DO YOUR SHOPPING WITHOUT ANY HASSLE

Quick Loan Disbursal | Easy Repayment | Simple Application

Our feelings of happiness are closely related to shopping. There are times when you may not be able to replace your old appliances due to a lack of funds. With My Mudra Shopping Loan, you can buy anything at any time while paying your dues later. A customer's most valued service is receiving their loan approval in the shortest possible time. 

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Shopping Loan

 

Eligibility & Documentation


My Mudra's shopping loans can help you purchase your desired product on the same day. Our easy-to-use online application allows you to apply online, and as soon as the loan is approved, the funds will be credited to your account.

 

My Mudra Shopping Loan Eligibility Criteria

 

 

Salaried Individuals

Self-Employed Individuals

Entitled Borrowers

Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses

Proprietor /

Partners /Directors

Age

The person should be 21 years old at the time of loan application and his maximum age should be 65 years

Applicant must be a minimum of 21 years of age at the time of application and should be a maximum of 65 years at loan maturity.

Income

Net monthly salary should be Rs.20,000

Gross annual income should be of minimum Rs.2.5 lakh

 

Net monthly salary should be Rs.25,000 (if residents of metro city)

Gross annual income should be of minimum Rs.3 lakh

Experience / Vintage

Minimum 2 year of work experience

Minimum 3 years in current business / profession

CIBIL score

Should have a minimum CIBIL score of at least 750.

Should have a minimum CIBIL score of at least 750.

Work History

No defaults in the previous 24 months.

No defaults in the previous 24 months.

Citizenship

Individuals with Indian citizenship

Individuals with Indian citizenship

 

Documents Required To Avail My Mudra’s Shopping Loan

 

 

Salaried Individuals

Self-Employed Individuals

Identity Documents

PAN Card, Aadhaar

Card, Voter Identity

Card, Driving License

PAN Card, Aadhaar Card,

Voter Identity Card,

Driving License

Address Proof

· Recent Electricity bill

 

· Recent Telephone bill

 

· Rastion Card

· Recent Electricity bill

 

· Recent Telephone bill

 

· Rastion Card

Income Proof

· Last month’s pay slip

 

· Recent bank statement

 

· Form 16

· Last month’s pay slip

 

· Recent bank statement

 

· Form 16

 

 

Once your loan has been approved, it will be credited to your registered bank account immediately.

 

eligibility

How to improve your Shopping Loan Eligibility?

Follow these tips to improve your Shopping Loan Eligibility –

Get Rid of Debts

Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting

Maintain a good CIBIL Score

Try to build a CIBIL score above 750

Do not apply for multiple loans simultaneously

Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness

Choose a longer loan tenure

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.

Add Co-applicants

A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.

improve-eligibility

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Our partners from across the industry

We collaborate with the best and biggest in the banking & financial world to get you relevant products at great rates.

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