Personal Loan Eligibility Rules 2026
Last updated: (2 weeks ago)
- ✅ CIBIL 650+ (750+ = lowest rate)
- 💰 Salary Rs 15,000+ (fintech) / Rs 35,000+ (banks)
- 🎂 Age 21-60 years, Indian resident
- 📄 PAN + Aadhaar + 3-month bank statement
📊 5 Checks Lenders Actually Run
| Check | Fintech | NBFC | Bank |
|---|---|---|---|
| CIBIL | 600+ | 650+ | 750+ |
| Min salary | Rs 15K | Rs 25K | Rs 35K |
| Age | 21-58 | 21-60 | 21-60 |
| FOIR cap | 65% | 55% | 50% |
| Job stability | 3 months | 6 months | 1-2 years |
❓ Quick Answers
Minimum CIBIL for personal loan?
Banks want 750+ for lowest rates. NBFCs approve at 650-700. Some fintech lenders approve at 600 (higher rate, 24-36%). Below 550 — settle a small credit-card dues first, then apply.
Minimum salary needed?
Rs 15,000/month for fintech and micro-loans. Rs 25,000+ for NBFCs. Rs 35,000+ for banks like HDFC, SBI, ICICI. Salary must be credited to a bank account (not cash) for 3+ months.
Can self-employed apply?
Yes — need 2 years of ITR + business registration + 6-month bank statements. Lenders check average monthly credit (not just declared income). Rate usually 2-3% higher than salaried.
What is FOIR and why does it matter?
Fixed Obligation to Income Ratio = existing EMIs / monthly income. Must be under 50-55% after adding your new EMI. If FOIR is already 45%, banks will cap your new loan tightly.
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