What to expect
- Most unsecured lenders want the loan closed by age 65–70, which shortens available tenures
- Pension income is accepted by many banks, particularly where the pension is credited to them
- Secured options — a loan against FD, property or gold — ignore age bands almost entirely and cost far less
- Adding an earning child as co-applicant restores full tenure options
Documents you will need
- PAN and Aadhaar
- Pension statement or income proof
- Last 6 months bank statements
- FD/property/gold documents where the loan is secured
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.