Personal Loan Eligibility and Documents

Before you apply for a personal loan, it helps to know whether you are likely to qualify and to have your documents ready. This guide explains the eligibility rules for a ClickMyLoan personal loan, how the loan amount is decided and the documents you need.

Who Can Apply

You can apply for a ClickMyLoan personal loan if you:

• are an Indian citizen;
• are aged 21 to 60 years when you apply;
• have a regular income of at least ₹15,000 a month (salaried, or self-employed with at least 2 years in business);
• have a CIBIL score of 650 or more (a score of 750 or more can get you a better rate);
• have a valid PAN, an Aadhaar-linked mobile number and an active bank account in your name.

Meeting these rules does not guarantee a loan. The lender also looks at your existing loans, repayment history and the stability of your job or business.

How Much You Can Borrow

Personal loans range from ₹10,000 to ₹10 lakh, repaid over 6 to 60 months. The amount you are offered depends mainly on how much EMI you can afford. Lenders usually expect your total EMIs, including the new loan, to stay within about half of your monthly take-home income. For example, if you earn ₹40,000 a month and already pay a ₹5,000 EMI, a new EMI of up to about ₹15,000 may be possible.

Use our eligibility calculator to get an estimate. It does not affect your credit score.

Documents You Need

Identity and address proof

• PAN card
• Aadhaar card, or another address proof such as a passport, voter ID or driving licence
• A recent photograph (you can take a selfie in the app)

Income proof: salaried

• Salary slips for the last 3 months
• Bank statements for the last 6 months, showing your salary credits
• Employee ID card or UAN, if asked

Income proof: self-employed

• Income Tax Returns (ITR) for the last 2 years
• Bank statements for the last 6 months
• Business registration documents and business address proof

How to Apply

1. Check your EMI and eligibility with the calculator.
2. Apply online at web.clickmyloan.com or in our Android app.
3. Fill in your personal, job and income details and upload your documents.
4. Get a decision within 24 hours of submitting your documents.
5. Read your Key Fact Statement, accept the offer and sign the loan agreement digitally.
6. Receive the money in your bank account within 48 hours of approval.

Tips to Improve Your Chances

• Pay all EMIs and credit card bills on time; this is the biggest factor in your credit score.
• Do not apply to many lenders at once. Each application adds an enquiry to your credit report.
• Choose an amount and tenure whose EMI fits comfortably within your budget.
• Make sure the name, date of birth and address match across your PAN, Aadhaar and bank account.

Before You Apply

See every rate and fee on our interest rates and charges page, learn how EMI is calculated and read how your CIBIL score affects a loan. More answers are in our FAQ.