CreditMantri Finserve Private Limited
4th Floor Sudhama, 36 Vijayaraghava Road,T Nagar, Chennai, Tamil Nadu 600017
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There is no common standard that is used across lending institutions to be eligible for a personal loan
Responded by:Responded on25th May 2015
The criteria varies across different lenders depending upon the borrower’s profile and the relationship with the bank. A few basic requirements and limits that are applicable for most of lenders are outlined below:
Minimum age limit: 21 years
Maximum age limit: 60 years
Employment Type: Salaried/Self-employed professionals/non-professionals
Employment Status: Employed/In-business for at least 2 yrs., at least 1 yr. with current employer/business
Minimum Income: Rs.4,000 - Rs.20,000 net income p.m. (varies according to area - usually higher in metro cities)
Maximum Loan: Amount up to Rs.50 lakhs (based on income, repayment capacity and existing EMIs)
Minimum Credit Score: At least 700
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