Check Eligibility Online Before Applying For NBFCs Personal Loans

Check Eligibility Online Before Applying For NBFCs Personal Loans

Lenders have their eligibility requirements for NBFCs personal loans. Check the list of eligibility criteria to get a personal loan.

Are you planning for NBFCs personal loans? Do you know if you qualify for one? Lenders have their eligibility requirements. They will not approve your personal loan application if they find you are not eligible for the loan.

An online personal loan falls into the category of a paperless loan. It is a great way to manage urgent expenses such as your family's medical emergencies, a wedding, a vacation, or your child's education. It is also a significant way to manage non-urgent expenses such as something as simple as buying a new appliance or even a mobile phone.

For a personal loan for NBFCs, you need to meet the lender's eligibility requirements. Although eligibility criteria may vary between lenders, there are a number of requirements that each lender must meet in order to approve a loan.

Check eligibility online:

With an online personal loan eligibility calculator, you can check your eligibility for the personal loan you are planning to get. Various leading lenders provide this facility for free. Just write down some basic information, and you get to know if you are eligible or not. The list of the required information-

  • Your full name that is printed on your PAN card
  • Your net monthly income.
  • Your employer type.
  • Your mobile number.
  • Your current residential address.
  • Your Pin code.
  • Desired loan amount.
  • Information about your current EMI.

Eligibility criteria:

  • Your monthly income- Your monthly income is an important factor for all kinds of loans. Lenders want an applicant with an adequate monthly income. The loan tenure will depend on this factor.
  • Your credit score- A credit score of 750 or above is acceptable. The personal loan rates and the amount of personal loan EMI repayment depend on credit score.
  • Your age must fall between 21 and 67 years.
  • Your current liabilities- The last significant factor is your current liabilities. Maybe you are already continuing with an existing loan such as a home loan, education loan, etc. In this case, the lenders want to know the details about them. The lenders just want to make sure that you have enough income to pay off both your existing loan and the new personal loan.
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