Eligibility Requirements:
- Age: 20-58 years (Salaried); 25-70 years (Pensioned)
- Residency: Resident of the city where the loan is required
- Housing: Minimum one year in owned residence or two years in rented residence
- Loan Amount: Rs. 50,000 to Rs. 350,000
- Tenure: 1 to 3 years
- Processing Fee: Rs. 5000 or 5% of the loan amount (whichever is higher)
Mobilink Salary Loan Application Steps:
- Fill out the online application form
- Submit necessary documentation (ID, proof of residence, salary/pension details)
- Await assessment and approval
- Receive the loan amount upon approval
- Start your flexible repayment plan
Frequently Asked Questions
How long does it take to get approved for a Mobilink Salary Loan?
Approval generally takes 3 to 5 business days, ensuring a quick and efficient process.
Is it required to explain why credit is being used?
No, Mobilink does not require borrowers to disclose the purpose of the loan, ensuring privacy and convenience.
Do I need to have a good credit score to be approved for Mobilink Salary Loan?
While a good credit score can expedite approval, Mobilink also considers other factors such as employment and residency status.
Can I apply for a loan if I am self-employed?
Currently, Mobilink Salary Loan is tailored specifically for salaried and pensioned individuals, not self-employed customers.