Personal Loan Eligibility Criteria
Understanding the basic parameters used by underwriting engines to approve loan applications.
When applying for an instant personal loan online, lenders evaluate specific risk factors. Meeting these baseline parameters increases approval speed and lowers interest rates. Here is a clear breakdown of Credit91’s eligibility rules:
1. Employment & Profile Limits
Lenders prioritize borrowers with stable cash flows. Currently, our NBFC partners approve applications for salaried professionals who receive direct bank transfers from registered corporate employers, government departments, or proprietary firms.
2. Age & Cost Brackets
Borrowers must satisfy the following age limits at the time of signing:
- Minimum Age: 21 years old.
- Maximum Age: 58 years old at the time of loan tenure completion.
3. Dynamic Salary Thresholds
Salary requirements scale depending on the cost of living in your city of residence:
| City Classification | Minimum Net Monthly Salary | Example Cities |
|---|---|---|
| Tier 1 Cities | ₹20,000 per month (in-hand) | Delhi, Noida, Bangalore, Mumbai, Pune, Navi Mumbai |
| Tier 2 Cities & Others | ₹15,000 per month (in-hand) | Jaipur, Indore, Lucknow, Bhopal |
4. Bureau & Credit Score Brackets
To borrow safely, a healthy repayment history is crucial:
- Ideal Credit Score: A CIBIL rating of 750 or above unlocks the lowest interest rates starting at 11.99% p.a.
- Minimum Threshold: Applicants with a score of 650+ are eligible for review, subject to NBFC underwriting.
- Recent Defaults: Profiles with active loan defaults, outstanding overdue payments, or settlements within the past 12 months are generally downranked.
Eligibility Documentation Checklist
To verify these criteria, our digital portal will request one-time OTP authentication and secure document scans: