Micro Loan
Need quick funds? Get a micro loan of up to ₹2 lakh with interest rates starting at just 14% p.a. Explore exclusive pre-approved offers from trusted lenders, with an easy digital process and fast approvals to meet your financial needs effortlessly.
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Micro Loan Eligibility
Eligibility criteria for micro loans may vary across lenders. Below are the general requirements:
- Age: 21 to 65 years
- Occupation: Both salaried and self-employed individuals are eligible.
- Income: A minimum monthly income of ₹10,000 is required.
- Credit Score: A credit score of 600 or above is preferred for higher approval chances.
- Business Stability (for self-employed): Minimum 1 year of business continuity is required.
- Employment Stability (for salaried individuals): At least 6 months with the current employer.
- Bank Account: Applicants must have an active savings or current bank account.
Documents Required for Micro Loan
Here is the common list of documents required to apply for a micro loan:
Requirement | Salaried Individuals | Self-Employed Individuals |
---|---|---|
Proof of Identity | Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License | Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License |
Proof of Residence | Aadhaar Card, Utility Bills, Rent Agreement, or Passport | Aadhaar Card, Utility Bills, Rent Agreement, or Passport |
Proof of Income | Latest Salary Slips, Bank Statements (3-6 months) | Latest ITR, Bank Statements (6 months), and Business Financials |
Bank Account Details | Recent bank passbook or statement | Recent bank passbook or statement |
Photographs | Passport-sized photos | Passport-sized photos |