PayUFin Policy for Salaried Segment

Overall Eligibility Parameters (Applicable for all programs)

Sr. Category Remark
No.
1. Loan Type Revolving credit line (Unsecured Loan) to salaried customers
2. Type of Approvals will be made based on 3 main models:
programs ● Salaried Verified Policy
● Banking Surrogate Policy
● Bureau Surrogate Policy
3. Loan Amount ● Minimum Amount – INR 5,000/-
● Maximum Loan Amount – INR 500,000/-
● For NTC/Thin file with salary >= INR 25K, Maximum Loan Amount – INR
100,000/-
● For NTC/Thin file with salary < INR 25K Maximum Loan Amount - INR 75,000/-
4. Tenure ● Overall - 3 to 60 months
● For NTC/Thin file, Tenure – 3 to 24 months
● For Salary < INR 25K, maximum tenure is 48 months, maximum loan amount is
INR 300,000/-
5. Customer Salaried professionals
Segment
6. Age ● Minimum age of 21 years at loan application
● Maximum age of 60 years at loan maturity
7. Locations All Management approved locations are allowed (Management approved pin
code list will be shared with the partner)
8. Income Minimum per month net salary
● INR 20,000 For Mumbai (including Navi Mumbai & Thane) & Delhi- NCR
● INR 18,000 for Other locations
9. Companies Employees of all types of entities are eligible under this program such as Public Ltd.,
Private Ltd., Partnership firm, Proprietorship firms and Government entities.
10. Bureau Minimum Bureau Score - 600 (CIBIL) and above
Checks NTC and Thin files (insufficient credit history) are also permitted under this policy
within specified loan amount caps
Loan cannot be extended to applicants with any one or more of following status:
a) Current overdue – (on any loans with overdue amount > INR 100/-) and (credit
card with overdue amount >INR 5,000/-) on active loans only.
b) 30 DPD in last 6 months – (on any loans) and (credit card with current balance
>INR 5,000/-)
c) 90 DPD in last 36 months on – (on any loans) and (credit card with current
balance > INR 1000/-)
d) Restructured Loan, Restructured Loan (Govt. Mandated), Written-off, Settled
(1), Post (WO) Settled, Written Off and Account Sold, Account Purchased and
Written Off, Account Purchased and Settled, Account Purchased and
 Restructured, Restructured due to Natural Calamity (on any loans ) OR (credit
card with Derog Amount >INR 1000/-) in last 24 months.
e) Ever - Suit filed, Wilful default
11. Residence Any one of the below mentioned conditions to be met
address ● Current Address proof matches with user declared current Residence
verification address
● Application address to match with the address provided in the Salary
account statement as noted by Perfios
● Physical Verification of Current Residence.
12. Residence Owned/ Rented/ Other types of residences are all allowed
Type
13. 1Employment Employment Verification is Compulsory for Bureau and Banking surrogate
3Verification
14. Other ● Banking E-Statement / Perfios mandatory for Verified income and banking
Parameters surrogate
● PAN with NSDL check
● Penny drop or Cancelled cheque to verify bank account
● Non-targeted profile and outside geo limits not to be funded.
● PAN starting from F series onwards and year of birth <1990 or PAN starting
from D, E series & year of Birth <1986

Income Verification Model Policy

S. No. Category Remark
1. Segment Salaried profiles
2. Minimum Minimum per month net salary
Income - INR 20,000 For Mumbai (Navi Mumbai & Thane) & Delhi- NCR
- INR 18,000 for Other locations
3. Income ● Net salary of last 3 months to be verified by Perfios (Netbanking or bank
verification statement)
● Median of the last 3 months’ salary to be taken as net salary for eligibility
assessment and line assignment calculations
● Salary slip is not required
● Credit line is based on stated salary if it is in the range of up to 5% deviation from
the actual salary (In any case, the maximum DBR / FOIR cannot exceed 70% of the
verified monthly income)

4. EMI/FOIR Proposed EMI will be equal to Salary Amount multiplied by Debt Burden
computation Ratio minus existing loan obligation;

FOIR by Salary Range (In INR):

For Bureau Score >= 675 (Cibil) For Bureau Score < 675 (Cibil)
 <=20K 35%* <=20K 30%*
>20 to 30K 45%* >20 to 30K 40%*
>30 to 40K 55% >30 to 40K 50%
>40K to 50K 60% >40K to 50K 55%
>50K 70% >50K 60%
*For Non-Metro cities FOIR can be +5% of stated above

● Loan obligation considered will be the higher of:

- Obligation appearing in bureau
- Obligation captured from bank statement (if available)

● No recent unreported loans. If customer has received any loan recently, as visible
in the bank statement, then loan amount should be considered for FOIR and
capacity re-calculation