Everyone thinks that in India, getting a personal loan at 18 is nearly impossible. It is because most lenders require a minimum age of 21 at the time of application. But I can share with you tips on how to get a personal loan at 18. You can apply for this loan as a secondary borrower.
How can I Get a Personal Loan at 18?
Loan agreements are legally binding, and banks require applicants to be adults with a stable financial footing, typically 21 or above. The under-21 demographic often lacks credit history, making them high-risk borrowers. While a standalone loan isn’t feasible, minors can be co-applicants on a parent's or guardian’s loan.
Though the primary borrower must be aged 21+, having an 18-year-old as a co-applicant improves eligibility via combined income and future credit tracking.
Many 18-year-olds start with secured credit cards or overdrafts against an FD. It establishes repayment history.
Open an FD-backed credit card or OD facility. Banks like IDFC or HDFC offer these from the age of 18.
Jointly open accounts with parents: A family-linked credit history can smooth future loan applications.
If you have a solid salary, a good credit history, and fulfillment of certain lender conditions, you can still get a personal loan at an 18-year-old.
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How to Get a Personal Loan at 18?
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8 months
2025-07-11T07:33:35+00:00 2025-07-11T07:33:37+00:00Comment
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