Insta EMI Card eligibility and documents

Your personal information is required to determine if you can get an Insta EMI Card.

These factors are considered to check your eligibility and card limit.

1. Age: Customers who are between the age of 21 and 65 years are eligible to receive the Insta EMI Card.
2. Regular source of income: Your Insta EMI Card limit will be determined according to your monthly income. There is a catch to this, though. If you already have many loans open, you can be given a lesser limit until you settle one of them.
3. City: Depending on the city you reside in, your Insta EMI Card limit may differ. This is due to the fact that larger cities often have higher incomes than smaller cities.
4. Credit rating: For us, your credit rating is the single most crucial consideration. Numerous organisations known as credit bureaus (TransUnion, CIBIL, Experian, etc.) keep track of all of your loans and credit cards as well as your history of payments to determine your credit score. A better credit score increases your chances of receiving the card as well as the sanctioned limit. For our application, a CIBIL Score of 720 or more is required with no past record of defaults.
5. Repayment history: Repaying your EMIs on time is a sign of financial responsibility. Your credit score increases when you pay your EMI on time. Your credit score decreases when you don’t make a monthly payment.

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