Lucknow, proudly called as the city of Nawab, is a vital center for administration, commerce, finance, aerospace, technology, tourism, among others. Lucknow is one of the oldest and most exotic cities in India. It is a very popular traveler's destination, thanks to its history of fine traders and weavers bringing in much needed ethnicity in Indian fashion.
This has given rise to a blooming network of small businessmen dealing in textiles in the city. The city is also known for delicious food, and is home to some of the best street food in India. However, being part of one of the most populated cities in India brings its own challenges. It takes a lot more effort to fulfil your personal dreams and aspirations — such as expanding your small business, a dream vacation for your family, high quality consumer goods, a top-notch mobile phone, a dream wedding, and so on. Ruloans offers a customized personal loan in Lucknow to help you achieve all of your dreams.
You Need Some Eligibility Criteria for a Personal Loan in Lucknow.
The term Loan Eligibility in broad terms refers to your ability or capacity to avail a personal loan from a bank or an NBFC. Lenders use Eligibility Criteria as a benchmark to decide the quantum of funds to be lent on the basis of your financial credentials such as your income, other obligations, an additional source of income, etc., subject to your age, which decides your personal loan tenure. Income and age are not the only criteria for determining loan eligibility. Combinations of other factors such as your employment, your CIBIL score, etc., are also used to determine personal loan eligibility. Eligibility Criteria required are as listed below:
. Age - Your age becomes an important criterion as a measure of your ability to repay a Personal Loan. As a rule, you will not be denied a personal loan should you be a person aged between 21 to 60 years.
. Types Of Employment - Should you be a salaried individual, you are eligible for a personal loan.
. Employment Status - Your term or period of employment becomes a measure of your reliability to repay a loan in time. A Personal loan for salaried employees dictates that you must be working for an MNC, or a Private, or Public Limited Company, with a minimum work experience of 2 to 3 years.
. Income - The minimum salary or income required for a personal loan for eligibility differs from lender to lender. You as a salaried person should have a minimum salary of Rs. 15,000 per month.
. Credit Score - Lenders assess your creditworthiness or ability to repay a personal loan by accessing your credit score, which derives from your credit history in your credit report. Your credit score affects the loan amount, period of credit, interest rate, and terms that you are offered. Your Credit Score (CIBIL) should be above 650.
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