Personal Loan Eligibility Criteria

Getting a personal loan is a one-stop solution for all your financial crises. Personal loans are easy to avail of and have a faster approval process with zero collateral needs and no end-use restrictions. You can easily get an instant loan if you match some standard eligibility criteria.

Every loan provider has different personal loan eligibility criteria for different individuals. These criteria determine your creditworthiness and pay out the loan amount accordingly. Here is a list of common eligibility criteria of Investkraft for granting personal loans.

• Age: He or she must be minimum 21 years old and above. The maximum age limit to apply for personal loan is 57 years.
• Citizenship: Applicants must be residents of India.
• Employment: Individuals must have a stable income status at a public/private company.
• Experience: Individual must possess the work experience of a minimum of 1 year with at least 1 month stable employment.
• CIBIL score: Individuals must have a CIBIL score of 700 or above

List Of Documents Required For Personal Loan

The documentation required to process and sanction a personal loan application are standard and uniform across Financial Institutions, but it may vary with different lenders on the basis of a few factors. To get the personal loan from Investkraft, The personal loan documents required are:

• Identity Proof: PAN card, Aadhaar card, Voter ID card, Passport, or driver's license are all acceptable forms of identification.
• Residence Proof: Aadhaar card, voter ID card, passport, property documents, maintenance bills, or driver’s license are all acceptable forms of residential proof. You can furnish the owner with a rent agreement, an electricity bill, or a telephone bill.
• Income Proof: The last three months’ bank statements or the last three months’ wage slips are acceptable forms of proof of income.
• Employment Continuity Proof: Employment Certificate of current employers, Experience Letters, and Relieving Letters from past employers.
• Other Documents: Two recent passport-size photos