Are you Eligible for that Personal Loan?

By BankBazaar | September 3, 2015

Do you have it in you? We’re talking about Personal Loans, of course!

Before your plans take shape and you think of ways to use that money, there’s something really important you need to remember. Let’s talk ELIGIBILITY!

  Get a Quote! >>

How Old Are You?
Salaried individuals need to be between the age of 21 and 61 while if you’re self-employed, 21 to 60 years is where you need to be. Not too young, not too old. Interesting.

Stability Check
A salaried person with a minimum of 2 years of professional service with 1 year in the current profession. A self-employed person with a minimum of 5 years of total earning tenure with at least 2 years in current profession. These numbers are flexible though, depending on the bank.

Moolah Schmulah
The size of your pay check is another important factor. Banks specify minimum income levels so that they know that you can pay them back. If you don’t rake in a certain amount – ZILT!

SCORE! (Credit)
Delays and defaults in paying EMIs for loans or credit cards will lower your eligibility. A good credit score will work in your favour…and it’s that simple!

Whom Do You Work For? Eh?
Public sector employees and those working with reputed and established private companies are better eligible for availing personal loans as compared to others as there is stability in their income. Boom!

Let these factors also fit into the grand scheme of things. If it all checks out, take a look at our Personal Loan offers!
  Apply Now! >>

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

2 thoughts on “Are you Eligible for that Personal Loan?

  1. Rajeshwari.

    Good after noon sir I want personal loan very urgent. I return back cash not delay, lot of time I sending messages.

    Thank you,
    Yours Sincerely,
    cell : 9731856529 Rajeshwari

    Reply
    1. Team BankBazaar

      Hi Rajeshwari,

      Click on this link to apply for the loan.

      Cheers,
      Team BankBazaar

      Reply

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