At Mercflames, we help you connect with suitable loan options through our network of RBI-registered banks and NBFCs.
Each lender has its own eligibility criteria; however, the general requirements are outlined below.
Mercflames is a Direct Selling Agent (DSA) and acts only as an intermediary. Loan approval depends on the respective bank/NBFC policies.
Basic Eligibility Criteria
Minimum age: 21 years
Maximum age: 60–65 years (varies by lender)
Indian resident with valid ID proof
Stable source of income
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Eligibility for Salaried Individuals
Must be employed with a reputed organization (private/public/government)
Minimum monthly income as per lender requirements
Work experience: Minimum 6 months to 2 years
Stable employment history
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Eligibility for Self-Employed Individuals
Business must be operational for at least 2–3 years
Regular income and profitability proof
ITR filings for last 1–3 years
Business stability and creditworthiness
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Credit Score Requirement
Most banks and NBFCs prefer a credit score of 700 or above for faster approval and better interest rates.
However, loan options may still be available for lower scores depending on lender policies.
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Documents Required
Identity Proof (Aadhaar Card, PAN Card, Passport, etc.)
Address Proof
Income Proof (Salary slips / Bank statements / ITR)
Employment or Business Proof
Passport-size photographs
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Factors Affecting Loan Eligibility
Monthly income and repayment capacity
Existing loan obligations (EMIs)
Credit score and repayment history
Age and employment stability
Type of loan applied
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Loan Types Covered
Personal Loan
Business Loan
Home Loan
Loan Against Property
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Important Note
Eligibility criteria may vary across lenders. Meeting the above criteria does not guarantee loan approval.
All loan approvals, interest rates, and terms are subject to the respective bank/NBFC’s policies.
Mercflames, as a Direct Selling Agent (DSA), facilitates the application process but does not provide loans directly.
