Eligibility Criteria & Requirements For Personal

Loan
Andhra Bank

Age Minimum 21 years

Maximum 65 years

Nationality Indian

Employment Type Salaried or Self-employed

Employment status Employed/In-business for at least 2 yrs. and at least 1 yr. with
current employer/business

Minimum Income Rs.4000 - Rs.20000 per month (Varies according to area, which is
higher in cities)

Maximum Loan Amount Rs.70 lakhs (Based on your repayment capability)

Tenure Minimum – 6 months

Maximum – 60 months

Credit Score Preferred 750

 Important documents to be submitted while applying
for personal loans

Documents Completed loan application

Required 3 Passport size photographs

for Andhra Statement of Bank Account/ Pass Book for last six
months
Bank Proof of residence (photo copies of recent Telephone
Bills/ Electricity Bill)
Personal Proof of identify (photo copies of Voters ID card/
Passport/ Driving licence/ IT PAN card)
Loan IT returns for the three years for self-employed
professionals

Form 16/IT returns for the last two financial years for
salaried employees
 Bandhan Bank Personal Loan Highlights

Interest rate Starting from 15% p.a.

Loan Amount Up to Rs. 5 lakh

Loan Tenure Up to 36 months

Eligible Applicant •Salaried Individuals

Types •Self-Employed Individuals

Eligible Age for Loan •Salaried: 21 to 60 years

Application •Self-Employed: 23 to 60 years

Processing Fees 1% of loan sanctioned

 The following documents are needed to avail a Bandhan Bank
Personal Loan:

Documents Common Documents:

Required Duly-filled personal loan application form.

Proof of Identity: Passport/Voter ID card/PAN

for card/Aadhar/Driving license
Proof of Address: Passport/Voter ID card/PAN

Bandhan card/Aadhar/Driving license

Signature Proof: PAN card/ Passport

Bank A Photograph

Personal For Salaried Individuals:

Loan Salary slip for the last 3 months and Form -16 for 1 year

For Self-employed Individuals:

Previous 2 years ITR with computation of Income, Balance

Sheet and Profit & Loss account
 Corporation Bank

Age Minimum 21 years

Maximum 65 years

Nationality Indian

Employment Type Salaried or Self-employed

Employment status Employed/In-business for at least 2 yrs. and at least 1 yr.

with current employer/business

Minimum Income Rs.4000 - Rs.20000 per month (Varies according to area,

which is higher in cities)

Maximum Loan Amount Rs.70 lakhs (Based on your repayment capability)

Tenure Minimum – 6 months

Maximum – 60 months

Credit Score Preferred 750

 IDBI BANK

Criteria  Salaried  Self-Employed  Non-professional &

Pensioners 

Minimum: 21 years Minimum: 21 years Maximum of 75 years at

Age  Maximum: 60 years at Maximum: 60 years at maturity of the personal
maturity of the personal maturity of the personal
loan  loan  loan. 

Minimum net income of Minimum business income Minimum business income

Income 
Rs.1.8 lakh p.a.  of Rs.3.6 lakh per annum  of Rs.5 lakh per annum 

Should be a salaried Should be a self-employed Pensioner with an account

Work Experience  asset or liability with IDBI
individual  individual  Bank 

CIBIL Score  750  750  NA 

Residential Status  Resident of India  Resident of India  Resident of India 
Interest Rate  12% p.a. - 14% p.a.  12% p.a. - 14% p.a.  12% p.a. - 14% p.a. 
Minimum: Rs.50,000 Minimum: Rs.50,000 Minimum: Rs.25,000
Loan Amount  Maximum: Rs.10 lakh  Maximum: Rs.10 lakh  Maximum: Rs.5 lakh 
Loan Tenure  12 months – 60 months  12 months – 60 months  12 months – 60 months 
 Bank Of Maharashtra

Criteria  Salaried 
Age  Minimum: 21 years old Maximum: 60 years old 

Income  •Corporate salaried individuals: Minimum of Rs.3 lakh p.a. and 2 years ITR or Form 16 
•Existing home loan borrowers: Minimum of Rs.2.5 lakh p.a. and 2 years ITR or Form 16 

Work Experience  Should have work experience of at least 2 years and 1 year with the present company 

CIBIL Score  750+ 

Residential Status  Resident of India 

Interest Rate  12.6% p.a. 

Loan Amount  Up to Rs.1.5 lakh 

Loan Tenure  Up to 36 months 

 Private Sector Banks -:

1. Fedaral Bank

Eligibility Criteria Details

Minimum Age 21 years

Maximum Age 60 years at the time of loan maturity

Minimum Net Monthly Income Rs.15,000

Minimum Loan Amount Rs.50,000

Maximum Loan Amount Rs.15 lakh

Loan Tenure 12 – 60 months

Occupation Salaried employees*

Karnataka Bank

•Individuals who are resident of India.

•Minimum age Limit: 21 years.
•Income:
• Salaried Persons : Minimum gross monthly salary ₹10,000/-
• Retired Persons :  Disposable income from other than pension should be available.
• Others : Minimum Annual gross income ₹1,20,000/-

•Amount of Finance:
•Two times of the average annual income of last two years / 24 times of the latest take
home salary whichever is lower subjected to minimum of ₹1 lakhs and maximum loan of
₹25 lakh.
 Dhanlaxmi Bank

Criteria  Salaried  Self-Employed 

Age  Minimum of 23 years  Minimum of 23 years 
Income  Minimum of Rs.35,000 per month  Minimum of Rs.1.8 lakh per annum 

•Self-employed professionals – 3 years

and above 
Work Experience  2 years and above  •Self-employed non-professionals –
total of 5 years of experience and 4
years' experience in current company 

CIBIL Score  750  750 

Residential Status  Resident of India  Resident of India 
Interest Rate  11% p.a.  11% p.a. 
Loan Amount  Rs.1 lakh – Rs.15 lakh  Rs.3 lakh – Rs.15 lakh 
Loan Tenure  12 months – 60 months  12 months – 60 months 
 Karur Vysya Bank
Loan type Amount of loan Rate of interest Tenure Processing fees
Bon Voyage 75% of the travel cost Secured loans – 15% to 36 months 0.30% of the loan amount
(derived after reducing 19% (minimum Rs. 500)
stipulated margin from Unsecured loans - 12%
eligible costs) to 19%

Swarnamitra Minimum loan amount – Secured loans – 15% to 12 months overdraft 0.50% of the loan amount
Rs. 5,000 19% facility (can be
Maximum loan amount Unsecured loans - 12% extended for a further
Rs. 75,00,000 to 19% period of 12 months)

Insta Loan Need-based loans Secured loans – 15% to 72 months 0.50% of the loan amount
19% (minimum Rs. 1,000 plus
Unsecured loans - 12% taxes)
to 19%

IPO Funding Minimum Rs. 5,00,000 Secured loans – 15% to Maximum 15 days 1% of the loan amount
Maximum 50% of the 19% from the sale of the (minimum Rs. 250,
total amount to be Unsecured loans - 12% loan disbursement  maximum Rs. 2,000 plus
invested to 19% taxes)

Quick Loan Maximum Rs. 25,00,000 Secured loans – 15% to 60 EMIs or lump sum Rs. 500
19% at end of the validity
Unsecured loans - 12% period
to 19%

Personal Unsecured loans- Secured loans – 15% to 60 EMIs or lump sum 1.50% of the loan amount
Loan Minimum Rs. 50,000 19% at end of the validity
(Secured / Maximum Rs. 10,00,000 Unsecured loans - 12% period
Unsecured) Secured loans to 19%
Minimum Rs. 50,000
IndusInd Bank

• Age at least 23 years and

less than 58 years for
salaried
• Age at least 28 years and
less than 68 years for self-
employed
• For salaried, 2 years
minimum overall work
experience with 1 year
minimum experience in
current company
• For self-employed, at least 5
years of experience after
relevant qualification
Interest Rate (Monthly reducing
balance)
Processing Fees
Loan Tenure
Pre-Closure Charges
Guarantor Requirement
11.00% onwards
1% - 3%
1 to 5 years
Pre closure permitted after 1
year. 4% of principal
outstanding (plus applicable
tax)
No guarantor required
NBFC –

•Shriram Finance Personal Loan Eligibility Criteria

•The applicant must meet the following eligibility criteria: 
•The minimum age requirement is 18 years, and the maximum age requirement is 59
years. 
•A salaried applicant must be employed for at least 1 year. 
•Self- employed individuals must be employed for a minimum of 2 years. 
•There should be no cheque bounces in the bank statement of the applicant. 
•The borrower will be required to declare his or her existing loans. 
•The applicant should be residing in the same residence for at least 1 year. 
•However, it should be kept in mind that the above-mentioned eligibility criteria do not
guarantee the disbursal of loan. A loan will be approved only after Shriram City Union
Finance verifies and approves the original documents submitted by the applicant.
 Citibank Personal Loan Fees and Charges

Loan Amount  Minimum: Rs.25,000 Maximum: Rs.30 lakh 

Tenure  6 months to 60 months 
Interest Rate  10.50% to 17.99% 
Processing Fees  0.50% - 3.00% 

Citibank Interest Rates for Salaried Individuals

Income  Loan Amount  Interest Rate  Processing Fee
Less than Rs.5 lakh  13.50% to 14.50%  0.99% to 2% 
Less than Rs.60,000 per
month (net take home Rs.5 lakh to Rs.10 lakh  12.75% to 13.75%  0.99% to 2% 
salary) 
Rs.10 lakh and above  11.75% to 12.75%  0.25% to 0.50% 
Less than Rs.5 lakh  13.25% to 14.25%  0.99% to 2% 
Rs.60,000 to Rs.1 lakh per
month (net take home Rs.5 lakh to Rs.10 lakh  12% to 13%  0.99% to 2% 
salary) 
Rs.10 lakh and above  11.24% to 12.24%  0.25% to 0.50% 
Rs.1 lakh and above per Less than Rs.10 lakh  11.24% to 12.24%  0.99% to 2% 
month (net take home
salary)  Rs.10 lakh and above  10.50% to 11.99%  0.25% to 0.50%
 23 years to 60 years for
salaried individuals, and 25
years to 65 years for self-
Age  employed professionals 
Employment Type  Salaried or self-employed 

Rs.25,000 per month for salaried

Net Salary  applicants, and Rs.5 lakh in gross annual
receipts for self-employed professionals
 Business Loan
•Citibank Business Loan Eligibility
•Self-employed individuals, Proprietors, Loan Amount Maximum of
Private Ltd. Co. and Partnership Firms Rs.30,00,000/-
involved in the business of
Manufacturing, Trading or Services. Tenure Minimum of 12 months
•Individuals who have been in the to Maximum of 60
current business for a minimum of 3 months
years
•The applicant should be at least 21 Citibank Business 12% to 18%
years at the time of applying for the Loan Interest Rate
loan, and should be no older than 65
years at the time of loan maturity Loan Processing Up to 2% of the loan
Charges amount 

Prepayment No pre-payment
permitted until
repayment of 12 EMIs

Pre-payment charges 3% to 4% of the

balance amount

Charges for late 2% to 3% per month on

payment of EMI EMI / Principal overdue
 Types of Business Loan

Repayment
Loan Type Nature of loan Loan Amount Processing Fee
Tenure
1% of the limits
Dropline Up to Rs. 20 From 12 months to
Asset-Backed Loan (Upper Cap: Rs.10
Overdraft crore 180 months
Lacs)
Asset-Backed Loan- 1% of the limits
Dropline Up to Rs. 20 From 12 months to
Commercial Real (Upper Cap: Rs.10
Overdraft crore 72 months
Estate Lacs)
Export Packing Pre-shipment As applicable to the
Need-based Up to 180 days
Credit Finance cash credit limit
E-Dealer Finance
Cash Credit Need-based Up to Rs. 30,000 Up to 90 days
Scheme
E-Vendor Finance As per tenure of
Cash Credit Need-based Up to Rs. 50,000
Scheme receivables
Up to Rs. 10
Fleet Finance Term Loan 1% of the limit Up to 66 months
crore
Simplified Small
Term Loan Up to Rs. 25 lakh Rs. 7500 Up to 5 years
Business Loan
As per the bank’s
SME Credit Card Cash Credit Up to Rs. 50 lakh Up to 5 years
instructions
Running A/C OD 1% of the loan
SBI OD Product Up to Rs. 5 crore 12 months
facility amount
 IDFC First Bank Business Loan – Interest Rate & Eligibility

Interest Rate 20% onwards

Loan Amount Min. Rs. 1 lakh & Max. Rs. 9 lakh

Repayment Tenure From 12 months – Max. 48 months

Age Criteria Min. 25 years – Max. 68 years

Min. 3 years (Min. 1 year in same

Business Existence
premises)

Business Profit after tax (PAT)

In positive
after 2 years

5% of the principal outstanding

Foreclosure Charges
(lock-in period of 12 months)
 IDFC First Bank – Business Instalment Loan (BIL) – 2021

Loans to Non-individuals
Loan Type/Category Loan for Doctors Loan for professionals (Entities)

Partnership firms,
MBBS, MDS & BDS Architects, Chartered Proprietors, Private Limited
Availed by  Accountants and Company
professionals Companies and Closely
Secretaries
held limited companies

Interest Rate As per loan requirement As per loan requirement As per loan requirement

Loan Amount Up to Rs. 40 lakh Up to Rs. 25 lakh Up to Rs. 30 lakh

Repayment Tenure Up to 60 months Up to 48 months* Up to 48 months*

Collateral / Security Not required Not required Not required

Non-Banking • Tata Capital Business Loan
Financial
Company (NBFC)

Category/Type/Services Interest Rate, Features, Fees & Charges

Interest Rate 19% onwards

Loan Amount Min. Rs. 5 lakh & Max. up to Rs. 75 lakh

Collateral Not required

Repayment Tenure Min. 12 months & Max. 36 months

Processing Fee 1%-2.5% of the loan amount

Foreclosure charges 4.5% of the principal outstanding on the ongoing business loan

Penal Interest 3% on Overdue Amount per month + GST

Loan Cancellation Charges 2% of loan amount or Rs. 5750, whichever is higher + GST

Bounce Charges Rs. 2000 for every Cheque/ Payment Instrument Dishonour + GST

Mandate Rejection Service Charge Rs. 450 + GST

Document Processing Charges Rs. 1,999 + GST

Swapping Charges Rs. 550 + GST

Post-dated cheque charges Rs. 850 + GST

 2. Lendingkart Finance -: Amount size - Rs. 50,000 to Rs. 1 Crore
a.Eligibility Criteria for Business Loan
• Business should have been in the operations for past 6 months
• Minimum turnover of Rs. 12 lakh or above
• Business should not fall under blacklisted / excluded list
• Physical location of business should not be in the list of negative area
• Charitable institutions, NGOs and trusts are not eligible for small
business loans
• Applicant should not have defaulted with any bank or NBFC in past
b. Documents Required for Loan Application
Pvt. Ltd. / LLC / One Person
Category Proprietorship Partnership
Company

Bank statement (12

      Required        Required        Required
months)

Business registration proof       Required        Required        Required

Proprietor(s) PAN Card

      Required         Required       Required
Copy

Pre-close Proprietor(s)
      Required         Required        Required
Aadhar Card Copy

Partnership Deed Copy    Not required         Required    Not required

Company PAN Card Copy    Not required      Not required        Required
c. Types of Business Loans by Lendingkart
• Bank overdraft / Line of credit facility
• Short term loans
• Equity Funding
• Equipment Financing
• Factoring/ advances
• Trade Creditor
• Loans on accounts receivables