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Things every borrower needs to know about personal loan

Personal loans are one of the easiest ways to get funds for your personal or business needs. You don’t have to pledge any security as collateral and still avail a loan. The loan is approved and disbursed at the quickest and you get funds in your bank account to cater to your financial obligations.<br><br>Apply personal Loan at https://www.myloancare.in/personal-loan/

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Things every borrower needs to know about personal loan

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  1. Things Every Borrower Needs to Know About Personal Loan

  2. Your age should be between 21 years to 60 years. • Salaried individuals can avail a personal loan. Self employed individuals and businessmen are not eligible for personal loan • Net monthly income should be a minimum of Rs. 15, 000. • Resident Indians can only apply for the loan The eligibility criteria

  3. loan amount is determined as a multiple of the net monthly income. • The resultant EMIs should not be more than 65% of your monthly income. Your income determines the loan quantum

  4. Individuals who have a good credit score of 650 and above can only apply for personal loans. Your credit score is important

  5. A valid identity proof – PAN Card, passport, Aadhaar Card • Address proof – Passport, driving license, bank statement of past 3 months • Age proof – Aadhaar Card, PAN card, Voter ID card • Income proof – form 16, previous salary slips, bank account statements for salaried individuals Documents required

  6. Conclusion Understand these important points and check your personal loan eligibility before applying for the loan. Apply Personal Loan Online at https://www.myloancare.in/personal-loan/

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