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Pre-loan Eligibility checker
Last updated on: September 9, 2025
Looking to get a personal loan in India in 2025? This guide explains the key eligibility criteria across top banks and NBFCs, including income, age, credit score, and employment requirements. Most banks require a minimum income of ₹15,000–₹30,000/month, credit score above 700, and age between 21–60 years. Eligibility also depends on your debt-to-income ratio, job stability, and documentation. The guide also debunks common myths—such as needing a perfect credit score or being salaried—to help you improve your chances. Use the tables and step-by-step eligibility checks to find the best personal loan options suited to your profile.
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Personal loan eligibility refers to the qualifications and conditions an individual must meet to be considered for a personal loan from a financial institution or lender. It typically involves what lenders use to evaluate a borrower’s creditworthiness
| Lender | Eligible Loan Amount | Minimum Eligible Income | Eligible Age | Min Credit Score |
|---|---|---|---|---|
| HDFC Bank | Up to Rs.40 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Axis Bank | Up to Rs.50 Lakh | Rs. 15,000 per month | 21-55 years | 750 |
| ICICI Bank | Up to Rs.50 Lakh | Rs. 30,000 per month | 23-55 years | 750 |
| BOB Bank | Up to Rs.25 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| SBI Bank | Up to Rs.25 Lakh | Rs. 25,000 per month | 21-60 years | 750 |
| IndusInd Bank | Up to Rs.25 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Yes Bank | Up to Rs.25 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Standard Chartered Bank | Up to Rs.25 Lakh | Rs. 50,000 per month | 21-55 years | 750 |
| IDFC First Bank | Up to Rs.50 Lakh | On a case-by-case basis | 23-55 years | 750 |
| Kotak Mahindra Bank | Up to Rs.20 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Bandhan Bank | Up to Rs.10 Lakh | Rs. 15,000 per month | 21-55 years | 750 |
| Punjab National Bank | Up to Rs.15 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Lender | Eligible Loan Amount | Minimum Eligible Income | Eligible Age | Minimum Credit Score |
|---|---|---|---|---|
| Tata Capital | Up to Rs.10 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| InCred | Up to Rs.10 Lakh | Rs. 25,000 per month | 21-55 years | 700 |
| Finnable | Up to Rs.5 Lakh | Rs. 15,000 per month | 21-55 years | 650 |
| Aditya Birla | Up to Rs.15 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| PaySense | Up to Rs.5 Lakh | Rs. 15,000 per month | 21-55 years | 650 |
| Poonawalla | Up to Rs.10 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| SMFG India Credit (Fullerton) | Up to Rs.10 Lakh | Rs. 20,000 per month | 21-55 years | 700 |
| LendingKart | Up to Rs.10 Lakh | Rs. 25,000 per month | 21-55 years | 700 |
| Axis Finance | Up to Rs.20 Lakh | Rs. 35,000 per month | 21-55 years | 750 |
| Mahindra Finance | Up to Rs.15 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Bajaj Finance | Up to Rs.25 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| L&T Finance | Up to Rs.15 Lakh | Rs. 25,000 per month | 21-55 years | 750 |
| Feature | Minimum Eligibility |
|---|---|
| Age | 21 years to 60 years (depending on the lender) |
| Citizenship | Indian citizen |
| Employment | Salaried or self-employed |
| Income | Starting Rs.15,000 (Minimum income threshold set by lender) |
| Credit Score | Good credit score (typically above 700) |
| Employment Stability | Minimum employment tenure (usually 1 year) |
| Documentation | Identity proof, address proof, income proof, bank statements |
1. Visit the Lender’s Website
The first step in checking your personal loan eligibility is to visit the official website of the bank or financial institution from which you intend to apply for the loan.
2. Navigate to the Personal Loans Section
Once on the website, locate the section related to personal loans. This section typically contains information about the types of personal loans offered, their features, and the eligibility criteria.
3. Review the Eligibility Criteria
Carefully read through the eligibility criteria provided by the lender. Take note of the specific requirements related to age, employment status, minimum income, credit score, employment stability, documentation, existing loans, residency status, and any other criteria mentioned.
4. Use Online Eligibility Calculators
Many banks offer online tools or calculators that allow you to input your details to check your eligibility for a personal loan. These calculators provide an estimate of the loan amount you may be eligible for based on your financial information.
5. Contact Customer Support for Clarifications
If you have any doubts or need clarification on specific eligibility criteria, consider reaching out to the customer support of the bank or financial institution. They can provide guidance and address any questions you may have.
In addition to the baseline criteria outlined above, lenders may consider several other factors when evaluating your personal loan eligibility:
Debt-to-Income Ratio (DTI):
This metric represents the percentage of your gross monthly income allocated towards debt obligations, including existing loans, credit card balances, and housing expenses. Lenders typically prefer a DTI of 43% or lower, indicating that your debt burden is manageable.
Employment Stability:
A stable employment history demonstrates your ability to generate consistent income, making you a less risky borrower. Lenders generally prefer applicants who have been employed with their current employer for at least two years.
Credit History:
Your credit history provides lenders with insights into your past borrowing behavior and repayment habits. A good credit history, typically reflected in a credit score of 750 or above, indicates a responsible financial approach.
If you aspire to secure a personal loan, consider these strategies to improve your chances of approval:
Credit Score Improvement:
Check your credit report and address any discrepancies or delinquencies. Timely payments and responsible credit management can significantly enhance your credit score.
Reduce Debt Burden:
Take steps to lower your overall debt obligations, thereby improving your DTI ratio. This may involve consolidating debts or paying down existing loans.
Employment Stability:
Maintain a consistent employment history and avoid frequent job changes, demonstrating your financial stability to lenders.
Strong Co-signer:
If your credit profile is relatively weak, consider enlisting a co-signer with a strong credit history. This can significantly increase your chances of loan approval.
Remember, personal loan eligibility criteria can vary among lenders. It is always advisable to compare interest rates, terms, and eligibility requirements from multiple lenders before making a decision.
Myth 1: A High Income Guarantees Approval
Truth:
While having a higher income can increase your eligibility for a larger loan amount, it does not guarantee approval. Lenders consider various factors, including your credit score, existing debts, and repayment capacity. It’s possible to have a high income but a low credit score, which can impact your eligibility.
Myth 2: A Perfect Credit Score is Mandatory
Truth:
While a good credit score is beneficial, it’s not the sole determinant of loan eligibility. Some lenders offer personal loans to individuals with lower credit scores, albeit with higher interest rates. It’s essential to explore options tailored to different credit profiles.
Myth 3: Salaried Individuals Have an Advantage Over Self-Employed
Truth:
Both salaried individuals and self-employed professionals can qualify for personal loans. Lenders have specific criteria for each category, and self-employed individuals may need to provide additional documentation to verify their income. It’s important to understand the requirements for your employment status.
Myth 4: Existing Loans Automatically Disqualify You
Truth:
Having existing loans doesn’t automatically disqualify you from getting a personal loan. However, it can affect the loan amount you’re eligible for and your debt-to-income ratio, which lenders consider when determining your eligibility. It’s advisable to manage existing debts responsibly.
Myth 5: Rejection from One Lender Means Rejection Everywhere
Reality:
Each lender has its own set of eligibility criteria and assessment processes. Just because one lender rejects your application doesn’t mean others will do the same. It’s possible that a different lender may have criteria that align better with your financial profile.
Myth 6: Age Is a Barrier for Personal Loans
Truth:
While there is a minimum and maximum age limit set by lenders, being in the specified age range doesn’t guarantee or deny eligibility. It’s more about assessing your ability to repay the loan based on your financial situation, rather than solely considering your age.
Myth 7: Only Big Banks Offer Personal Loans
Truth:
While established banks are well-known for their loan offerings, many non-banking financial institutions (NBFCs) and smaller banks also provide personal loans. These institutions may have more flexible eligibility criteria and may cater to a broader range of borrowers.
Personal loans can be a great way to borrow money for a variety of purposes, but it is important to understand the eligibility requirements before applying. By improving your credit score, reducing your debt, and providing lenders with accurate information, you can increase your chances of qualifying for a personal loan and getting the best possible interest rate.
1. How to calculate personal loan eligibility?
Personal Loan Eligibility(Quick Check):
2. How do banks calculate personal loan eligibility?
Banks usually evaluate three primary criteria:
They may also factor in:
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.
The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.
This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
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