Our eligibility requirements are based on the overall objective of processing your loan without bothering you much. Following the ‘minimum eligibility and maximum care’ principle, we ask for a few documents which are considered mandatory by concerned lenders.
Irrespective of the loan amount you apply for, matching these eligibility criteria is mandatory for the applicant. Our intention is to help you always so that not only you get your desired loan, you get it fast as well.
Age limit: Applicant should be between 21-58 years
Monthly income: You must be earning at least INR 20,000 per month
Bank statement: Applicant has to furnish a six-month salary statement as an income proof
Identity Proof: Aadhar card or driving license or any other digitally enabled KYC document
Valid account holder: The applicant should have a valid account in the recognized bank by the financial institution
Some other important requirements:
• Salary: More than INR 20,000 p.m. if living in own home or parental home
• Salary: More than INR 25,000 p.m. if living in a rented accommodation
• Locations: All metros and tier 1 cities
• CIBIL Score: More than 600
Self Employed Business Men/Professionals
• Income Tax Return: More than INR 3 Lakhs p.a.
• Business Establishment: More than 2 years
• Locations: Delhi NCR only
• CIBIL Score: More than 700
·Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
·Address proof (copy of passport/voter ID card/driving license/Aadhaar)
·Bank statement for the previous 3 months (Passbook for previous 6 months)
·Two latest salary slips/current dated salary certificate with the latest Form 16
·Proof of end use
Follow these tips to improve your Salary 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.
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