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Employers letter certifying current mailing address. Passport (Valid) What is the minimum and maximum personal loan interest rate calculation formula for Insta Loan. The minimum and maximum tenors for Insta Loan are 12 months and 24 months respectively.
Under what conditions can I be denied an Insta Loan. You can be denied an Insta Loan, if you fail to meet the required eligibility criteria like:- Age Criteria - If you are a salaried employee and your age is not between 21 to 60 days or you are self-employed and age is not between 25 65 then your Insta Loan application can be denied. Employment Stability - If you are salaried person and your work experience in current profession is not more than 2 years, or if you a self-employed and your total tenure of earning is less than 5 years then also your Insta Loan application will be denied.
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Loan fees and interest rates are determined solely by the lender based on the lenders internal policies, underwriting criteria and applicable law.