What is personal loan eligibility criteria for Upwards

Nowadays, maintaining a good lifestyle is becoming expensive. You can find yourself in urgent need of cash anytime. However, you can save yourself by applying for an instant personal loan through Upwards. Whether you want to buy a gift for your loved ones or want to pay the pending grocery bills, you can fulfill all your requirements by availing an instant personal loan. The personal loan that Upwards offers is a type of unsecured loan, which caters to meet all your day to day needs. A personal loan eligibility calculator can be used to know the amount that you can borrow.

If you are applying for a loan offline, then it can take two to three days for approval. With Upwards, you can get an instant personal loan up to Rs 1 lakh in a hassle-free way.. You can avail a personal loan with minimal documentation and even without any guarantor or collateral. Hence, using Upwards for availing a personal loan can be one of the best options for you. However, many are not familiar with the eligibility criteria required to avail the loan.

Eligibility Criteria to Avail Upwards personal loan

With Upwards, you can get a personal loan easily if you match the lender’s eligibility criteria. Upwards loan eligibility criteria are as follows:

Residential details

While applying for a personal loan through Upwards, you don’t have to worry about factors such as credit score or your employment status To be eligible for a personal loan, you have to be a resident of India. Thus, you have to submit documents to prove your nationality.

Age of the applicant

For the approval of a personal loan, the age of the applicant plays a vital role. In case an applicant is underage, then he or she won’t be able to avail the loan. Hence, you must be above 21 years of age to get a personal loan from Upwards.

Salary of the applicant

No matter if you are self-employed or a salaried person, if you have a regular income, then you can take a personal loan from Upwards. It is essential to know that your loan eligibility criteria can be affected by several factors like your employee status, job location etc. In case you are a freelancer and work from home, you can still apply for a personal loan. But you have to submit your Income Tax return documents along with the loan application. Whether you work from home or you are a full-time employee, you need to have a minimum salary of Rs 17,000 per month.

Required documents

One needs to submit an identity proof such as Voter ID Card, PAN Card, Aadhaar Card, passport or driving license. Besides, you have to provide any document that proves your address like Ration Card, any utility bill and passport etc. To determine your repayment capability Upwards asks for your last three months bank statements or payslips. Apart from that, you may need to submit your job offer letter or a letter from the HRD to prove that you are working. In case you are a self-employed individual, then you have to provide your bank statements of both current and savings account to be eligible for the Upwards personal loan. Whereas, a salaried person needs to submit Form 16, last three months salary slip and previous six months bank statements along with the other documents.

Availing a personal loan through Upwards is easy because it involves minimal documentation process. The whole loan application process is done online, so you don’t have to submit any hard copy of the documents. These points, as mentioned above, may help you to know the Upwards personal loan eligibility process. Also, here’s a personal loan eligibility calculator that we recommend.