Personal Loan

Personal Loan

Personal loans are an unsecured type of loans that is famous to meet prompt necessities. It is multi-reason in nature and subsequently can be utilized for different purposes including wedding, home redesign, travel purposes and that's just the beginning. In addition, there is no limitation for the sum acquired and can be utilized for any reason they need. Truth be told, a personal loan can help you fabricate your acknowledgment quicker when looked at for different types of credit. This is a direct result of the risk it conveys due to being unsecured. All things considered, an individual advance can balance any brief monetary emergency.

Eligibility criteria for a Personal Poan

To get a personal loan, the following are basic eligibility criteria.

For Salaried
  • Minimum Age: 21 years
  • Minimum Monthly Income: 20,000/-
  • Work Experience: Minimum work experience should be 1+ years & with current employer minimum 1 month

For Self Employed Professionals
  • Minimum Age: 25 years
  • Minimum Annual Income: 5,00,000/- per year
  • Work Experience: Minimum 3 years in business with proper Certification & Licence

Documents Required for Personal Loan

For Salaried
  • Identity & Age Proof: Pan Card, Aadhar Card, Voter ID, Passport
  • Address proof: Passport, driving licence, Voter ID, utility bills (electricity/water/gas), Registered Rental Agreement
  • Bank statement for the last 6 months recent salary credit statement and offer letter.
  • Salary Slips along with latest Form 16 or ITR or your company offer letter

For Self Employed Professionals
  • Identity & Age Proof: Pan Card, Aadhar Card, Voter ID, Passport
  • Residence proof: Passport, Driving licence, Voter ID, Utility bills (electricity/water/gas)
  • Date of Birth proof: Passport, Driving licence, Pan Card, Birth Certificate, 10 th or 12 th Marks Card, or Aadhar Card
  • Bank Statements: 6 months recent bank statement
  • Latest Income Tax Returns
  • Last 2 years Balance Sheet and Profit & Loss Account and duly certified by a Chartered Accountant
  • GST filing if availablet