Getting a personal loan with a low credit score might seem challenging, but it’s not impossible. HERE ARE SOME TIPS FOR OBTAINING A PERSONAL LOAN WITH A LOW CREDIT SCORE Bring in a guarantor or co-applicant Personal loans are unsecured, meaning no collateral is required. If your credit score is below the lender’s threshold, consider involving a guarantor or co-applicant …
When you apply for a personal loan, the bank or NBFC considers various factors for loan approval. Some banks may consider a DTI ratio of up to 40 – 45% range and still approve the personal loan application. A higher DTI ratio impacts your personal loan application in the following ways: If the DTI ratio is above a specified percentage, …
Two of Australia's biggest banks have moved to curb high-risk home lending, as the regulator revealed it has been warning some institutions to cut back on risky loans. Key points: APRA's boss revealed the regulator has contacted some banks about a surge in risky high debt-to-income loans ANZ and NAB have recently imposed new, lower caps on such loans The …
