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Upwards personal loans are offered at rates starting as as low as 12% p.a. These unsecured loans can be availed online for amounts as low as Rs. 20,000 and as high as Rs. 2 lakh. Additionally due to completely online process, minimal documentation requirement and quick disbursal, these personal loans are a popular choice for those seeking easy access to cash for various personal expenses. The following are details regarding the eligibility criteria and factors impacting eligibility for personal loans from this online lender.
Upwards Personal Loan Eligibility Criteria
The following personal loan eligibility criteria must be mandatorily met when applying for a loan with Upwards:
- You must be a resident of India
- You must be more than 21 years old
- You must have a minimum salary of Rs. 20,000
Upwards may at its discretion require you to meet additional eligibility criteria when applying for a personal loan.
Upwards Personal Loan Eligibility Calculator
You can make use of the Paisabazaar’s personal loan eligibility calculator to know if you are eligible to avail a personal loan from Upwards. This calculator is free and easy to use. You can check your eligibility by simply filling in some basic information including your current city of residence, occupation/employment type, loan amount, etc.
How to Improve Your Upwards Personal Loan Eligibility?
Given below are some tips that could help you increase your chances of securing a personal loan from Upwards:
- Try and maintain a high credit score (closer to 900). It indicates a higher creditworthiness and better repayment capacity and thus, helps you avail a personal loan more easily.
- Reduce your outstanding debt. Lower outstanding debt helps you have higher disposable income and increases your eligibility for availing and servicing a new loan.
- Refrain from submitting multiple loan applications at the same time. It shows credit hungry behaviour and also leads to an increase in the number of hard enquiries for your credit score report which in turn negatively affects your credit score.
- Maintain a low credit utilisation ratio (preferably 30% or lower). It indicates a higher creditworthiness and a lower dependence on credit and thus enables you to avail a personal loan more easily.
- Try and maintain a balanced mix of secured and unsecured credit. This shows responsible credit utilisation behavior in the past and can help enhance your eligibility for a new personal loan.
FAQs
Q. Who is eligible to avail a personal loan from Upwards?
Salaried individuals are eligible to avail Upwards personal loan as long as all the eligibility criteria specified by the lender are met.
Q. How long does the loan application process take?
Upwards personal loan application form is simple and takes only 15-30 minutes to fill out.
Q. What are the processing fees for an Upwards personal loan?
Processing fees of an Upwards personal loan is a minimum of Rs. 500 and can range from 1.5% to 2% of the loan amount sanctioned.
Q. How can I contact the Upwards customer care?
- You can call 1860-267-4777
- You can email help@go-upwards.com
Q. What are the key documents required to apply for a Upwards personal loan?
You will have to upload self-attested images of the following documents:
- Identity Proof – PAN Card / Aadhaar Card
- Address Proof – Phone, electricity or any other Utility Bill
- Income Proof – Salary Slips of last 3-6 months / Bank Statement of last 6-12 months
Q. How long does Upwards take to disburse its personal loans?
Upwards takes upto 48 hours to approve/reject a personal loan application and additional 3-5 working days to disburse the loan amount.