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Common Eligibility Criterion for Personal Loan in India





Banks have different set of criterions to offer personal loan. Here we have listed common set of eligibility standards and required documents to give you an overview.

If you need detailed information you can visit respective bank’s website or contact us or fill up the form to know about the best personal loan solution (free).

Personal loan for Salaried Individual:

Age of the applicant

21 years to 65 years

Maximum age of applicant at loan maturity

60 years to 65 years

Minimum employment period

2 years in total and 1 year at present organization

 Minimum annual income

Rs.84,000/annum to 1,00,000/annum (Rs.72,000 in select cities)

Personal loan for Self Employed Individual:

(professionals – Doctor, CA, MBA Consultants, Business owners, Architects, CS, Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services etc.):

Age of the applicant

24 years to 65 years

Maximum age of applicant at loan maturity

60 years to 65 years

Minimum employment period

2 to 5 years continuous business experiences

 Minimum income

Rs.60,000/Annum to 1,00,000/Annum (Taxable income)