The qualifications for a personal loan applied online at Muthoot Finance should fulfil the requirements of total salary, age, years of service remaining, total years of work and the applicant’s risk profile and credit score. It is important to remember that Muthoot Finance can reject the application for a personal loan applied online due to any specific criteria being unfulfilled.
The applicant for a personal loan with Muthoot Finance should submit their proof of income for the past three months. It will be helpful for Muthoot Finance representatives to process the application for personal loans online quickly. Salaried employees should provide three months of salary proof and bank statements along with IT returns. On the other hand, self- employed individuals can provide P&L statements, IT returns and other similar proof for the approval of their applications for personal loans done online.
Salaried individuals need to provide details regarding their employer, years of working with the employer and their total years of work. It is also important to provide salary proof dating back to three months as a personal loan cannot be granted without income proof. Self-employed individuals need to provide their IT return proofs, P&L proofs and other necessary documents to ensure that the personal loan is granted without any issues.
At the time of applying for a personal loan service, it is necessary for the applicant to have a good credit score. It provides a positive reflection on the applicant’s personal history with respect to previous loans and debts. A higher credit score increases the chances of the personal loan is granted. It is advisable for you to get in touch with a representative of Muthoot Finance to learn more about the personal loan service.
The age range to apply for a personal loan online is 21 to 67 years of age with Muthoot Finance. However, it is important to note that the individual applying for a personal loan is 18 years. Due to the high risk factor, younger individuals with a few months of working experience might not be able to get the loan. On the other hand, older applicants, especially those close to retirement age, they are also may not be able to apply for a personal loan online.
A personal loan helps in fulfiling any emergencies that the applicant can complete within a short time. Due to its easy eligibility and documentation, it is also called an all-purpose loan.
Muthoot Finance helps you in the verification process of the personal loan service.
However, there are no extra charges payable when availing personal loan services.
The duration of verifying documents for an online personal loan application differs from applicant to applicant. However, Muthoot Finance can provide you with personal loans as soon as the verification process is completed. The amount requested is disbursed according to the payment method chosen at the time of filling out the loan application.
The most important documents required for a personal loan are as follows:
These are accompanied by any other important documents for personal loan that are requested by the Muthoot Finance representative at the time of personal loan application.
Any applicant who is looking for a personal loan needs to submit all the documents and ensure that they are verified by Muthoot Finance representatives. As soon as the application and documents are verified, the applicant can get their loan according to their chosen payment method. Applicants can also get a personal loan online after they have submitted copies of all the necessary documents through the application portal on the Muthoot Finance website.
The minimum limit for an applicant to get a personal loan depends on their monthly income and expenses. It also depends on the individual’s credit score and risk factors. Muthoot Finance provides personal loans starting from INR 50,000 according to the applicant’s employment type. It is necessary to analyse the risk factors and credit history of the applicant for instant personal loan approval.
