Personal loan is a loan that establishes consumer credit that is granted for personal use; usually unsecured and based on the borrower's integrity and ability to pay. Whether an individual is planning a vacation, redecorating home or supporting child through college, a personal loan gives the extra funds needed.
The minimum age limit to apply for loan should be 21 years. Maximum age can go up to 60 years (salaried employees) and 65 years (self employed) at the time of loan maturity. However, age varies from bank to bank.
Personal loan can be provided to Salaried Employees. Salaried doctors. Employees of public and private limited companies and also for Govt Employees.