Want a Personal Loan? Here Are the 5 Key Eligibility Criteria You Must Meet!

1. Minimum Income Requirements

Lenders assess your monthly income to ensure you can comfortably manage loan repayments.

2. Employment History

Salaried applicants need stable jobs, while self-employed applicants must have an established business.

3. Age Limits

Most lenders require applicants to be between 22 (25 for self-employed) and 65 years.

4. Credit Score

A credit score of 750+ boosts approval chances and helps secure favourable loan terms.

5. Debt-to-Income (DTI) Ratio

Keep DTI below 30%. Use a personal loan eligibility calculator to check your borrowing capacity

Checked Your Eligibility? Apply for a Personal Loan with SMFG India Credit!

Get personal loans of up to INR 30 lakhs* with interest rates starting from 13%* p.a. Apply now !

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* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us