Eligibility Criteria for Personal loan
Most banks and financial institutions offer personal loans here we compile the information about Eligibility conditions of personal loan Mostly banks and money lenders recommend the following eligibility criteria for Personal Loan.
For Salaried:
Age should be between 21 yrs to 58 yrs.
Minimum Net Salary should be Rs 8,500/- per month.
Must be an employee of Public & Pvt. Ltd, MNC & Govt.
Must have worked in the organization for at least one year.
Salary must be credited in a bank (for 6 months).
Total Eligibility = Net Salary – (Obligations) X 9 times.
For Self Employed:
Age should be between 25 yrs to 65 yrs.
The turnover should be at least Rs 85,000/- per annum.
Must be doctor, architect, CA, engineer, traders, manufacturer etc.
Should have a minimum 2 years IT Returns with computation of income.
Current account should be more than 1 year old
Company’s profile should be good.
Total Eligibility = Net Income – (Obligations) X 1.25 times