What are the requirements for SBI personal loan?

SBI Personal Loan Eligibility Criteria

Criteria Salaried
Age Below 76 years
Minimum Gross Monthly Income Rs.50,000
EMI/NMI Ratio Not above 50%
Residential Status Indian residents

>> Click to

Also, can I get loan without income proof?

Is it possible to get a personal loan for self-employed without income proof? No, without income proof you cannot avail personal loans. You will need to provide bank statements as proof of your income.

Keeping this in view, do personal loans check income? PERSONAL LOANS DO NOT REQUIRE AVAILABLE INCOME VERIFICATION. Lenders won’t work with you if you don’t have steady income. These are only a few of the options available to you for financing. Individual loans cannot be obtained by those without a source income.

Similarly one may ask, how does a bank verify documents?

Most banks require address proof, identity proof, income proof documents, a duly filled loan application form along with passport-size photographs to process a personal loan. Documents Verification Process: The bank takes 1 or 2 days to analyse the documents provided and forwards it to the verification department.

How many payslips do I need for a personal loan?


How much loan can I get on 60000 salary?

However, if you are deliberating on the loan amount with how much loan I can get on a 60,000 salary, the approved amount should be close to

Salary Expected Personal Loan Amount
Rs. 40,000 Rs. 10.80 lakhs
Rs. 50,000 Rs. 13.50 lakhs
Rs. 60,000 Rs. 16.20 lakhs

Is Cheque required for personal loan?

No, blank cheque duly signed by you not to be given. You can give mandate to the bank to debit your account for EMI . In normal course bank never insist for blank cheque duly signed for loan repayment.

Is ITR required for personal loan?

ITR – When you apply for personal loan as a self-employed, it is mandatory to have filed ITR in previous years. Banks and NBFCs will give you a loan if you have filed ITR of minimum 2 years.

What are 3 documents needed for a personal loan?

Documents Required for Personal Loans

  • Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
  • Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
  • Latest 3 months Bank Statement (where salary/income is credited).

What are the documents required for getting personal loan?

Documents to Apply for a Personal Loan

Identity proof (Passport, PAN card, driving license, voter ID) Signature Proof (Passport, PAN card, etc.) Address proof (Passport, utility bill – gas or electricity bill, voter ID, driving license, ration card, rental agreement, bank statement) 6 months bank statements.

What is the best way to get a personal loan?

Here’s how you can find the best personal loan for your needs.

  1. Identify the purpose of the personal loan.
  2. Prequalify for a personal loan.
  3. Fill out an application.
  4. Compare rates and fees.

What proof of income do you need for a personal loan?

Evidence of income may include recent tax returns, monthly bank statements, pay stubs and signed letters from employers; self-employed applicants can provide tax returns or bank deposits.

Which bank gives loan easily?

HDFC Bank customers can get Personal Loans with minimal or no documentation. In fact, if they are pre- approved for a Personal Loan, they can easily apply for it. Lower interest rates: Interest rates on Personal Loans are lower than other sources.

Who is eligible for personal loan?

You have to be at least 21 years old when you apply for a loan, and a maximum of 65 years of age, at the time of loan maturity. Select your net monthly income (or yearly profit after tax if you are self-employed). Please note that this amount should be after all tax deductions.

Leave a Comment