When a millennial applies for a loan, the lender recognises the fact that the applicant has a longer time to repay the loan. Therefore, they are comfortable with the idea of extending a longer loan tenor to the millennial. With a longer loan tenor, the Equated Monthly Instalment (EMI) reduces and even a millennial who has just started his or her career can afford to pay it regularly. Even the loan amount can be higher in the case of a young applicant. A young and an old person with a similar credit profile would be eligible for different loan amounts. It is likely to be higher in the case of the younger applicant due to the age factor.