Personal Loan Eligibility - Eligibility Criteria for Loans at Faircent
Borrower eligibility criteria
A Borrower on Faircent must:
- Be a resident of India.
- Have a minimum gross income of INR 3 lacs per annum.
- Provide all the documents mentioned in the checklist.
QUICK CHECK OF DOCUMENTATION REQUIRED
Borrowers will be required to provide Faircent with following documentation at the time of verification.
| 1 | Photographs | 2 copies |
| 2 | Identity Proof (any one of the following) |
|
| 3 | Date of Birth Proof (any one of the following) |
|
| 4 | Signature Proof (any one of the following) |
|
| 5 | Address Proof (any one of the following) |
|
| 6 | Contact Proof (any one of the following) |
|
| 7(a) | Bank Statements | Last 6 months |
| 7(b) | IFSC code | Scanned/canceled cheque or copy of the front page of pass book of same bank account |
| 8 | Proof of Income |
|
| 9 | NACH Mandate |
Please ensure sign matches bank account signatures |
| 10 | e-Mandate |
Will be required if loan request is approved. Please keep debit card/net banking details of the bank account whose details were entered at the time of registration ready. |
NACH is used to electronically transfer funds from lender’s escrow account to Borrower’s bank account and to make repayments from borrower’s account to lender’s escrow account. Thus, it’s important to ensure that the sign on the NACH mandate matches with the borrower’s bank account signature.
Information provided by you will be used strictly for official purposes, and Faircent safeguards client confidentiality. For further information, please read the Faircent Policy and Terms and Conditions mentioned on the website.