Looking for a personal loan, but not sure which one to go with? Well, our experts can help you with the best option that suits your need and financial goals.
If you are applying for a Personal Loan, then you need to first understand if you are eligible to apply for it or not. Hence, we have made it simple by listing down the personal loan Eligibility Criteria. Personal Loan Eligibility consists of your Age, Income, CIBIL Score, and more.
|Criteria List||For Saleried||Self-Employed/Businessman|
|Age||Min 21 years - Max 60 years||Min 22 years - Max 55 years|
|Income (Monthly)||Rs. 15,000/ month||Rs. 25,000/ month|
|CIBIL Score||Minimum 750||Minimum 750|
|EMI Criteria||Minimum 60% of Monthly Income||Minimum 60% of Monthly Income|
|Loan Amount Approval||Minimum 50,000 - Manimum 25,00,00||Minimum 50,000 - Manimum 50,00,00|
If you do not match the criteria, but still want some help? You can connect with our experts.
Every bank has a different interest and processing fee. With so many options, you need to understand which bank is suitable for your need. We have compared personal loans from several banks as shown below. If you still have doubts, you can connect with us.
|Bank Name||Minimum Interest Rate||Processing Fee|
|HDFC Bank||11%||Upt0 2.50%|
|AXIX Bank||10.40%||Upto 2.00%|
|ICICI Bank||10.75%||Min 0.25% to 1.50%|
|Kotak Bank||10.50%||Upto 2.50%|
|IDFC First Bank||10.75%||Upto 1.50%|
|Bajaj Finser||13.0%||Upto 4%|
|Bank Of India||10.25%||Upto 2.00%|
|Canara Bank||11.10%||Upto 1%|
|Federal Bank||10.49%||Upto 3%|
When you apply for any personal loan, you need to submit some documents so that we and the bank can verify if the documents submitted by the applicant are genuine or now. Hence, we have listed download below the documents that you need to have handy before you apply for a personal loan.
Make sure you have the below documents.
Make sure that you have these documents ready with you.
No matter if you are salaried or a business man, you will need to have the below documents before you apply for home loan.
If you fails to pay any EMI, the bank will charge you a penallty on the interest on the overdue amount. Banks usually charge a penalty interest of 2%-3% per month. If you miss any EMI ensure you pay it as early as possible t avoide additiona ibterest on the overdue amount.
There can be several reasons for Personal loan rejection. It can be bad CIBIL score, incomplete documents, old case on loan and more. If you apply with Infonetworth.com, we will guide you all the reasons on loan rejection.
Not all the banks will charge you on foreclosure or prepayment of your personal loan. But some banks might ask you some fee on loan closure.
Most of the banks ask that your salary should be minimum Rs. 15,000. But for those with this salary gets a very less loan. if you are looking for a personal loan between 5 lakh to 7 lakh, then we recommend you to apply only if your Salary is above Rs 20, 000. This will increase your chance to apply for big amount personal loan.