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A personal loan is a type of loan that you can borrow from a bank or online lender for personal use. Unlike specific loans for a car or a house, a personal loan can be used for a variety of purposes, such as consolidating debt, paying for a wedding or vacation, covering unexpected expenses, or making home improvements.

How is Personal Loan Eligibility Calculated?

Personal loan eligibility is calculated based on the borrower's credit score, Income, and age, among other factors. In order to get an instant personal loan from Quick Rashi, the following personal loan eligibility criteria will have to be fulfilled.

Type of Employment

You must be Salaried or Self Employed (own business) Monthly Income Your monthly in-hand Income should be Rs 13,500/- or more. Income in Bank: Your salary must be directly credited to your bank account.

Credit Score/ CIBIL Score

It would help if you either had a minimum CIBIL score of 650 or a minimum Experian score of 650. Low Credit Score? You may still get a loan based on our credit-assessment model.