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Expert
27-02-2009, 12:05 PM
Eligibility Criteria for taking a loan, may vary from lender to lender. Still the following is a rough information to know whether you are eligible for a Personal Loan and upto how much amount.

For Salaried Persons


Minimum age 21
Maximum Age 60
Minimum Monthly Income Rs 5000 and above
Documents Required Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence).
Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
Bank Statements(latest 6 months bank statement /passbook)
Latest salary slip or current dated salary certificate with latest Form 16



For Self Employed Persons and Professional ( Doctors / Lawyers / Engineers / Architects ), except for the salary statements above, other documents such as


tax return documents,
Balance Sheet / Profit Loss Statement of the firm he owns may be required.


Other than the normal interest on the loan, you may be charged a one time processing fee also for your loan.