No loan is granted if an applicant fails to fulfil the eligibility criteria. Before you approach for a Holiday Loan, you must ensure you tick all the right boxes. My Mudra loans require minimum documents.
Our Eligibility criteria:
a. Applicantsnt should be between 23-58 years of age
b. You have to be salaried, professional, or self-employed with a minimum turnover of INR 40 lakhs
c. Your salary should be at least INR 20,000/ month to apply for a Holiday Loan
d. Must have 2 years of experience
e. You have to be residing at a place for a minimum period of 1 year
Keep your documents in order so that we can process your application fast. If your documents are ready, our loan processing team approves it for the quick disbursal of funds.
The necessary documents we need are:
1. Duly signed application form with your latest photograph
2. Voter ID, passport, driving license, or PAN card, as identity proof
3. Address proof that can be lease or license agreement or utility bill
4. Property documents or electricity bills for house ownership proof
5. Bank statement for last 6 months
6. Salary slips of the last 3 months or current dated salary certificate with the latest credit
Documents required for self-employed applicants-
a. Duly signed application form with your latest photograph
b. Voter ID, passport, driving license, or PAN cards as your ID proof
c. Address proof which may include lease or license agreement or utility bill
d. Property documents or electricity bills for house ownership proof
e. Office address proof- maintenance bill, utility bill
f. Office ownership proof such as property documents
g. Saral Copy for 3 yrs, Shop Establishment Act, Any Tax Registration Copy, Company Registration license for a business existence proof
h. Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.
i. Latest 1-year bank statement
Follow these tips to improve your Holiday Loan Eligibility –
Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting
Try to build a CIBIL score above 750
Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness
Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.
A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.
You are doing an awesome work as team. Faster service with immediate response is quite amazing. Will recommend to everyone in need, faster documents processing …….Keep up the good work
Amazing. Dedicated. Professional. I came through a reference from my Aunt. I was getting a personal loan for the first time. I was nervous. But they made me sail through the loan application process. Good work. Definitely recommend
Folks, they are very quick with their services. I actually didn't know there were so many conditions for getting a loan. My documents weren't proper as well. They really helped me pick up my profile. Also, they give you helpful suggestions regarding which banks should I opt for.
Excellent service from all team members. All are supportive. Its different from others NBFCs. Now and in future, My Mudra is my first choice for financial needs.
The service provided by My Mudra is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.
I was in dire need of funds for a medical emergency. Due to my low CIBIL score, I didn’t much get support from other lenders. This is when I submitted a personal loan application on My Mudra. Fortunately, I got the amount, and that too at lower interest rates. Thanks to My Mudra. The entire application was very smooth.
I have had a wonderful experience with My Mudra. The process was exceptionally seamless when I applied for a loan. I also liked how their people interacted with me. It is the best solution to the month-end cash issue. Also, I can use it to pay off my credit card dues.
To realize my business plans, I decided to take My Mudra Business loan and my decision was perfectly alright. It assured me of fast money and the entire process was transparent. No surprise loan charges helped me plan my working capital and manage my business activities efficiently.
I was in need of INR 2 lakh. I visited the My Mudra website and found out that there is a personal loan offer for me. It was a great experience. I got an awesome deal on my loan application. The process involved only a few documents. The amount transferred to my account was faster than promised and the interest rate and other charges were also not too high
I wanted quick fund disbursal and one of my friends suggested me to apply for a personal loan from My Mudra. He had a great experience. I agree with him. The application and approval process were smooth. They offer fast money transfers to my bank. I was asked to choose the repayment period. I am happy with the services. Their agents are also polite and helpful.
We collaborate with the best and biggest in the banking & financial world to get you relevant products at great rates.Apply Now
We employ best-in-class security practices and procedures to keep your information secure every time.
From taking regular backups to using stronger passwords, we strictly prohibit any kind of unauthorized access of your crucial data, corruption, or theft throughout its life cycle.
We identify all the different ways your privacy could be at risk and have prepared safeguards to help you protect yourself online with us. Your privacy is important to us.
We are ISO 27001:2013 and SOC2 Type 2 compliant which instills trust into the hearts of our customers. We are secured with SSL and a certified GSP (GST Suvidha Provider).
Our blogs are where you get the latest news along with insights from industry experts.