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Useful articles for your finance management by our team of experts

process for applying for a loan

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Q: I received a reply to my

query of loan eligibility at the age 68 yrs

. After understanding that I am eligible under the regular salary income bracket, I request you to explain how I should go about with applying for a loan, its paperwork etc. so that I can expedite my requirements.

Answer: We first need to know what kind of loan you are looking for. If it is a home or personal loan, please view


In general for any loan they would require 3 months payslips, form 16A and 3 yrs IT returns. You would need to analyse interest rates after checking with different loan companies and decide accordingly, keeping in mind the upfront Processing fee and Prepayment penalty. The best solution is to research loans online. Try


. Let us know if we can help you further.

Warm Regards,

Shweta, Certified Financial Planner

Expert @ InvestmentYogi


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