In this world of dynamic change our needs and wants are also changed with passage of time. The immediate needs creates a demand for finance which is only fulfilled by financial support. The support of finance can be provided in the form of instant personal loan which is provided by accessing your credibility and soundness in financial matters.
Personal loan is provided by accessing the credit score of the applicant, credit score is generated by analysing the financial transactions and credit history of the applicant. As it is an unsecured loan which is not provided against any collateral pledge which can be easily recovered by bank incase of default. The high risk involvement of the bank, which leads to high interest on personal loan.
Personal loan can be easily available if your credit history is good which can be measured from the cibil score. generally the CIBIl score of 750 is considered as appropriate for applying for a personal loan. Higher the CIBIL score high possibility of instant approval of personal loan.
The credit history is sound and may provide you the most affordable interest rate on personal loans. So improve your CIBIL if your CIBIl score is low and avail the best offers. CIBIL score can be improved by clearing the outstanding payments.
Apply online: HDFC Personal Loan
Personal Loan eligibility:
Eligibility criteria for both salaried and self-employed persons:
For salaried applicants,
Age 21 years - 58 years.
individuals with minimum monthly income. Rs.17,500
Total years in job/profession 2 Years
Years in current residence 1 Year
For Self Employed individuals
Minimum Age 21 years (self-employed individuals) and 25 years (for doctors)
Maximum age - 65 years minimum TurnoverRs. 40 lakh for non-professionals; Rs. 15 lac for professionals; as per audited financials
Minimum Profit After TaxRs. 2 lac for Proprietorship Firm/Self employed Individuals and Rs. 1 lac for non-professionals as per audited financials business
stability current business for at least 5 years and a minimum of 3 years for doctors
You must be eligible to apply for a personal loan so that the application of your loan can be accepted for instant approval from leading personal loan banks and to avail the best offers.
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