Can you get a personal loan? Check eligibility criteria first
1 month, 3 weeks ago

Can you get a personal loan? Check eligibility criteria first

Live Mint  

Personal loans are helpful for fast money if you need such speed to cover medical costs, house improvement, or that dream vacation. Understanding eligibility criteria for personal loans Lenders often consider a variety of factors when determining eligibility for a personal loan in India. Age, income, employment stability, credit score, and existing debt are all important eligibility factors. Factors affecting personal loan eligibility Geographic location: Geographic location may influence approval levels because of the difference in the cost of living. Eligibility criteria for personal loan Here is the general outline of the basic requirements: Nationality: Citizen of India.

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History of this topic

Loan eligibility in India: Can an 18-year-old get personal loan? Requirements and process explained
1 week, 2 days ago

Loan eligibility in India: Can an 18-year-old get personal loan? Requirements and process explained

India TV News  

For young adults, securing a personal loan can be a significant financial milestone. To apply for a personal loan at this age, the applicant must meet certain eligibility criteria and follow specific steps. Here’s how an 18-year-old can apply for a personal loan: Check eligibility requirements: Lenders usually require applicants to have a stable income source, either through a job …

Top 5 myths about personal loan eligibility you need to stop believing
2 weeks, 5 days ago

Top 5 myths about personal loan eligibility you need to stop believing

Live Mint  

Personal loans are one of the most popular forms of credit which are opted by people if they are in need of quick cash and want to cover their financial needs temporarily. Personal loans offer instant loan disbursement and flexible repayment period which becomes a great choice if you are in an emergency and want financial assistance. If you do …

Struggling to get a personal loan? Here’s how to improve eligibility
3 weeks, 1 day ago

Struggling to get a personal loan? Here’s how to improve eligibility

Live Mint  

Major requirements in terms of finance will be changed with a high-value personal loan. Personal loans are flexible for all purposes, such as debt consolidation, emergency medical care, home improvement financing, and dream vacation planning. Personal loans typically carry higher interest rates compared to other types of loans. Key factors influencing personal loan eligibility They base a number of factors …

How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps
3 weeks, 3 days ago

How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps

India TV News  

Getting turned down for a personal loan can be frustrating, but not meeting the right standards doesn’t mean all hope is lost. Banks and financial institutions check a variety of factors such as your credit score, income, existing debts and documents before approving a loan. Consider low-cost loans If your income or credit score can’t support the amount of loan …

Personal Loan: Can you qualify with a 666 credit score?
3 weeks, 4 days ago

Personal Loan: Can you qualify with a 666 credit score?

Live Mint  

Credit score can help you get low interest rates on personal loans and is one of the major criteria of your application approval. A high credit score can help you get low interest rates and your desired loan amounts. CIBIL Score Range Rating 300-500 Poor 550-600 Average 650-750 Good 750-900 Excellent Can you get a personal loan with a 666 …

Personal loan: Can you get approved with a 450 credit score? Find out
4 weeks, 1 day ago

Personal loan: Can you get approved with a 450 credit score? Find out

Live Mint  

Personal loans are unsecured loans which provide you with quick access to funds for your personal needs. Hence, if you have a low credit score, your chances of getting a personal loan approved are quite low. Hence, a low credit score lowers your chances of securing a loan at a nominal interest rate as it increases risk for lenders to …

Personal loan for self-employed: What are the eligibility criteria, interest rates, and documents needed?
1 month ago

Personal loan for self-employed: What are the eligibility criteria, interest rates, and documents needed?

Live Mint  

While availing a personal loan is typically a hassle-free process for salaried individuals given the regular nature of their income, self-employed persons have to go through the rigour of convincing the lender to get the same. Lenders require self-employed persons to have a minimum income, which can vary by location, and the necessary financial documents that show stability of income, …

Personal Loan: 6 crucial things you need to know before borrowing
1 month, 1 week ago

Personal Loan: 6 crucial things you need to know before borrowing

Live Mint  

If you are planning to take a personal loan, it is important that you keep a few aspects in mind before you start with your application process. 6 key factors to consider before applying for a personal loan Understand your credit report: Credit score plays a major role in the personal loan approval process. Beware of misleading offers: Many lenders …

Credit Score: What is it and how does it affect your loan approval?
1 month, 2 weeks ago

Credit Score: What is it and how does it affect your loan approval?

Live Mint  

If you are someone who is interested in borrowing a loan or if you want to apply for a credit card, then knowing your credit score is extremely important. Lenders also pay close attention to your credit score for granting you the interest rate, repayment tenure and principal amount for your loan. Nevertheless, it is interesting to note that the …

Pros and cons of personal loans: Is borrowing right for you?
1 month, 3 weeks ago

Pros and cons of personal loans: Is borrowing right for you?

Live Mint  

Personal loans are one of the most sought after products in the field of finances, since they fulfil the need for instant money for any purpose. Personal loans are usually repos which are meant to meet specific needs despite the fact that as much as lenders set caps depending on your income and your ability to repay. No collateral required: …

Personal loan application: How does credit score matter and what are the other factors considered?
1 month, 3 weeks ago

Personal loan application: How does credit score matter and what are the other factors considered?

Live Mint  

Before applying for a personal loan with any bank, NBFC, or fintech, make sure you check the eligibility criteria. The higher the credit score, the better the chances of the personal loan getting approved, provided the applicant fulfils the other eligibility criteria. Some banks and NBFCs may consider personal loan applications with a lower credit score and approve them on …

Rejected for a personal loan or credit card? 5 reasons your application might fail
1 month, 3 weeks ago

Rejected for a personal loan or credit card? 5 reasons your application might fail

Live Mint  

Your credit score is a report card of your credit history and creditworthiness. Banks and NBFCs consider 750 and above a good credit score for approving credit card and personal loan applications. Factors considered for approving credit applications apart from credit score Some of the reasons why your credit card or personal loan may be rejected even after having a …

Instant Personal Loan: A Step-by-Step Guide to Getting Quick Cash
2 months, 3 weeks ago

Instant Personal Loan: A Step-by-Step Guide to Getting Quick Cash

Live Mint  

An instant personal loan is a type of unsecured loan that can be applied for online, eliminating the need to visit a bank branch. The application process can be completed in just a few simple steps. To qualify for an instant personal loan, you typically need to meet the following criteria: Age, CIBIL score, and work experience. The loan is …

Personal Loan Eligibility Criteria Explained
4 months, 2 weeks ago

Personal Loan Eligibility Criteria Explained

Hindustan Times  

Getting a personal loan in India can be a bit difficult. Things to Remember while Applying for Personal Loan What are Personal Loan Eligibility Criteria? Some common personal loan eligibility criteria in India include the following. Factors Affecting Personal Loan Eligibility Let's understand some common factors that affect personal loan eligibility in India. Some personal loan apps in India offer …

Getting a personal loan with no credit check? Here’s everything you should keep in mind
10 months ago

Getting a personal loan with no credit check? Here’s everything you should keep in mind

Live Mint  

It would be imprecise to assert that no lenders in India provide personal loans without conducting a credit check. Although rare, some lenders in India may provide personal loans without conducting a credit check. Unscrupulous lenders: Regrettably, certain lenders providing loans without credit checks may engage in predatory practices, incorporating concealed fees and unfair terms that can ensnare borrowers in …

Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind
10 months ago

Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind

Live Mint  

The particular prerequisites for applying for a personal loan may slightly vary depending on the lender. Best Personal Loan for you at lowest interest rate Instant Apply Documents required for personal loan Identity verification : This may involve providing documents such as your Aadhaar card, PAN card, passport, or Voter ID. Credit history: Although a positive credit score is preferable, …

Need A Personal Loan? Check Out The Different Types Available In India
1 year, 2 months ago

Need A Personal Loan? Check Out The Different Types Available In India

ABP News  

Personal loans are a great way to help with big expenses when you might be short on liquidity. Financial institutions offer travel-specific personal loans to help you deal with expenses related to flights, hotel accommodations, shopping, and much more. Education Loan Lenders provide education loans to help students realise their educational goals and achieve their dreams of securing higher education, …

Know Your Borrowing Capacity With a Personal Loan Eligibility Calculator
1 year, 2 months ago

Know Your Borrowing Capacity With a Personal Loan Eligibility Calculator

The Quint  

In today's fast-paced world, financial needs can arise at any moment. Input Details: To use a personal loan eligibility calculator, you need to input certain key details such as your income, age, employment type, existing loans, and desired loan tenure. Step 2: Locate the Eligibility Calculator Look for the "Personal Loan Eligibility Calculator" or a similar tool on the lender's …

Why can’t I get a loan despite good credit score?
1 year, 6 months ago

Why can’t I get a loan despite good credit score?

Live Mint  

My take-home salary is ₹1.1 lakh. Of this, I pay equated monthly instalments of ₹40,000 towards a home loan, besides monthly school fees, and a personal loan. As of now, my credit report, obtained from various credit bureaus, shows a score of 800 plus but I am unable to get a loan. So, if your income is ₹1,10,000 per month …

CIBIL Score: Metric estimates your ability to repay personal loan; check steps to calculate your score here
3 years, 7 months ago

CIBIL Score: Metric estimates your ability to repay personal loan; check steps to calculate your score here

Firstpost  

A credit score above 750 is considered excellent and can get approval for a personal loan at lower interest rates A personal loan is one of the most common borrowing options for people seeking funds for a variety of personal reasons. A credit score above 750 is considered excellent and can get approval for a personal loan at lower interest …

5 things you must know before going for instant personal loan
5 years, 8 months ago

5 things you must know before going for instant personal loan

India TV News  

You can use an instant personal loan to boost your finances or plug gaps when you face a sudden monetary shortfall. 4) Read Fine Print An instant personal loan is convenient and in case of an emergency, it can save you a great deal of time. This feature allows you to borrow from your sanctioned personal loan multiple times without …

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