Hello,

Guest!

Shubh Personal Loans Eligibility

Avail of instant personal loan from Shubh Loans with minimum documents. Get quick disbursal to your bank account and repay in tenure up to 5 years.

Updated:

Shubh Personal Loans Eligibility

At present, Shubh Loans finances the personal loan requirements of the salaried class alone. It is an ideal platform for those salaried employees who do not have proper access to bank or institutional finance. The eligibility norms of Shubh Loans is straightforward.

  • Any salaried person drawing the pay of Rs 12,000 or more per month is eligible for a personal loan with Shubh Loans.
  • Applicants can apply for the Shubh Loans only through the dedicated mobile app. Hence, downloading and registering themselves on the app is imperative.
  • As on date, Shubh Loans does not provide financial assistance to self-employed people. However, in the future, they might do so.
  • Shubh Loans is not available in all cities of India. It is active in Bengaluru, Chennai, Mumbai, Delhi NCR, Hyderabad, Kolkata, Pune, Ahmedabad, Jaipur, Chandigarh, Mysore, Coimbatore, and Nashik.
  • The borrower should be a minimum of 21 years of age when applying for assistance on the Shubh Loans app. The maximum age of the borrower at the maturity of the loan should not exceed 60 years.
  • Shubh Loans has a specified mode of calculating your credit score based on the data you provide. Applicants should have a satisfactory credit score for being eligible for Shubh loans. However, if the customer meets the internal policies of Shubh Loans, the company can approve the loan irrespective of the CIBIL score.
  • The applicant should provide the essential documents to prove their identity, residential address, and income.
  • The applicant has to upload the bank statement, as well to complete the application process.
  • Shubh Loans provide personal loans from Rs 25,000 to Rs 5 lakhs with a repayment tenure in the range of one to four years.
  • The rate of interest can range from 1.25% to 2% per month, depending on the credit rating of the borrower.

Documents Required For Shubh Loans

The applicants have to upload the following documents when applying for the personal loan from Shubh Loans.

  • KYC Documents - Proof of identity - Aadhar Card and PAN card
  • Income Proof - Bank account statement for the last three months showing salary credits

On the approval of the loan, the borrower has to upload the following documents on the app.

  • Latest salary slip
  • Proof of residence - Any valid Government KYC document or post-paid mobile bill or electricity bill or rental agreement

Shubh Loans Rate of Interest

Shubh Loans charges interest @ 1.25% to 2% per month depending on the credit rating of the borrower. The higher the score, the better is the interest rate.

Features of Shubh Loans

  • Shubh Loans is the ideal place for the unserved and the underserved segment of society to apply for financial assistance.
  • Shubh Loans provides personal loans to salaried employees of small companies, as well. Such employees do not have any access to banks and financial institutions.
  • The applicant need not specify any reason when applying for the personal loan. Shubh Loans offers financial assistance to cater to all the individual requirements of the applicant.
  • The loan approval process is a transparent one, as the applicant is informed immediately about the fate of the loan application.
  • The approval is quick, and the disbursal is a speedy one, as well. The amount gets credited to the salary account within two days
  • Repayment of the loan is also easy. Setting up a standing instruction to debit the instalment is the ideal way to repay the loan.
  • Shubh Loans app offers the highest degree of privacy and data security. The company does not use your data in any way other than the one for which it is intended.
  • The app is available in multiple vernacular languages, thereby making it easy for all to apply for personal loans.
  • The borrower gets the advantage of flexible repayment plans ranging between one and four years.
  • The best aspect of the Shubh Loans app is that it is a lightweight app. It works with 2G as well.

Shubh Loans Customer Care

Shubh Loans has representatives in each of the 13 cities in which it is active. Apart from that, customers can contact the registered office of the company directly through telephone or email.

  • Address - Datasigns Technologies Pvt Ltd. NOVA MILLER, 333, Thimmiah Road, Vasanth Nagar, Bengaluru 560052
  • Phone - +91-8880752752
  • Email - support@shubhloans.com

Navi Personal Loan @9.99% p.a

Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

Shubh Personal Loans Eligibility FAQs

With which banks does Shubh Loan have a tie-up arrangement to finance the requirements of its customers?

image

The company has tie-up arrangements with RBL Bank, Incred, IDFC Bank. Fullerton, and DCB Bank, and so on to cater to the loan requirements.

Which personal requirements do Shubh Loans cater to?

image

Shubh Loans caters to all the personal needs of its clients. The requirements can range from children's education, medical expenses, marriage expenses, and all kinds of emergencies. The borrower should ensure that he/she does not use the loan for speculative activities.

Does Shubh Loans provide financial assistance to self-employed individuals or businesspersons?

image

No, Shubh Loans does not have any product to finance the requirements of self-employed persons. The company does not sanction any business loans. As on date, the company offers personal loans to salaried individuals alone. In the future, the company might start providing loans to self-employed individuals, as well. The company will notify its customers through an app notification in this regard.

What type of salaried individual can apply for Shubh Loans?

image

All types of salaried individuals can apply for a personal loan from Shubh Loans. The applicant should satisfy the following elementary requirements.

  • The minimum salary of the person should be Rs 12,000 per month.
  • Salaried employees of unlisted companies, partnership firms, and other small entities are eligible for personal loans from Shubh Loans.
  • At the same time, government employees, PSU employees, and those working in corporate concerns are also eligible to apply for personal loans.
  • The applicant should satisfy the age criteria. The minimum age should be 21 years.
  • The maximum age of the borrower must not be more than 60 years on the date of the maturity of the loan.
  • The applicant should have a good credit score. Shubh Loans does not approve personal loans of applicants with poor credit rating.

Is it safe to apply for a personal loan through a mobile phone app?

image

Yes, Shubh Loans is a reputed personal loan provider active in 13 cities in India. The company follows strict security measures when seeking information from the client. It is safe for the client to part with details like name, residential address, PAN card and Aadhar card details, and bank account.

Is it compulsory for the applicant to disclose the bank account details on the mobile app?

image

Yes, the bank account statement is an essential document that can prove the credit of the salary. It also provides information on your other loan deductions, if any. Secondly, the company disburses the loan through proper banking channels alone. Hence, providing the bank account details is compulsory for the applicant when applying for a personal loan from the company. The repayment is also through the bank account of the applicant.

Is it safe to upload the bank statement on the Shubh Loans app?

image

Yes, the app is a safe one, as it does not use your data for any other purpose. The company does not store your credentials, thereby ensuring that the data you share remains secure. The company provides two straightforward options for uploading the bank statement. Reserve Bank of India provides for a reliable method for sharing your bank account statement with a registered lender. Customers can upload the bank statement using internet banking or through e-statements.

How do I repay the personal loan?

image

The borrower has a couple of options for repaying the personal loan. The first option is to provide post-dated cheques. Alternatively, the borrower can set up a standing instruction on the savings account. It enables the company to recover the instalment on the due date. There are no facilities for making payments in cash.

Will I be able to apply for a personal loan from Shubh Loans if I reside in a city other than the 13 mentioned in the app?

image

As on date, Shubh Loans is active only in the 13 cities listed out on the app. The company does not provide any loans to persons residing in cities and towns apart from this list. However, the company is in the process of expansion. It can add new cities in the future. The company will inform the customers of additions if any, through the mobile app notification.

The customer can check out the town by entering the pin code. The app will not proceed further if it finds that the city is not listed among the existing ones.

Is there any other way of applying for a personal loan from Shubh Loans?

image

No, Shubh Loans is a mobile app-based financing company. Customers cannot apply for personal loans in any other way. The only way to apply for assistance from the company is through the dedicated mobile app.