How is my loan eligibility decided?

How is my loan eligibility decided?

At 5paisa P2P, we use a very robust credit evaluation model which takes into account different parameters such as credit score, open loans, repayment history, income in hand, among others, to decide your creditworthiness and loan eligibility.
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    • What is the interest rate for personal loan?

      The interest rate is decided as per your loan eligibility and credit evaluation. The interest rate starts from 12% and can go all the way up to 36%
    • Who are the lenders for my loan?

      You will be funded by multiple lenders; each lender will fund a part of your loan at the interest rate as per your loan eligibility. For example, if your loan amount is Rs50,000, 10 lenders will lend Rs5,000 each to complete your loan requirement. ...
    • What is the eligibility requirement to take loan from 5paisa P2P?

      The eligibility to become a borrower at 5paisa P2P is fairly simple and basic. Resident of India At least 21 years old Monthly income of at least 18,000 Income proof PAN Card Valid Id and Address proof Valid Bank account
    • What amount of personal loan can I take and what will be the tenure?

      You can avail loan starting from Rs 30,000 to Rs 10,00,000 depending on your eligibility. Loan tenure starts from 6 months and can go up to 36 months.
    • How to take loan from 5paisa P2P?

      You can take a personal loan in just four simple steps. They are as follows: Register online and create an account Upload required documents Accept loan agreement Loan gets disbursed in your bank account