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Eligibility for a Personal loan

Minimum income

Minimum income for availing a personal loan in any of the metro cities is 18500 INR, in cans for Tier 1, 2, and three cities the minimum wage is reduced to 12500 INR for availing a personal loan.

Payment stability

You must have proof of your regular income source to be eligible for a personal loan. Keep in mind that cash salary is not considered by any of the banks in India.

Employment stability

Salaried individuals must be working for the same company for the past six months; for self-employed individuals two years ITR is essential.

Credit or CIBIL score

Your CIBIL score must be above 750 to be eligible for a personal loan.If you are confused with all of these, then you can use our - personal loan eligibility calculator.