Age:Between 21 and 55 years
Salary:Minimum in-hand salary of ₹18,000 in Metro cities and ₹15,000 in Non-metro cities
Residence:You must be a resident of India
Fibe provides easy loans to individuals ranging from 21 to 55 years of age. It helps to understand the earning potential before applying for a loan.
Before lending, every financial institution will ensure that the applicant has sufficient monthly income to understand the repayment capacity. At Fibe, you can avail of a personal loan if your minimum in-hand salary is ₹15,000 in non-metro cities and ₹18,000 in metro cities.
If you are thinking of applying for a loan, you must confirm that your area is serviceable by the lender.
One needs to be employed in order to qualify for a quick loan. You are eligible to use the loan facility whether you are a new jobber or a regular, seasoned paid employee.
This determines a person's creditworthiness. Your credit score reflects how you've handled prior EMI payments. Therefore, having a strong credit score makes it easier and faster for your loan application to be approved.
Your stability and ability to repay debt are demonstrated by your monthly expenses. For the most part, it's advised to keep your debt-to-income ratio at 40% and to avoid exceeding it to prevent delays in approvals.
It plays a significant role in determining your creditworthiness and repayment capabilities. Achieving an impressive score can improve your chances of obtaining speedy loan approval while also providing additional advantages such as reduced interest rates and increased borrowing capacity.
The ratio of gross monthly debt to gross monthly income is called the debt-to-income ratio. If you have too much debt to your gross monthly income, you might miss your EMI payments, which may result in you being considered a defaulter.
Select a longer repayment term. Most lenders offer flexible repayment terms. You will pay a lower EMI amount with longer tenure and will have an easier time managing your loan.
A credit score may be negatively affected by multiple loan applications from different lenders. Instead, shortlist a few lenders whose eligibility criteria you already meet and apply to them.
To avail of a quick loan from Fibe, you must have a minimum in-hand salary of ₹15,000/month in non-metro cities and ₹18,000/month in metro cities.
You can check the eligibility by using Fibe’s eligibility calculator. Just provide details like income, age, city, credit score and other information to get your eligibility instantly.
You can apply for a quick loan with Fibe if you are between the age of 21 and 55 years.
Below are the factors that affect the eligibility for an easy Loan:
In order to be eligible for a quick loan, you must be between the ages of 21 and 55. Furthermore, you must be a salaried individual earning at least ₹15,000 in non-metro cities and ₹18,000 in metro cities. Also, you must be a resident of India. Individuals who do not meet these requirements are not eligible to avail of a quick loan.
For an easy application, make sure you have a good credit score, meet the lender’s eligibility requirements and have all the necessary documents.
You can check your loan eligibility by accessing Fibe’s eligibility calculator. With the help of a eligibility calculator, you can get to know whether you qualify for a loan within seconds.
Instant loans are a type of loan that is approved and disbursed quickly, often within a short period of time. However, the loan tenure or duration can vary depending on the lender and the specific loan product. At Fibe, you have flexible repayment tenures starting from 3 months to 36 months.
You can get up to ₹5 lacs if you qualify according to your salary, credit score and repayment history with Fibe. Click here to check the eligibility.
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