Ahmedabad is the largest non-coastal industrial center in Western India. It is included in the elite list of the top 10 fastest growing cities in the world. The city has an enormous and varied range of industries comprising of textiles, pharmaceuticals, plastics, metal, machinery, chemicals, electronics, and passenger cars. This cultural an economic powerhouse of Western India has also flooded the pages of various magazines and newspaper as one of the best cities to live in India. You can deduce from these facts that Ahmedabad offers enviable and expanding job opportunities aided by a booming economy resulting i increased wealth in the hands of people. The inevitable consequence is rising aspirants and increasing ambitions to seek loans to fulfill demands from the most basic to the most affluent, be it debt consolidation, home renovation, wedding etc. Ahmedabad is also home to some of the premium institutes of the world like IIM Ahmedabad, MICA, IIT Nirma University, etc. Ruloans Understands your needs and aspirations as a resident of the city an thus, so we offer a wide variety of personal loan in Ahmedabad customized to your needs.
Personal Loan in Ahmedabad - Eligibility Criteria
The personal loan eligibility refers to your assets or ability to qualify for a personal loan from a bank or NBFC. Lenders use the eligibility criteria as a benchmark to decide on the amount of money to borrow based on your financial credentials such as your income, other obligations, an additional source of income, etc. depending on your age, which determines the duration of your personal loan. Income and age are not the only criteria for determining eligibility for a loan. Combinations of other factors, such as your employment, CIBIL score, etc., are also used to determine your personal loan eligibility.
The required eligibility for personal loan in Ahmadabad are listed below:
Your age is an important measure of your ability to repay a personal loan. As a general rule, you can avail the facility of a personal loan if you are aged between 21 and 60.
If you a salaried individual, you are eligible for a personal loan. The period of your employment is a measure of your credibility to repay your loan on time. Personal loans for salaried employees states that they should be working for a multinational corporation, private or public limited company with at least 2–3 of work experience.
The minimum wage or income required for a personal loan to qualify is different for each borrower. As a person with a salary you must have a minimum wage of Rs. 15,000 per month.
Lenders access credit scores derived from the credit history of credit reports to assess the ability or creditworthiness of a personal loan. Your credit score affects the loan amount, credit period, interest rates, and terms offered. The credit score (CIBIL) must be 650 or higher
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