To apply for a short-term personal loan in India, you must meet certain basic eligibility criteria and provide required documents. Here’s a detailed guide:

Eligibility Requirements for Short-Term Personal Loan:

1. Age:
   21 to 60 years (may vary slightly by lender)

2. Income:
   Minimum ₹15,000 – ₹25,000 per month (varies by lender and city)

3. Employment Type:

   • Salaried (private or government)

   • Self-employed (with business proof)

4. Credit Score:
   Generally 650 or above (higher score = better approval chances)

5. Job/Business Stability:

   • Salaried: Minimum 6 months in current job

   • Self-employed: At least 1–2 years in current business

Documents Required:

1. Identity Proof (any one):

• Aadhaar Card

• PAN Card

• Voter ID

• Passport

• Driving License

2. Address Proof (any one):

• Aadhaar Card

• Utility Bills (electricity, gas)

• Rent Agreement

• Passport

3. Income Proof:

• Salaried:

  • Last 3–6 months’ salary slips

  • Bank statements

  • Form 16 or ITR (if needed)

• Self-employed:

  • ITR for 2 years

  • Business registration proof

  • Bank statements

4. Photograph:

• Recent passport-size photo

Where to Apply:

• Banks: SBI, HDFC, ICICI, Axis, etc.

• NBFCs: Bajaj Finserv, Tata Capital, etc.

• Online apps: KreditBee, CASHe, NIRA, EarlySalary, etc.

Tips to Get Approved Easily:

• Maintain a good credit score

• Do not apply with multiple lenders at once

• Choose a loan amount you can repay comfortably

• Have all documents ready and up to date

Would you like help choosing the best short-term loan provider based on your profile or city