Personal Loan
Personal Loan Eligibility Checker
A personal loan is an unsecured loan that does not require collateral, making it one of the fastest ways to access funds for urgent or planned expenses. Because there is no asset backing it, lenders lean heavily on your income stability and credit score when assessing eligibility.
Personal Loan at a Glance
| Interest Rate | 10.5% – 24% p.a. |
|---|---|
| Loan Amount | ₹50,000 – ₹40 Lakh |
| Tenure | 1 – 5 years |
Eligibility Criteria
Who Typically Qualifies
- Age typically 21–60 years
- Minimum monthly income of ₹15,000–₹25,000 depending on lender and city
- Credit score of 650+ generally improves approval chances
- Stable employment history — usually 1+ year with current employer or 2+ years in business
Documents Needed
Keep These Ready
- PAN card and Aadhaar card
- Last 3 months' salary slips (salaried) or ITR for 2 years (self-employed)
- Bank statements for the last 6 months
- Passport-size photograph
Next Step
See Your Personal Loan Eligibility Score
Answer a few questions about your income and profile to get an instant, free eligibility estimate — no impact on your CIBIL score.
Check Eligibility NowFAQ
Personal Loan FAQs
Requirements vary by lender and city, but most look for a minimum monthly income between ₹15,000 and ₹25,000 for salaried applicants, and equivalent documented income for self-employed applicants.
No. Personal loans are unsecured, which is why lenders weigh your income stability, credit score and existing obligations heavily during eligibility assessment.
ClearToLend estimates it using an income-multiple approach adjusted for your credit score band, employment type and existing EMI burden (FOIR) — it's an estimate, not a lender-confirmed offer.
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