To select the categories of the applicants, Muthoot Finance Personal Loan gives both protected and loose personal loans. One can avail of a Personal Loan as low as Rs 50,000 with the least requirement of documentations required. A Muthoot Finance Personal Loan comes with full elasticity as per your needs and requirements. The fund from the loan can be used for vacations, weddings, or any emergencies.
Muthoot Finance Personal Loan Eligibility based on Age and FOIR.
- Age – The minimum age criteria for a Personal Loan is 26 years and the maximum is 58 years. The time given by the bank is a maximum of 60 months.
- Net Income – A monthly income of Rs 10,000 is required for getting the Muthoot Finance Personal Loan. Your capacity to reimburse is also noted based on your income and previous records. If the amount of EMI does not affect your monthly or daily expenses then you are eligible for the reimbursement.
- FOIR – Fixed Obligation to Income Ratio is one of the most important parts to look after when it comes to offering a Muthoot Finance Personal Loan. The bank takes note of all your fixed expenses like the rent and EMI’s to make sure that you are eligible for Muthoot Finance Personal Loan. A minimum of 0.50 is a required FOIR everyone has to have.
- Co-applicant – If you have a co-applicant, it helps to increase the eligibility for the Muthoot Finance Personal Loan. This also helps in the betterment of the repayment capacity. A co-applicant with a good income, restricted expenses, and strong credit and CIBIL score would result in the fast availing of the personal loan.
The rate of interest for the salaried people offered by the Muthoot Finance bank is 14%-24% and the maximum loan amount is 15 lakh with a minimum income of Rs 10,000 every month. For salaried people, there is no minimum work experience required but for self-employed professionals a minimum of 1-year experience is mandatory.
Dialabank helps in connecting people with the bank and helps you to get a personal loan with a cheap rate of interest, faster methods, and easy approval. You can visit our website www.dialabank.com or contact us on this number 9878981166 for the loan.