We all know that personal loan is unsecured loan and very popular than another loans available in the market. It is easy to avail of a personal loan online in India if you fulfil the eligibility criteria and submit relevant documents.
Let's look at the eligibility criteria:
● Your age must be between 25 to 60 years
● You must be drawing a minimum salary of Rs. 4,50,000 per annum.
● Your CIBIL score must be 750+.
● You must have professional experience of at least one-year in if you are salaried.
Documents you will need:
● Identity Proof: Your PAN card / Driving license / Passport / Voter’s ID
● Address proof: Your Passport / Ration card/ Electricity bill/ Telephone bill
● Age proof: Your PAN / Passport / School certificates
● Business Proof: Audited balance sheets of your business, your ITR.
● Bank statements: Your bank transaction details for the past six months
Steps to follow for online application:
● Visit the website of the vendor you have selected
● Open the application form and fill in the required information
● Upload relevant documents
● Select the loan amount, tenure and interest rate. You may use a personal loan EMI calculator for this purpose.
Additional Read: How To Improve Your Credit Score Before Applying For A Personal Loan?