Personal loan eligibility for a salaried professional considers factors such as employment details, job stability, monthly salary, whether employed with private/public/MNC firm, CIBIL score among others. Age also plays a crucial role. Ideally it ranges between 21 and 60 or retirement age (whichever is early).

Yes, self-employed individuals are eligible for personal loans if they fulfill certain criteria in terms of age, income, credit-worthiness, proof of a functioning business, ability to repay etc. Each bank/NBFC has its own eligibility criteria.

A co-applicant or guarantor might help you get a personal loan if your CIBIL credit score is poor. Naturally, you will need to consult the other candidate in advance as they will also need to give signatures and complete the KYC procedures.

If you are a salaried professional, your minimum age should be 23 (while applying) and the maximum age has to be 60 or retirement age (whichever is early) at the time of loan maturity. For self-employed individuals, your age should range between 25 and 65.

Personal loan providers deposit the loan amount in your registered bank account after proper verification of documents. You need to repay the amount in pre-determined EMIs, interest rates, and tenure. IIFL Finance offers the most flexible repayment terms to customers willing to apply for personal loans.