: Salaried people working in private, government, or MNCs companies, and self-employed professionals such as Doctors, CA, CS, Architects
Age: 21 - 60 years
Minimum Income for Loan Eligibility: Rs. 15,000 to Rs. 25,000 per month for salaried; Rs 5 Lakh gross annual receipts for professionals
Work Experience Required: 2-3 years and above
*Please Note: The above personal loan eligibility criteria details are universal in nature, and the actual eligibility factors may differ from one lender to another.
To avail personal loans can be tricky, especially if you don't have a clear image or idea about your eligibility. Thus, use Fintra's Personal Loan Calculator for free to obtain clarity on the loan amount you're eligible for at various rates of interest and the tenure that best suits you. Use our personal loan calculator to obtain a clear picture of the probable loan deals you can avail.