Personal Loan Eligibility Criteria

Why Online Personal Loans?

You can take a personal loan to meet any type of shortfall in your finances be it an emergency, higher education fees, wedding or a vacation. With technological advancements, you can now apply online for personal loans and say good-bye to all lengthy physical paper-work. CrediFiable offers personal loans from Rs.50 Thousand to Rs.5 Lakhs for all your bigger and smaller needs. When you take personal loans online, there is minimal paper-work and you experience a zero-hassle loan application process.

To avail an online personal loan from us, it is must that you know our personal loan eligibility criteria.

Factors that Determine Personal Loan Eligibility

Personal loans are unsecured loans i.e. there is no underlying security for your loan. Hence your loan eligibility is dependent on other factors.

Some of the common factors which determine your personal loan eligibility are as below:

  • Demographics details such as age, area of residence
  • Employment details such as monthly salary
  • Credit Score which shows your financial history with respect to borrowed money

Personal Loan Eligibility Criteria

To be eligible to apply for personal loans online from CrediFiable, a borrower must:

  • 1. Be a resident of India
  • 2. Be salaried and have a gross annual income of more than Rs 3,00,000 per annum
  • 3. Have a valid PAN Card
  • 4. Have a valid Bank account in India
  • 5. Have a College / University degree

Personal Loan Documents Required

When you apply for personal loan online on CrediFiable platform, documents are required at two stages. Once, while filling the application form and secondly when your personal loan application has been approved. List of documents required for personal loan for both the stages is as below:

Personal Loan Documents Required During Application Process:

  • Bank Statements in which salary is credited for the last three months
  • Credit Card Statements for the last three months (if any)

Documents Required for Personal Loan When Application Has Been Approved:

  • 1. Pan Card
  • 2. ID proof which can EITHER be an Aadhar Card OR Voter ID OR Passport
  • 3. Current Proof of Residence which can EITHER be Rental Agreement OR Electricity Bill OR Mobile / Landline Bill OR Passport
  • 4. Income Tax Returns for last 3 years or as applicable
  • 5. Salary Slips for last 3 months
  • 6. Copy of College / University Degree Certificates
  • 7. Copy of Transcripts and relevant Test Scores as declared in the application
  • 8. HR Letter From his / her Company

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