Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Undecided Frozen Question:
Show me another
not able to offer loan information criteria
please i want loan
In Personal Loan  -  Asked by c.mani -  7 months ago
Answers (1)
Answer 1.
If you are looking for a personal loan then you should meet certain eligibility criteria

Age Criteria: The younger you are, more is the probability of you getting a personal loan as you have many earning years ahead to repay your loan. General guideline followed by most banks for personal loan for salaried employees is they must be between 21 to 60 years aged. However for self-employed it is between 25 to 65 years.

Employment Stability: This is a very crucial aspect for personal loan consideration. Unless you are salaried and employed for more than 2 years in the current profession or if self-employed minimum 5 years of total tenure of earnings, you will not be considered as eligible. However, this is discretionary and depends on your current company and your annual compensation, if you happen to be employed with a top notch company where you seem to have a stable and promising career ahead.

Credit Rating: Apart from your company’s performance, individual credit rating holds a lot of value. Having good credit rating increases the probability of getting loan with more flexible option on tenure, amount, EMI and interest rates. In case of any default payment records, huge outstanding loan, fraudulent track records, the banks has every right to cancel the personal loan application or charge higher interest rate, to lower their risk.

Financial Situation: It’s not always about the present, the past financial records will also have a great call on deciding whether you are eligible for a personal loan or not. Having good financial records is the key, will eradicate rating issues and will increase the total amount eligibility. Just in case if you had been irregular with your payments with default(s) or been marked as NPA, any lender will refrain from approving the loan as these will indicate that you are not credit worthy.

Employer: The employer with whom the applicant is working with is the best way to gauge the credibility of the applicant. Being a part of reputed and high turnover companies is an asset when it comes to applying for personal loan, as their employee’s growth is promising.

You can apply from online to get a personal loan from financebuddha.
7 months ago - By Amrita Agarwal
Answer: Open Questions
No question found.
Discover: Resolved Questions RSS
HOTEL: CaℒL Giℛℒs In Kharar 09855660911 Chandigarh Escoℛt SeRvIcE iN Kharar Call gIℛℒ SeRvIcE
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ Girℓs In Aundh-Baner
What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement
View All
Vote: Undecided Questions
No question found.
Compare Personal Loan Rates
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Best FD rates by banks
Show All...
 Select a product:

Compare Personal Loan EMIs
Personal Loan EMI Calculator
Credit Card Balance Transfer Savings Calculator
Car Loan Amount by EMI Calculator
More Calculators...
 Select a product:

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive
Carnival of Indian Personal Finance Blogs #6
Some admissible deductions under Income...
Carnival of Indian Personal Finance Blogs #2
Personal loans in India: Features and...
This is how a bank lends money