- Be an Indian resident
- Fall in the age bracket between 21-65 years during loan application.
- Be employed with a fixed monthly income of Rs. 25,000 or above. This income range is generic in nature; this can vary from one city to another. However, the minimum monthly income varies according to the area and is generally higher in metro cities.
- Have a minimum work ex of 3 years for businessmen and 1 year for working class.
- Have a credit score of 750 or over
A personal loan is a versatile loan type which helps individuals to realize their long pending/ quick financial needs. However, it is given out based on the past credit transactions and the financial boundaries of an individual. One specific benefit of a personal loan is the ability to distribute the personal loan as per the requirement. Repayment (EMIs) done as per the predefined tenure are evenly spread out. The tenure of a personal loan is always fixed at the time choosing a loan. Alongside is determined based on the credit score of the individual. To be eligible for an instant personal loan, an individual must: