Work experience rules most banks expect
Most banks ask for at least 1–2 years of overall work experience, and typically require a minimum of one year with your current organisation. Lenders use these simple thresholds to get a quick read on job stability and the likelihood you’ll keep paying on time.
Why tenure matters to lenders
Banks aren’t just counting months on a résumé. Employment history is a proxy for repayment capability. Longer, continuous employment reduces the risk of sudden income loss, while frequent job changes or short stints can signal instability. Completing probation and holding a steady role reassures underwriters.
What banks usually look for
- Overall work experience: commonly 1–2 years.
- Experience with current employer: usually at least 12 months.
- Type of employment: permanent roles often score better than short-term contracts.
- Proof of income: salary slips, bank statements, and employer certificates.
Other factors that affect loan approval
Tenure is important, but it’s one piece of the puzzle. Lenders also weigh:
- Monthly income and job profile.
- Credit history and existing liabilities.
- Employer reputation and industry stability.
- Age, loan amount, and loan-to-income ratio.
How to improve your chances
- Wait until you complete at least 12 months at your current job if possible.
- Collect and present clear documents: salary slips, bank statements, and an employment certificate.
- Work on your credit score and reduce outstanding debts before applying.
- Consider a co-applicant or larger down payment to strengthen the application.
Understanding these requirements helps you plan before applying. Job stability and clean documentation go a long way toward a smooth loan approval.