There are two types of loans offered by banks and financial institutions: secured and unsecured. Secured loan, which is given against any asset like vehicle, home, property, etc.; whereas, unsecured loan is offered on the basis of individual’s specific criteria like annual income, credit history, and employment history. Personal loan falls under the category of unsecured loans where the lender first checks for the specific eligibility criteria of an applicant to ensure 100% scope of repayment. Generally, people apply for personal loan to meet their financial needs when they are running out of enough cash. Financial crisis can happen to anyone and to overcome from such situations, getting a personal loan is the best option.
Borrowers can apply for the loan for any value from Rs.10000 personal loan to up to lakhs, though, the approval value depends on individual’s scope of repayment. Borrowers can get quick loan approval if they meet certain eligibility criteria. Different banks can have different eligibility parameters.
Personal Loan Eligibility Criteria
- For salaried applicant – 23 years to 58 years
- For self-employed applicant – 28 to 65 years (minimum age criteria for doctors is 25 years)
- For salaried applicant – Rs.25000 per month in metro cities and Rs.17000 for other cities
- For self-employed applicant – Minimum turnover of Rs.40 lakhs for non-professionals and Rs.15 lakhs for professionals
Above 750 for both salaried and self-employed applicants.
Minimum loan amount
Rs.10000 or above as per the application request of an applicant
Apply personal loan from applykaroo.com
- Quick eligibility check – Applicants can check for their personal loan eligibility in no time. Applykaroo.com comes with latest tools, which can be used for calculating applicant’s eligibility, rate of interest, and monthly installments on the basis of loan tenure. Applicants can also check credit score online.
- Instant quotes – Applicants can get instant quotes from different banks customized as per their profile and income.
- Real-time loan comparison – Applicants can check and compare loan offers from different banks and financial institutions and pick the one that is best along with low interest rate. They can also check for the shared feedback and reviews for banks, which will certainly help them to get the right decision.
- E-approval – No need to visiting the bank branch again and again for completing the long loan approval process. Now get instant e-approval for your personal loan application once the documentation process is successfully completed.
- Flexible tenure – Applicant can flexibly choose the tenure period from 12 to 60 months. However, tenure period can vary according to individual’s income, loan amount, and credit score.
Visit https://www.applykaroo.com/loans/cashe-personal-loan and apply for personal loan today at lowest rate of interest.