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The process for applying for a personal loan typically involves the following steps:
Research and comparison: Factors such as interest rates, loan amount, repayment tenure, processing fees, and eligibility criteria.

• Check eligibility: Factors like age, income, employment stability, and credit history
• Gather documents: such as identity proof (PAN card, Aadhaar card, passport, etc.), address proof (utility bills, passport, driving license, etc.), income proof (salary slips, bank statements, income tax returns, etc.), and employment-related documents (employment letter, business ownership proof, etc.
• Verification and evaluation: This may involve reviewing your documents, assessing your creditworthiness, and evaluating your repayment capacity.
• Loan approval and disbursal: The lender will provide you with a loan offer, including details about the approved loan amount, interest rate, tenure, and any associated fees
• Disbursement: Once the loan agreement and documents are verified, the lender will disburse the loan amount to your bank account.

• Applicant must be at least 21 years of age
• Applicant must be no older than 60 years of age
• Net monthly income of at least ₹15,000 per month (Some Banks require a minimum of ₹20,000 per month)

• At least one valid proof of identity
• A current proof of residence
• Last 6 months of bank statements
• Last 3 months of pay or salary slips

• Last 3 years of Income Tax Returns (ITR), if more than 5 years have been spent in the same work
• If company is Private Limited, then Memorandum of Association (MOA) is required
• Last 6 months of bank statements
• Balance sheets, Profit & Loss (P&L) account and audit report
• A ‘Know Your Customer’ (KYC) report of individual or company
• Partnership Deed, Shop act and other mandatory documentation