New Delhi is the capital of India and the nexus of major political, economic and cultural activity in the country. Considering the various expenses that come with living in a metropolitan city, the cost of living in Delhi is quite high. With a rapidly growing urban population, the city is full of salaried and self-employed individuals who require personal loans to fulfil their monetary needs.  If you are one such individual, here are some key details you should know before applying for a personal loan in Delhi.

Eligibility criteria

To get a personal loan, you have to meet some basic eligibility criteria given below.

  • You must be a residing citizen of India
  • You must have a minimum CIBIL score of 750
  • Your monthly income should be above the minimum income as per the bank’s standards
  • Your age should be above the lower limit of the age range set by the bank
  • You should either be a salaried employee or self-employed

You can also improve your personal loan eligibility by paying off all previous debts, adding a co-applicant such as a spouse or business partner, and opting for longer repayment tenure. In the long run, to ensure that you maintain a good credit score, you should not default on any loan payment. This will help you to get loans in the future with much ease.

Additional Read: How to Choose the Best Personal Loan for Different Needs?

Features of personal loan in Delhi

To make financial aids more accessible, lenders offer the following features:

  • Online application: You can visit the website of your preferred financial institution and apply for a loan from the comfort of your home. Not only this, but most websites display in-depth information about various personal loans, interest rates, etc. so you can make an informed decision.
  • Fast disbursal: Upon completion of the documentation process and other formalities, the loan amount gets disbursed as quickly as within 3-4 days, depending on your credit score, security felt by the bank, etc.
  • Flexible tenure: You can choose the repayment tenure as per your ability to repay.

Additional Read: 9 Features of a Personal Loan that Make it Popular

How to get a loan

You need to furnish certain documents for verification and documentation before the bank approves the loan. To ensure a hassle-free process, the following documents of the applicant are required:

  • Identity proof
  • Address proof
  • Employee identification card of the company you are currently employed at
  • Recent passport-sized photographs
  • Proof of Income Tax Returns
  • Income proof


A personal loan is a multi-purpose loan that you can use for financing a variety of things. However, the personal loan interest rate depends upon your income and credit score as well. Tata Capital offers some of the lowest interest rates for personal loans, starting at just 10.99% with loan repayment tenure of 12-72 months. Further, with our accurate personal loan EMI calculator, you can calculate the cost of EMI and decide what suits your needs. Tata Capital is the most reliable loan provider in the industry, so contact us today!

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