Things every borrower needs to know about personal loan

1
Things Every Borrower Needs to Know About
Personal Loan
2
The eligibility criteria

• Your age should be between 21 years to 60 years.
• Salaried individuals can avail a personal loan.
  Self employed individuals and businessmen are not
  eligible for personal loan
• Net monthly income should be a minimum of Rs. 15,
  000.
• Resident Indians can only apply for the loan

3
Your income determines the loan quantum

• loan amount is determined as a multiple of the
  net monthly income.
• The resultant EMIs should not be more than 65 of
  your monthly income.

4
Your credit score is important

• Individuals who have a good credit score of 650
  and above can only apply for personal loans.

5
Documents required

• A valid identity proof PAN Card, passport,
  Aadhaar Card
• Address proof Passport, driving license, bank
  statement of past 3 months
• Age proof Aadhaar Card, PAN card, Voter ID card
• Income proof form 16, previous salary slips,
  bank account statements for salaried individuals

6
Conclusion

• Understand these important points and check your
  personal loan eligibility before applying for the
  loan. Apply Personal Loan Online at
  https//www.myloancare.in/personal-loan/