There are various banks and financial institution which provides personal loans at easy rates and it is advantageous to take a loan from us since for it, no security is required and there is no tracking of its use.

Eligibility for Personal Loan

This article tells us as to what is the eligibility for the personal loan. This eligibility has however been stated in two parts that are for the salaried individuals and the self-employed individuals.

For Salaried individuals

  • Their age must be between 23 – 58 years, and
  • The net salary/net profit should be INR. 3,00,00,000 per annum.

Self Employed

  • Their age must be between 28 – 65 years
  • The total time in business/job must be between 1 year.
  • Their minimum income should be INR. 4,80,000 per annum.

Documents for Personal Loan

  1. Address proof
  2. Age proof
  3. Pan card
  4. Last 2 years ITR
  5. Last 2 years profit and loss statement
  6. Last 6 months bank statement
  7. The balance sheet for the last 2 years
  8. Proof of business existence
  9. Form 16

You can contact the financial institution to take a personal loan.