SBI Personal Loan eligibility check is a very important step before applying for the loan. With the help of the SBI Personal Loan eligibility calculator, you can check whether you are eligible for the loan. You need to input important details and use SBI Personal Loan eligibility calculator before applying for the loan. The eligibility for a personal loan in SBI takes into account your income, employment type and also your credit score. You can check SBI Personal Loan eligibility for salaried person and self-employed based on your employment type.
SBI Personal Loan Eligibility Criteria
You need to check SBI Personal Loan eligibility criteria before filling up the application form. If you do not satisfy SBI Personal Loan eligibility criteria, then your loan application form gets rejected. So, you need to satisfy the eligibility for a personal loan in SBI which is quite simple. You need to fulfill SBI Personal Loan eligibility based on salary,cibil score and your repaying capacity. Also, SBI Personal Loan eligibility for salaried person and self-employed must also be fulfilled.
|SBI Personal Loan in Eligibility Criteria||Salaried||Self-Employed|
|Age||21-58 years||21-60 years|
to Rs. 20 lakhs
||Up to Rs. 20 lakhs|
|Income||Min- Rs. 15,000||Min Turnover- Rs. 1 crore|
|Credit score||750 or more||750 or more|
|Work Experience||At least 2 years of work experience with a minimum of 1 year in the present company||Stable Business Continuity for at least 2 years|
Factors that affect SBI Personal Eligibility Criteria
- Income- SBI Personal Loan Eligibility is highly affected by your income. You need to satisfy SBI Personal Loan Eligibility based on the salary which is a minimum of Rs. 15000 per month. The minimum turnover required for SBI Personal Loan Eligibility is Rs. 1 crore per annum. So, you need to fulfill SBI Personal Loan Eligibility based on salary requirement.
- Credit Score– Your credit history is a major factor that affects SBI Personal Loan Eligibility criteria. Higher credit score will positively affect the eligibility for a personal loan in SBI. You need to pay off your ongoing debts and must possess regular repayment habit for improved SBI Personal Loan Eligibility.
- Work Experience- SBI Personal Loan Eligibility gets highly affected by your work experience. You need to have a minimum work experience of 2 years with 1-year experience in the present organization which positively affects SBI Personal Loan Eligibility.
- Residential Address- Your residential address plays a vital role in affecting SBI Personal Loan eligibility. If you stay in a place which falls under the negative location list of the bank, then SBI Personal Loan Eligibility criteria will get reduced. So your residential address is important eligibility for a personal loan in SBI