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Quick and Easy Personal Loan with Simple Eligibility and Minimal Documentation

Mangalam Industrial Finance Limited presents a hassle-free Personal Loan option with straightforward eligibility criteria and minimal documentation. Apply for the loan to secure a substantial amount at a competitive interest rate with just a few clicks. Ensure a seamless application process by accurately submitting all required documents.

Eligibility Criteria and Documents Required for Personal Loan

Personal Loan Eligibility Criteria:

Qualifying for Mangalam Industrial Finance Limited's Personal Loan is convenient, as there is no extensive eligibility checklist. The streamlined eligibility process facilitates quick loan approval, minimizing potential delays in disbursing the loan amount. Personal Loan Requirements:

Factor Personal Loan Requirements
Age Applicants should be between 22 and 57 years old at the time of application.
Citizenship Applicants must have Indian citizenship.
Employment Applicants must have a full-time job at Central Govt, PSU, MNC, Listed, Unlisted Public Ltd, Pvt Ltd, LLP, or companies listed internally.
Work Experience Applicants must have at least 1 year of job experience and at least 1 month of stable employment at the current job.
Monthly Income Monthly net take home salary of at least ₹30,000.

Additionally, a good credit score and credit history are required. Meeting these criteria ensures a swift online Personal Loan approval.


Documents Required for Personal Loan

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Personal Loan Documents Required:

Document Category Personal Loan Documents Required
KYC Documents PAN Card/Aadhaar Card/Driving licence/Voter ID/Passport
Current Address Proof Passport/ Utility bills/ Rent Agreement
Income Documents Latest salary slips for the last 3 months
Financial Documents Bank Statement for the last 3 months
Employment Proof Official mail ID confirmation /Employee ID Card (in case official mail ID confirmation is not possible)

Note:The provided list of Personal Loan documents is indicative, and additional documents may be requested during loan processing.

Factors Affecting Personal Loan Eligibility

There are a lot of factors that affect your Personal Loan eligibility, such as:

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Age
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Work Experience
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Monthly Income
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Credit Score & History
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Age

Ensures borrowers can manage debt comfortably based on their working years.

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Work Experience:

More work experience signals financial stability.

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Monthly Income

Assesses affordability and disposable income after considering existing obligations.

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Credit Score & History:

A critical factor depicting creditworthiness and timely repayments.

Frequently Asked Questions

Visit the official Mangalam Industrial Finance Limited website and navigate to the 'Eligibility and Documents' tab for detailed eligibility requirements.

Indian citizenship, age between 22 and 57, monthly income of at least ₹30,000, 1 year of job experience, and 1 month of current job continuity.

Basic KYC, income, financial, and employment-related documents. Find the complete list on the eligibility and documents page.

No, salary slips are mandatory for the Personal Loan application process.

Latest salary slip and last 3 salary credit bank statements in original PDF format, not older than 15 days.

Lenders consider credit score, income stability, debt-to-income ratio, loan amount, existing financial obligations, repayment history, and the borrower's relationship with the lender.

Yes, a No Objection Certificate (NOC) can be obtained after settling the loan, confirming the closure of the loan account and fulfilment of all financial obligations.

*Terms & Conditions Apply

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