If you're salaried, a personal loan decision mostly rests on three things: a steady salary, a good repayment record and room in your budget for a new EMI.
What lenders look for
- Salary credits in your bank account every month, matching your salary slips
- Time in your current job and total work experience — requirements vary by lender
- Employer profile — some lenders group employers into categories
- Credit score — see what CIBIL score you need
- Existing EMIs compared with your take-home salary
Documents
PAN, address proof, recent salary slips and bank statements showing salary credits; some lenders ask for Form 16. With Oxon Fintech, bank statements are shared through Account Aggregator. See the full documents checklist.
Tips for salaried applicants
- Apply after you've completed some time in your current job, if you've just switched.
- Keep your salary credited to one account.
- Clear small card balances before applying to lower your existing obligations.
- Choose an EMI date just after your salary date.
- Plan the EMI with the personal loan EMI calculator.