The Care of Your Financial Needs

Eligibility Criteria

To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.

• Age: Most lenders have a minimum and maximum age requirement for loan applicants. Typically, you need to be of legal age (18 or older) to apply for a loan.
• Course/Program Eligibility: Education loans are often tied to specific educational programs or courses. Lenders may have a list of eligible institutions and programs that qualify for loans.
• Co-borrower or Guarantor: If you have limited credit history or income, some lenders might require a co-borrower or guarantor (usually a parent or guardian) who will share the responsibility of repaying the loan if you are unable to do so.
• Income/Financial Ability: Some lenders may consider your ability to repay the loan based on your income or your co-borrower's income.
• Credit History: Student's as well as their co-borrower/guarantor's credit history and credit score can play a significant role in determining your eligibility for an education loan. A good credit history can improve your chances of approval and may lead to more favorable loan terms.

Required Documentation

Documentation: You will likely need to provide various documents as part of your loan application, such as proof of identity, proof of admission, income documents, and more for both Student as well as the Guarantor or co-borrower.

• Student-Applicant
• Co-applicant/Guarantor
• Income Proof for salaried Co-applicant/Guarantor
• Income Proof for Self-employed Co-applicant/ Guarantor

Rates & Fees

Frequently Asked Questions