A personal loan is one of the best ways to avail of funds without the worry of having assets on deck to pledge as collateral. An added advantage of personal loans is that there are no restrictions on end-use. Meaning, you can use the loan amount for any activity or purpose that you wish.

That said, there are a few parameters that you need to follow to be eligible for a personal loan in Pune. Most of these ways to obtain personal loans fast pertain to document submissions, certain income and age prerequisites, as well as your credit history. These requirements are also used to gauge your creditworthiness and to approximate your repayment capacity. These requirements, in more detail, are as follows:

1. Provide identification proof such as:

• Voter ID Card
• Aadhar Card
• PAN Card

2. You must have a stable CIBIL score, something in the range of 700-900.

3. You must have a minimum of three years of work experience.

4. You need to have a minimum of 1 year’s experience with your current employer.

5. You must provide proper proof of income.

6. You should be at least 21 years of age when applying.

7. You should be under the age of 65 before the loan maturing.

You must verify your eligibility and other prerequisites before applying for an online personal loan. It helps you avoid rejection of your application and expedites the process to a considerable extent. Get the process started now and keep all your documents handy to avail of a personal loan instantly!

Must Read: Milestones You Can Reach with Personal Loans