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.
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.
| 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.
There are a lot of factors that affect your Personal Loan eligibility, such as:
Ensures borrowers can manage debt comfortably based on their working years.
More work experience signals financial stability.
Assesses affordability and disposable income after considering existing obligations.
A critical factor depicting creditworthiness and timely repayments.
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
Mangalam Industrial Finance Limited is a Non-banking Financial Institution providing hassle-free loans. with easy and quick loan facilities. We aid our customers with financial solutions primarily for the purchase of Electric Two-Wheelers.
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