Personal Loan Eligibility 2024: The personal loan scheme is very beneficial for a person to get financial help from banks and nonbanking financial companies to their customer. The loan amount can be provided for multiple purposes including medical expenditure, educational loan, home decoration and renovation, travel purposes, attending any function or festival, etc. the companies and banks are providing loan amounts to their customers without getting any collateral from your customers. So it is an unsecured loan scheme for landers as they will not have a complete guarantee to receive their fund back from their customers. So they can check Personal Loan Eligibility 2024 criteria from their customers to provide personal loans. So if you are searching for a personal loan scheme 2024 then you should follow the Personal Loan Eligibility 2024 which are discussed in this article.
The Personal Loan Eligibility 2024 is prepared by the lender or the company which is providing personal loans to their customers. Most companies are providing personal loans without any problem to the salaried person who is getting monthly salary from their company as they will have insecurity to return the loan amount timely. However, self employed and other individuals can also get personal loans from the bank by following the specific eligibility criteria.
Personal Loan Eligibility 2024 for employed person
If you are doing a job in any company and getting a monthly salary in your bank account then you have to follow the following eligibility criteria to apply for personal loan:
- The applicant should be only Indian citizen
- You should work in your company from at least 6 month to 1 year.
- The applicant should be engaged in employment from at least 2 years
- The employee should pay tax to the government and should have TDS or form number 16 which will be provided by the employer.
- The age of the applicant should be more than 21 years and the maximum age should not be more than 58 years at the time of submitting the last EMI.
- The minimum salary of the applicant will vary from different companies but it should be at least 15000 per month.
- CIBIL score of the applicant should be more than 750 and the time of applying for personal loan
- There are two types of employment including employment in organised company and unorganised sector. So your company should be an organised sector where you are receiving your salary in your bank account per month.
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Personal Loan Eligibility 2024 for self employed
If you are a businessman or a self employed person who is earning from their own business, then you have to follow the following eligibility criteria for getting personal loan:
- Only Indian citizens will get personal loan in India
- The minimum age of the applicant should be more than 21 years, however the maximum age should not be more than 65 years at the time of applying.
- The application should have a good turnover from the recent year.
- Applicant have to maintain at least 2 years of GST while applying for personal loan
- The business of the applicant should be registered with Government of India. If you are running a small business then you can apply for udyam portal registration 2024 which is free of cost.
- The applicant should have GST number
- The loan amount for different business will be provided differently by the company where you have to select a good loan scheme in the bank,
However banks are also providing mudra loan, MSME loan, Vishwakarma loan etc for Indian citizens who are running a small business or traditional businesses where you can get easily loan amount from RS 3 lakh to 10 lakh according to the scheme.
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Check Personal Loan Eligibility 2024 online
All the banks and companies are providing online facilities to check the personal loan eligibility of their customers from their official website. So you can visit the official website of your bank where you have a Bank account or looking for personal loan and click on the personal loan section, after that you will find the eligibility section where you have to enter your mobile number and other person details, after that bank will verify your information and show your eligibility criteria, apart from this company will also contact to their customers if they are eligible for getting personal loan 2024. So you can compare multiple personal loan scheme from different banks and small financial companies and can apply according to your need.