Legal & Compliance

Loan Policy

Details

Complete policy guidelines, eligibility criteria, and terms for loan approval across all FiClear partner banks.

1

Basic Eligibility Criteria

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Minimum Salary

₹15,000/month

Age Criteria

Min: 21 years | Max: 60 years

Loan Amount

₹50,000 - ₹100,00,000

Loan Tenure

12 to 84 months

Up to 96 months for salary above ₹100,000 (case dependent)

2

Company / Employer Policy

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Listed & Non-Listed Companies

Listed companies: Allowed

Non-listed companies: Allowed (MCA vintage minimum 2 years)

Special Non-Listed Company Conditions

Certain banks & NBFCs allow non-listed companies with conditions such as:

  • Salary threshold
  • Limited multiplier
  • Reduced maximum loan amount
3

Accommodation Rules

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Bachelor Accommodation

Allowed (subject to salary & CIBIL conditions)

Hostel Accommodation

Not allowed

4

FOIR (Fixed Obligation to Income Ratio)

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Monthly Salary Maximum FOIR
₹35K – ₹50K 50%
₹50K – ₹75K 60%
₹75K+ 70%

Important Notes

FOIR may reduce for:

  • Low CIBIL
  • Unlisted company
  • High existing obligations
5

Multiplier Policy

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Monthly Income Multiplier
₹20K – ₹35K Up to 20×
₹35K – ₹75K Up to 22×
₹75K+ Case dependent

Final eligibility depends on:

  • FOIR
  • Company category
  • Credit profile

6. Documents Required

Aadhaar Card
PAN Card
Latest 3 months salary slips
Latest 3 months bank statement
Office mailID / Form-16 (if required)

7. Important Disclaimer

Eligibility criteria mentioned above are indicative and subject to:

  • Bank's internal credit policies
  • Profile risk assessment
  • Final approval by the lender

Advanced Policy Rules & Exceptions

⚠️ These are bank-specific exceptions & relaxations used by professionals.

Banks / NBFCs Allowing Cases Without Address Proof

HDFC Bank
ICICI Bank
IndusInd Bank
YES Bank
Axis Bank⚠️ Account Opening Required
Kotak Bank⚠️ Account Opening Required
ABFL
InCred
Finable

Address proof waiver is subject to internal verification and may vary by profile.

OD / BT Restrictions

HDFC Bank❌ Not Allowed
ICICI Bank❌ Not Allowed
Axis Bank⏳ After 2.5 Years
Fullerton⏳ After 2.5 Years

Top-Up Loan

Allowed after 3 months

Balance Transfer

After 6 months

Foreclosure: Allowed after 12 EMIs

Part-payment: Allowed up to 20% after 12 EMIs

Charges as per bank's prevailing schedule

BankMinimum Salary
Axis Bank₹15K (ETB) / ₹25K (NTB)
IDFC Bank₹20K
YES Bank₹25K
IndusInd Bank₹25K (Listed) / ₹30K (Unlisted)
HDFC Bank₹30K
ICICI Bank₹35K (Listed) / ₹75K (Unlisted)
Kotak Bank₹36K

NBFCSalary Requirement
Piramal₹15K
InCred₹15K
TATA Capital₹15K (TATA emp) / ₹20K listed
Finable₹20K
SMFG₹20K
ABFL₹25K (PL) / ₹40K (OD)
Shriram Finance₹25K
Chola Mandalam₹25K + Listed company
Poonawalla₹30K (Unlisted max ₹5L)
Bajaj₹35K Growth / ₹40K Prime
Axis Finance₹50K + Listed company only