How do I check if I am eligible to apply for a personal loan?
Accepted Answer ✓ Accepted
Check eligibility through these methods: (1) Online eligibility calculators on bank/NBFC websites - enter age, income, employment type, existing obligations; (2) CIBIL score check - free once per year at www.cibil.com; (3) Basic criteria: Age 21-60 years, minimum salary ₹15,000-₹25,000/month (varies by city and lender), credit score 700+, employment: minimum 1-2 years work experience with 6 months in current company, debt-to-income ratio below 50%; (4) Use platforms like BankBazaar, Paisabazaar for multi-lender comparison; (5) Pre-approved offer checks with your existing bank. Soft inquiry doesn't affect CIBIL score.
Suggested Answers
You can check eligibility using online calculators on bank websites by entering your age, income, and employment details. Most lenders need you to be 21-60 years old, earn at least ₹15,000-25,000 per month, and have a credit score above 700. Check your credit score for free once a year.
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