Your current income.
Years of work experience.
Nature of your job and the company you work for.
Your current obligations i.e. the other installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use
Your past credit history is likely the most important determinant in being able to get a personal loan
You can start the process of applying for a Personal Loan in any of the following ways:
Compare offers from different banks
Check your eligibility basis the income and current loans being serviced
Apply online with multiple banks, to assess the best & competitive loan offers
Among the multiple factors that a Bank considers in determining Personal Loan eligibility are:
Income of all applicants.
Age of the primary applicant
Number of dependents that the applicants have to support.
Assets and liabilities of the applicants
Stability and continuity of the primary applicant's occupation.
Yes! You can avail of a Personal Loan for any of the following:
Construction of a home.
Offers of Fixed and Floating rates as explained below:
Fixed Personal Loan rates: The rate of interest applicable for the Personal Loan is fixed throughout the term of repayment of Loan.
Floating Personal Loan rates: The rate of interest applicable for the Personal Loan changes with change in the Bank's Base rate.