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Apply Personal Loan
01
Start by filling out a quick and easy application form on Fincover. Just provide basic details like your name, income, employment type, and desired loan amount. It only takes a few minutes!
02
Our team instantly checks your eligibility across multiple lenders based on your profile. You’ll get real-time feedback on the best personal loan offers tailored to your needs
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Once you choose the best offer, get instant approval, after the Verification. The loan amount is directly credited to your bank account with zero hassle and 100% transparency.
Quick Summary
Eligibility for a personal loan can vary slightly based on the lender’s policies, but here are the most commonly followed standards
Applicants should be between 21 and 60 years of age. Most lenders require a minimum monthly income of ₹15,000 to ₹25,000, depending on the city. You must have been employed with your current organization for at least 6 months. A credit score of 650 or above is preferred, with higher scores getting better interest rates.
Age should typically fall between 21 and 65 years. You should have been running your business or profession for at least 2 to 3 years continuously. The minimum annual income requirement ranges from ₹2 to ₹3 lakhs, depending on the lender. A credit score of 650 or more is generally expected to qualify for competitive loan terms. These criteria help lenders evaluate your repayment capacity and overall creditworthiness before approving the loan.
You will need basic KYC and income-related documents
PAN Card, Aadhaar Card, Passport or Voter ID
For Salaried: Last 3 to 6 months’ salary slips, bank statements, Form 16
For Self-Employed: Last 2 years ITR, bank statements, and business registration documents
You can apply for a personal loan in two ways:
Online: Through loan aggregator platforms like Fincover, lender’s website, mobile app, or . This is faster and paperless.
Offline: By visiting a bank or NBFC branch directly. You’ll need to carry physical documents and fill out an application form.
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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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