Aditya Birla Finance Limited Personal Loan Eligibility Criteria 2022

Aditya Birla Finance Limited (ABFL), a subsidiary of Aditya Birla Capital Limited, is one of the leading NBFCs (Non-Banking Financial Companies) in India. ABFL offers a wide range of financing and wealth management solutions to its customers across the country. A personal loan is one of the prominent products offered by ABFL to cover varied immediate financial requirements of customers. 

Aditya Birla offers a personal loan to all salaried individuals to help them tackle the cash crunch they may face in daily life, such as medical expenses, home renovation, wedding, big-ticket purchase, holiday, and a lot more. Salaried individuals with a good credit score can get a personal loan up to Rs. 15 lakh at a nominal interest rate with quick approval. 

Age: Lenders check your age to determine your eligibility for a personal loan. Your age should be between 23 years and 55 years to get a personal loan from Aditya Birla Finance. Because young borrowers have much time to earn money and repay a personal loan, they can more easily qualify for Aditya Birla personal loan than individuals who are in their 50s or approaching retirement. 

Monthly salary: A personal loan applicant should have a regular income and a stable job in a reputed company to get a personal loan from Aditya Birla Finance. Your monthly income impacts how much personal loan you can get at what interest rate. Moreover, your monthly instalment is also based on the salary you draw every month. 

Credit score: Since a personal loan is an unsecured loan, lenders check your credit score to assess your payment behaviour. Your credit score shows how responsible you are in handling your debts. You need to have a good credit score to get a personal loan from Aditya Birla Finance.  Generally, a credit score of 750 or above is considered perfect for a personal loan. 

Job and work stability: Lenders also look into job stability and the organisation you work with before processing a personal loan application. It gives a clear picture of a regular stream of income. Generally, salaried individuals should have at least 2 years of work experience and should have worked for at least 1 year in their job. While a self-employed person needs to have a minimum of 2 years of experience in their current business and the business should be profit-making.

Applicants need to submit the following documents to get a personal loan from Aditya Birla Finance. 

For salaried employees

• Proof of identity: Passport / Driving license / Voters ID / PAN card /Aadhaar card 
• Address proof: Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport - provided the passport has the present address mentioned in the loan application form
• Credit information: PAN card to check your credit history
• Income proof: Salary slips for the last 3 months along with salary certificate and latest Form 16
• Salary slips for the past 3 months
• Bank statement: Bank statement showing salary being credited for the last 3 months 
• You can also provide additional documents that demonstrate your extra income from other sources to enhance your eligibility

Applying for a personal loan on Ainoz is very easy. You can apply for a personal loan by clicking ‘Apply Now’ button on the personal loan page. Now fill the short and simple personal loan application form to check your eligibility. You will receive exclusive offers from multiple lenders, including Aditya Birla Finance (ABFL), based on your eligibility.  As per the requirements and offers, you can apply for a personal loan from Aditya Birla Finance. 

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