What is the maximum age for Personal Loan? Overview
The maximum age can go up to 60 years (salaried employees) and 65 years (self employed professionals) at the time of loan maturity. However, age varies from bank to bank.
The maximum age of taking a loan is 55 years. However, the young applicant get a loan approval fast and they can get loan in low interest rates. The reason for this is that they have more working years left with them as compared to the applicants who are 50 years old.
Thus the applicant does not have the risk of default and there is no problem in the payment of the loan repayment.
Age Eligibility for Personal Loan:-
Age: Most of the banks offer personal loan to the person in the age group of 18 years to 60 years.
Personal Loan age Eligibility Criteria for Salaried Applicants:-
Eligible age group - 21 years to 60 years.
Personal Loan age Eligibility Conditions for Self-Employed Applicants:-
Eligible age group - 25 years to 65 years
Frequently Asked Questions
What is the maximum age to avail personal loan?
The maximum age to get a personal loan are varies from bank to bank.
Can a senior citizen get a personal loan?
Most of the lenders offering personal loans in the normal age range are between 23 to 60 years. Due to this, senior citizens are generally not eligible for personal loans.
What is the minimum and maximum age to apply for personal loan in your bank?
Some lenders consider 65 years as the maximum age for lending. Most of the banks and NBFCs offer personal loans to applicants in the age group of 21 years to 60 years.
Can you be denied a loan because of age?
Mortgage lenders are not allowed to attribute age as a factor in denying borrowers mortgage credit.
Can an 80 year old person get a personal loan?
All of these require that you have a monthly source of income, such as a salary or Social Security benefits. As long as the applicant is 18 years of age or above, age is not a barrier to loan approval.
So, if you want to apply for personal loan you can apply it without any fear with GRD India financial services Pvt. Ltd. as per your needs and money requirement.
With GRD India financial services Pvt. Ltd. you can get instant home loan at very low interest rates, it provides all kind of services to their client as per the banks norms. They make efforts for the clients in providing best loan price.
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