{"id":1902,"date":"2018-03-10T22:57:51","date_gmt":"2018-03-10T17:27:51","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=1902"},"modified":"2018-07-27T15:38:26","modified_gmt":"2018-07-27T10:08:26","slug":"personal-loan-eligibility-details","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/personal-loan-eligibility-details\/","title":{"rendered":"Personal Loan Eligibility Details"},"content":{"rendered":"<h2>Personal Loan Eligibility<\/h2>\n<p>Eligibility criteria vary across lenders depending on the borrower\u2019s profile and relationship with the bank. General requirements and limits are outlined below:<\/p>\n<div class=\"row btm-pad\">\n<div class=\"col-md-12 ir-section\">\n<div class=\"row product-table\">\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td>Minimum age limit<\/td>\n<td>21 yrs.<\/td>\n<\/tr>\n<tr>\n<td>Maximum age limit<\/td>\n<td>60 yrs.<\/td>\n<\/tr>\n<tr>\n<td>Employment Type<\/td>\n<td>Salaried\/Self-employed professionals\/non-professionals<\/td>\n<\/tr>\n<tr>\n<td>Employment Status<\/td>\n<td>Employed\/In-business for at least 2 yrs., at least 1 yr. with current employer\/business<\/td>\n<\/tr>\n<tr>\n<td>Minimum Income<\/td>\n<td>Rs.4,000 &#8211; Rs.20,000 net income p.m. (varies according to area &#8211; usually higher in cities)<\/td>\n<\/tr>\n<tr>\n<td>Maximum Loan Amount<\/td>\n<td>Up to Rs.50 lakhs (Based on income, repayment capacity and existing EMIs)<\/td>\n<\/tr>\n<tr>\n<td>Credit Score<\/td>\n<td>CIBIL score 350 &#8211; 900<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Am I Eligible for a Personal Loan?<\/h2>\n<p>Being unsecured advances, lenders do not wish to take on very risky clients. Eligibility depends on different factors:<\/p>\n<ul>\n<li>Income: Higher the income and the more stable it is the better the chances for approval<\/li>\n<li>Repayment ability: This related to the borrower\u2019s financial profile i.e. expenses, assets, and liabilities. Too many claims on his\/her disposable income reduce loan-servicing ability.<\/li>\n<li>Existing EMIs: Existing loan obligations reduce creditworthiness unless the borrower displays a strong ability to take on additional debt.<\/li>\n<li>Credit Rating: Financial history plays an important role in ascertaining a borrower\u2019s creditworthiness<\/li>\n<\/ul>\n<h2>Personal Loan Eligibility of Top Indian Banks:<\/h2>\n<h2>SBI <a href=\"https:\/\/www.antworksmoney.com\/blog\/what-is-personal-loan\/\">Personal Loan<\/a> Eligibility<\/h2>\n<p>State Bank of India offers personal loans for both salaried, self-employed individuals and pensioners. Under its personal loan segment, you can apply for three different types of personal loans, provided you fulfill\u00a0SBI Personal Loan Eligibility\u00a0criteria.<\/p>\n<p>SBI offers &#8211; Xpress Credit Personal Loan, SBI Saral Personal Loan, and Loans to Pensioners.<\/p>\n<h3>Documents required<\/h3>\n<p>You need to furnish the following documents if you are an existing SBI customer:<\/p>\n<ul>\n<li>Passport size photograph<\/li>\n<li>Address proof for self-employed individuals and professionals. Self-employed individuals can submit shop and establishment certificate or Lease deed or Telephone Bill address proof.<\/li>\n<li>Recent salary slips and Form 16 for salaried individuals.<\/li>\n<li>IT returns for the last two financial years for both self-employed individuals and working professionals.<\/li>\n<\/ul>\n<h2>HDFC Personal Loan Eligibility<\/h2>\n<p>HDFC bank offers personal loans to help you accomplish various needs without experiencing financial worries. It has a speedy approval process with easy documentation. HDFC offers you competitive pricing and maintains transparency in the whole process. You can get your personal loan disbursed in 2 days. HDFC\u2019s personal loan products are available at highly competitive interest rates. For HDFC account holders, the bank offers special benefits, interests rates and charges.<\/p>\n<h3>Documents Required:<\/h3>\n<p><i>Personal loan eligibility<\/i>\u00a0in HDFC is based mainly on your income and age. However, documentation differs from person to person. Normally, the following documents are required to be submitted:<\/p>\n<ul>\n<li>Identity proof (you may submit any of the following documents \u2013 passport, voter ID card or driving license).<\/li>\n<li>Address proof (you may submit any of the following documents &#8212; ration card, telephone bill, electricity bill, rental agreement or passport).<\/li>\n<li>Recent 3 months bank statement or 6 months bank passbook<\/li>\n<li>Your recent salary slips.<\/li>\n<\/ul>\n<h2>ICICI Personal Loan Eligibility:<\/h2>\n<p>ICICI bank offers personal loans for various purposes such as education, house renovation, holidays, wedding, buying gadgets etc. Under the ICICI personal loan eligibility process, you can get multi-purpose loans with flexible tenures and rates. You can pay your loans in easy installments and also repay through auto debit, ECS and PDC facilities.<\/p>\n<h3>Documents required:<\/h3>\n<p>There is a difference in the documentation for salaried and self-employed individuals to apply for personal loans at ICICI bank. Salaried employees need to furnish the following documents:<\/p>\n<ul>\n<li>2 passport size photographs.<\/li>\n<li>Identity proof: It could be any of the following documents ( passport, driving license, voters ID or pan card).<\/li>\n<li>Address proof: It could be any of the following documents (lease agreement, utility bill which should not be more than 3 months old or passport).<\/li>\n<li>Bank statement of the last 3 months.<\/li>\n<li>Last 3 months\u2019 salary slips.<\/li>\n<\/ul>\n<p>A self \u2013 an employed person needs to submit the following documents:<\/p>\n<ul>\n<li>Address proof ( It could be any of the following documents: recent utility bills, lease agreement).<\/li>\n<li>KYC documents ( You can submit either your identity proof or DOB proof or address proof).<\/li>\n<li>Income proof of the last two years.<\/li>\n<li>Recent 6 months bank statement.<\/li>\n<li>Address proof of your office.<\/li>\n<li>Proof of office ownership.<\/li>\n<li>Proof of continuity of business.<\/li>\n<\/ul>\n<h2>Axis Bank Personal Loan Eligibility<\/h2>\n<p>Now, you can fulfill manifold dreams with Axis Bank\u2019s personal loan offerings. Axis Bank&#8217;s personal loan products are available to salaried residents as well as NRIs. Amounts disbursed under personal loan schemes from Axis Bank start at Rs.50,000 and go up to Rs.15 lakhs.<\/p>\n<h3>Documents Required<\/h3>\n<p>Documentation requirements vary from individual to individual depending mainly on age and income of the applicant. Normally, the following documents have to be submitted:<\/p>\n<ul>\n<li>Proof of identity which includes any of the following &#8211; pan card\/passport\/ voter ID card\/photo identity issued by a government, defence services, public sector undertaking\/driving license\/photo credit card\/employees ID card, letter\/ aadhaar card.<\/li>\n<li>Proof of income which includes any of the following &#8211; salary slips (latest) \/ form 16 \/ ITR (Income tax Return) of the last 2 years.<\/li>\n<li>Proof of residence which includes any of the following &#8211; bank account statement\/employers letter stating current address\/ passport\/present registered house lease\/ government Identity card with photo and address\/ ration card\/ property tax\/water tax bill\/ electricity bill\/ telephone bill\/ credit card bill.<\/li>\n<li>Proof of signature verification for which you can submit any one of the following: your pan card, passport, processing fee cheque and banker\u2019s verification letter.<\/li>\n<li>Latest landline or mobile bill.<\/li>\n<li>A guarantor may be required in which case relevant documents of the guarantor will have to be furnished.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Personal Loan Eligibility Eligibility criteria vary across lenders depending on the borrower\u2019s profile and relationship with the bank. General requirements and limits are outlined below: Minimum age limit 21 yrs. Maximum age limit 60 yrs. Employment Type Salaried\/Self-employed professionals\/non-professionals Employment Status Employed\/In-business for at least 2 yrs., at least 1 yr. with current employer\/business Minimum &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/personal-loan-eligibility-details\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Personal Loan Eligibility Details&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":10799,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1902","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Personal Loan Eligibility Details of Top Indian Banks - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Personal Loan Eligibility - Eligibility criteria vary across lenders depending on the borrower\u2019s profile and relationship with the bank.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/personal-loan-eligibility-details\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Personal Loan Eligibility Details of Top Indian Banks - 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