1 / 10

Personal Loan Eligibility Criteria

Before you apply for a personal loan, you should learn about the eligibility criteria that all banks and NBFCs offer. The eligibility criteria for a salaried professional and a self-employed individual may vary on certain parameters. Those are age, income, stability in job, credit score, and documents required, etc. To know about these factors, go through the PPT. From here you can apply for personal loan: https://www.bajajfinserv.in/finance/personal-loan/salaried-personal-loan.aspx

arwindsharma
Download Presentation

Personal Loan Eligibility Criteria

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. PERSONAL LOAN Eligibility Criteria

  2. Before you apply for a Personal loan, learn about the eligibility criteria that all banks and NBFCs offer. While there may be slight variations, the general qualifications to get a personal loan are similar across all lenders. The eligibility criteria for a salaried professional and a self-employed individual may vary on certain parameters.

  3. AGE SALARIED PROFESSIONAL SELF-EMPLOYEED INDIVIDUAL MINIMUM: 21-24 years MINIMUM: 24-28 years MAXIMUM: 60 years MAXIMUM: 65 years

  4. INCOME SALARIED PROFESSIONAL SELF-EMPLOYEED INDIVIDUAL The monthly, as well as, annual earnings are looked while considering a candidate for a loan. The income limit is higher for a self-employed individual as their income varies every month.

  5. STABILITY SALARIED PROFESSIONAL SELF-EMPLOYEED INDIVIDUAL A self-employed must have continuity in current business for at least 2 to 3 years and have to file IT returns for 2 or 3 years. An employee in a government sector, a PSU, or in a large and established private company, or a professional like doctor, accountant, or lawyer, will get a loan easier.

  6. CREDIT SCORE SALARIED PROFESSIONAL SELF-EMPLOYEED INDIVIDUAL CIBIL Score must be between 650- 750 Credit Score must be above750

  7. DOCUMENTS SALARIED PROFESSIONAL SELF-EMPLOYEED INDIVIDUAL Need to provide the past 3 months salary slips and bank statements as proof of income. Need to provide the last two year’s IT returns, bank statements for the last 6 months, and proof of business’ existence.

  8. OTHERS SELF-EMPLOYEED INDIVIDUAL SALARIED PROFESSIONAL Need to have: • Been residing at current address for at least a year • Been dealing with the bank for at least a year, either as an account holder or as a borrower having taken a previous loan • Documents as proof of age, identity, and address. These should include birth certificate, PAN card or voter ID, and utility bills (electricity, telephone, gas bill)

  9. Check these Eligibility Criteria Make yourself suitable for it Check Personal Loan EMI Arrange for the documents Apply for a Personal Loan

  10. Thank You

More Related