A Personal Loan is an unsecured loan that assists the aspirant to fund the personal and professional requirements. The loans are accessible at very affordable interest rates and flexible tenors. However, to avail instant personal loan at a lower interest rate the loan applicants must have a stable source of income and a good credit score, qualifications. Most lenders do not offer a personal loan beyond 50% of the monthly income. In case you fall under a low-income bracket, a few lenders might still offer you a loan considering your future income potential and good credit scores. A few eligibility criteria through which lenders measure the personal loan eligibility these criteria include age, income, CIBIL score, Employment Stability, etc. Requisite Documents to Apply For a Personal Loan
Must Read: How To Get Personal Loan With a Low Salary?
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |