Individual Loans – All You Wanted to Know



It is sans bother. No underwriters or security/insurance required. Credits to salaried and independently employed. Unique proposals for Professionals like Doctors, Chartered bookkeepers, Engineers, Architects, Company secretaries, MBA’s and so on. Advances are accessible from Rs. 50, 000/ – to Rs. 20 lakh. Reimbursement choices from 12 to 60 months in simple Emi’s. Advances accessible against proxy pay of any auto, individual or home credit.

Least documentation and quick endorsement. What are the Various kinds of individual advances accessible? Individual advances can be comprehensively partitioned into pay based and non pay based. Pay put together advances are given with respect to the premise of pay each month/of the year for salaried and independently employed individually. Non pay based advances additionally know as proxy credits are given in view of reimbursement histories of Autolå existing individual credits, vehicle advances, home credits and Credit cards from endorsed banks. Least portions paid/Months on books required is 9 a year.

The qualification standards for salaried and independently employed are:

Candidate ought to be Indian residents working and dwelling in Mumbai.
Least age required is 21 years and Maximum 58/60 years.
Least Work Experience-multi month in current organization and 3 years generally speaking.
Least Net Take Home – Rs. 20, 000/ – each month.
Home either Owned, leased or organization gave.
Phone/versatile obligatory at home.
Right now the majority of the banks are giving unstable individual advances just to representatives of Private Ltd , Limited and global organizations.

Independently employed:
Candidate ought to be Indian Citizens Working and dwelling in Mumbai.
Least age required is 23/25 years and Maximum 65 years.
Least 3 years experience in same business.
Least pay Rs. 2. 50 lakh for every anum.
Home/Office – either Owned, leased or organization gave. Either home or office ought to be self possessed.
Phone/versatile required at home and office.
Organization firms , Private Ltd. organizations and considered Limited organizations are qualified.


Various banks have various approaches to computing the qualification. On account of Salaried by and large the greater part of the banks would work out qualification to be 1/1. multiple times of yearly pay. Factors like existing credit liabilities , normal bank balance, history on existing credits , organization profile and credit residency likewise has an impact in choosing qualification.
On account of Self Employed’s the qualification would rely upon the turnover, existing history, net benefit, cash credit/overdraft limit appreciated, line of business, income, bank articulation, existing advance risk in addition to other things. For the most part the advance sum is restricted at 1. 25 to multiple times of money benefit created less existing liabilities or a specific level of turnover less existing liabilities.