TrueBalance, a popular digital lending platform in India, offers personal loans to help individuals meet their financial needs. The eligibility criteria for obtaining a loan from TrueBalance generally include the following factors:
### 1. **Age Requirement**:
- Applicants must typically be between **21 and 58 years** old.
### 2. **Employment Status**:
- The applicant must be a **salaried employee** or a **self-employed professional**.
- Some sources suggest that the platform primarily targets salaried individuals.
### 3. **Monthly Income**:
- A **minimum monthly income** is required, generally starting from around **₹10,000**, though the exact amount can vary depending on the loan amount and other factors.
### 4. **Credit History**:
- A decent **credit score** is important. TrueBalance typically requires a moderate to good credit score to assess creditworthiness. The platform may still approve loans for individuals with lower scores, but this may result in a higher interest rate.
### 5. **KYC Verification**:
- Applicants must complete **KYC (Know Your Customer)** verification by submitting valid identity proof, such as:
- **Aadhaar card**
- **PAN card**
- **Voter ID**
- **Driver's license**
- TrueBalance also requires a **current address** proof.
### 6. **Geographical Location**:
- The service is available to residents of India, with some regional variations in loan offerings.
### 7. **Smartphone Requirement**:
- The TrueBalance loan application is **mobile-based**, so applicants need to have an **Android smartphone** to access the app and complete the loan process.
### 8. **Bank Account**:
- A **valid bank account** is required for loan disbursement. The applicant must also provide bank details for repayment.
The exact criteria may vary, depending on the loan type and loan amount. It’s always a good idea to check the latest details directly on the TrueBalance app or their website.
Financial Help India