What to expect
- Rates from about 10.5% for applicants with a listed employer and a score above 750
- Approval usually within 24 to 72 hours on a complete file
- Salary slips and six months of bank statements are normally all that is needed
- Employees of government bodies and large listed companies get the lowest rates and the highest FOIR bands
Documents you will need
- PAN and Aadhaar
- Last 3 months salary slips
- Last 6 months bank statements showing salary credits
- Employment proof
Work out the numbers first
Before you apply anywhere, check what your income supports with the eligibility calculator, and what it will cost with the EMI calculator. Applying blind and being declined leaves a mark on your credit file that the next lender can see.