Rs. 10,000 Personal Loan

Lenders usually offer personal loan interest rate after factoring in the credit score, minimum monthly income, EMI/NMI ratio, job profile, employer’s profile, etc. Note that, the interest rates offered vary across lenders.

Top Banks vs NBFCs for ₹10,000 Personal Loans

Below-mentioned is the eligibility criteria set by the personal loan lenders:

• Minimum age of the applicant should be 21 years at the time of loan application.
• Maximum age at the time of loan maturity should be 65 years.
• Salaried individuals, self-employed professionals and self-employed non-professionals are eligible for Rs. 10,000 personal loan.
• Applicants should have a minimum work experience of 1 year to be eligible for personal loan.
• The EMIs should be below 55% of the net monthly income, including the existing EMIs and that of the proposed personal loan.
• Applicants having a credit score of 760 and above usually have higher chances of approval.

Note that, the eligibility criteria might vary across lenders. Therefore, one must check his/her eligibility with the respective lender before making a loan application. Individuals can also check their eligibility using the Personal Loan Eligibility Calculator available at Paisabazaar.

Below-mentioned is the complete list of documents required by the lenders during personal loan application. However, one must get the list of documents from the concerned lender before making a loan application.

• ID proof - Aadhaar card, PAN card, passport, voter ID, driving license
• Address proof - Utility bills (electricity bill, telephone bill, gas bill), Aadhaar card, passport, driving license
• Salary slips for last 3 months
• Bank statement for last 6 months
• Latest ITR

Prospective borrowers can apply for a personal loan of Rs. 10,000 through Paisabzaar in the following steps:

• Login to Paisabazaar App.
• Go to the dashboard and click on “Personal Loan”.
• The app assesses your credit profile and shows customized offers matching the same.
• Compare the personal loan offers and check their interest rates, processing time, documentation and approval chances.
• Opt for the most suitable offer and apply.

A personal loan EMI calculator is a financial tool that allows the individuals to evaluate their total EMIs and interest cost payable throughout the loan tenure. The individuals need to enter the interest rate, loan amount and loan tenure, and get instant results.

An EMI calculator is fast, accurate, time-saving, convenient and easy to navigate. It helps the individuals to assess their loan affordability even before loan application and make informed decisions.