Some Common FAQs

Personal loans can be used to cover a wide range of personal expenses, including home renovations, unexpected medical bills, education, a dream vacation, and more.

The documents that are required to avail a personal loan are:

• PAN Card
• Aadhaar Card
• Income Proof like Salary slip or Form 16
• Address Proof like Rental Agreement or Utility bill
• Bank statements that reflect your income.

Please note that banks may request additional documents in addition to those listed above, depending on their eligibility criteria and your profile.

The following are the eligibility criteria for salaried employees to get a personal loan:

• Minimum Age: 21 years
• Minimum Salary: Rs.15,000/month (should be reflected in the bank statement)
• At least 1 year of job stability.

The following are the eligibility criteria for self-employed professionals to get a personal loan:

• Minimum Age: 21 Years
• Minimum 1 year Income Tax Return
• Minimum 1 year business stability

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When approving loans, banks consider the applicant's age, income, and CIBIL score first and foremost.

The CIBIL score required for a personal loan is 650 or more.