Personal Loan: How to get a pre-approved personal loan? Eligibility, benefits and process explained
4 weeks ago

Personal Loan: How to get a pre-approved personal loan? Eligibility, benefits and process explained

Live Mint  

A personal loan is a widely used financial tool that helps individuals meet their funding needs. A pre-approved personal loan is provided instantly to selected individuals by various banks and NBFCs based on your creditworthiness and credit history. Interest rate: Due to your good credit history, you may get your personal at a lower interest rate while opting for a pre-approved personal loan compared to a personal loan. Good credit history Regular income source How to get a pre-approved personal loan? Eligibility: Your eligibility to get a pre-approved personal loan is solely based on the lender’s discretion on the basis of your credit history.

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History of this topic

Top 5 myths about personal loan eligibility you need to stop believing
12 hours, 31 minutes 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 …

How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps
5 days, 23 hours 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 …

Choosing the Right Type of Personal Loan for You
1 week, 4 days ago

Choosing the Right Type of Personal Loan for You

Live Mint  

Among the diverse financial products available today, personal loans stand out as a flexible and accessible option for individuals looking to meet their financial needs. Whether it's consolidating debt, funding a wedding, or managing unexpected medical expenses, personal loans can be the bridge to achieving your financial goals. Types of Personal Loans Understanding the different personal loan types can help …

Personal loan eligibility: How does having a co-borrower affect your chances?
1 week, 6 days ago

Personal loan eligibility: How does having a co-borrower affect your chances?

Live Mint  

Although applying for a personal loan might seem like a pretty big financial decision, having a co-borrower with you could make the process go easier. Let's see how adding a co-borrower to your application would increase the chances of it getting approved and even possibly make the loan conditions better. Higher interest rates: Better loan terms, whereby the interest rates …

5 key tips to boost your chances of instant personal loan approval
2 weeks, 3 days ago

5 key tips to boost your chances of instant personal loan approval

Live Mint  

Personal loans are one of the most convenient tools to access emergency funds. Source of income Most lenders would quickly approve instant personal loans for borrowers with stable incomes and steady employment. Different lenders may have a minimum monthly income limit to grant an instant personal loan. Good credit score One of the major criteria lenders look for when approving …

6 consequences of personal loans: What you need to know before signing up
2 weeks, 5 days ago

6 consequences of personal loans: What you need to know before signing up

Live Mint  

Personal loans are one of the quick sources of funds that cater to a variety of purposes such as debt consolidation, house repairs, and even sudden medical bills. High interest rates: As personal loans are not secured, they normally come with higher interest rates than other secured loans like mortgages and auto loans. Paying off debt with loans: Personal loans …

Personal Loan: 6 crucial things you need to know before borrowing
2 weeks, 6 days 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 …

Personal loan: Before zeroing in on a lender, make note of 7 key points
Trending News
3 weeks ago

Personal loan: Before zeroing in on a lender, make note of 7 key points

Live Mint  

If you are all set to borrow a personal loan, then the first and foremost thing that you need to do is to zero in on a bank to borrow the money from. It is recommended that you choose the best personal loan provider after examining your financial needs, carrying out a thorough research, and comparing different lenders and their …

Personal loan application: What are the documents required for a personal loan?
Trending News
3 weeks, 6 days ago

Personal loan application: What are the documents required for a personal loan?

Live Mint  

Are you planning something significant in your life, such as a wedding, remodelling your home, or that long-awaited bucket list vacation? However, before applying, however, you'll need to provide the following documents to the lender: In this article, we will examine the key documents required for a personal loan. Documents required for applying personal loan To ensure a fast and …

Personal Loan EMIs: A borrower’s guide for a smooth repayment strategy
Trending News
3 weeks, 6 days ago

Personal Loan EMIs: A borrower’s guide for a smooth repayment strategy

Live Mint  

A personal loan is a flexible financial option that facilitates quick access to funds for home improvements, meeting medical emergencies, travelling, or educational purposes. Unlike home or auto loans, personal loans do not require collateral but frequently have higher interest rates. In the early periods of the loan, a larger amount of your EMI is dedicated to interest, and the …

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …
Trending News
4 weeks ago

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …

Live Mint  

Life often presents us with unforeseen expenses includeasily available to people. Knowing the key benefits of personal loans can help you make well-informed financial choices to achieve your objectives. The interest rates on personal loans are usually affected by several factors, including your credit score, income, and the loan amount. Quick disbursement process: Personal loans are approved and disbursed within …

Personal loans: How is a pre-approved loan different from a regular one? See details here
1 month ago

Personal loans: How is a pre-approved loan different from a regular one? See details here

Live Mint  

If you fall short of money, then you can avail the option of raising a personal loan from a bank or non-banking financial company. Typically, banks give pre-approved personal loan offers to their customers with a high credit score and whose loan liability is non-existent or marginal. Some banks also offer pre-approved loans to their existing customers who already have …

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

What is a personal loan? A comprehensive guide for first-time borrowers
1 month ago

What is a personal loan? A comprehensive guide for first-time borrowers

Live Mint  

Personal loan loans are flexible financial options that can be availed in pursuit of different goals of life such as paying an emergency medical bill, funding home improvements or realising that special dream vacation. Important factors to consider before taking personal loans 1.Loan terms and conditions: Before taking a personal loan, always read the fine print. 2. Credit score: It …

Personal Loan: 10 common mistakes to avoid before you apply
1 month ago

Personal Loan: 10 common mistakes to avoid before you apply

Live Mint  

With the advent of digitisation, getting a personal loan is at your fingertips. Personal loan mistakes to avoid Taking a personal loan even when you don’t need it: From time to time, you will keep getting pre-approved personal loan offers from various banks, NBFCs, and fintechs. Minimum credit score List of cities whose residents can apply Before applying for a …

What are personal loans and how do they work?
2 months, 3 weeks ago

What are personal loans and how do they work?

Live Mint  

Personal Loan: While personal loans are popular for urgent needs, they carry high interest rates. To obtain a personal loan, you must adhere to specific guidelines and meet the Personal loans primarily depend on your credit score, financial status, and current market conditions. Interest rates vary by bank, but they are usually calculated using a simple formula: Interest rates vary …

Personal Loan Eligibility Criteria Explained
3 months, 3 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 …

What are instant personal loans? Here are 6 essential features that define them
6 months, 3 weeks ago

What are instant personal loans? Here are 6 essential features that define them

Live Mint  

Instant personal loans are a loan category specifically crafted to offer rapid access to funds, typically featuring a quicker approval process compared to standard personal loans. Diminished loan amounts : Compared to conventional personal loans, instant personal loans frequently have lower maximum loan amounts. : Compared to conventional personal loans, instant personal loans frequently have lower maximum loan amounts. Best …

Personal loans for big purchases: Here are the pros and cons
6 months, 4 weeks ago

Personal loans for big purchases: Here are the pros and cons

Live Mint  

A personal loan presents a viable option for financing significant purchases. In contrast to credit cards, which may have variable interest rates based on your creditworthiness or the state of the market, personal loans provide peace of mind. Possibility of reduced interest rates: Interest rates on personal loans are usually lower than those on credit cards, especially for borrowers with …

Considering a personal loan for higher education? Here are its advantages and disadvantages
8 months, 3 weeks ago

Considering a personal loan for higher education? Here are its advantages and disadvantages

Live Mint  

You might be eligible for a personal loan to fund educational endeavours. : Personal loans usually entail higher interest rates in contrast to student loans, potentially leading to a notable increase in your overall repayment amount. Not eligible for educational benefits: Opting for a personal loan for education means missing out on specific benefits offered by student loans, including income-driven …

Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind
9 months, 2 weeks 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, …

Unlocking Your Dream Home: Benefits of Pre-Approved Home Loan Offers
1 year, 1 month ago

Unlocking Your Dream Home: Benefits of Pre-Approved Home Loan Offers

The Quint  

Top 3 Benefits of Pre-Approved Home Loan Here, take a look at the top benefits of pre-approved home loans: 1. Faster Loan Disbursal Since the majority of your loan verification is done at an early stage, the home loan disbursal process becomes prompt and easy once the property is finalized. With a pre-approved home loan and pre-determined budget, the search …

5 scenarios in which quick Personal Loans can be useful
1 year, 6 months ago

5 scenarios in which quick Personal Loans can be useful

India TV News  

Getting credit now is easier than ever before. Here, personal loans are a viable choice because you can use the funds without any restrictions, and this includes paying off existing high-interest credit. You only have to pay the interest applicable on the personal loan Moreover, when you consolidate your debt, you are effectively closing your other credit accounts. Lenders provide …

When must you not rush to apply for personal loans? MintGenie explains
1 year, 10 months ago

When must you not rush to apply for personal loans? MintGenie explains

Live Mint  

How often do we hear that people with no money find it difficult to secure a loan whereas those with enough monetary investments or assets can easily obtain a loan? Sometimes, spending beyond a certain limit using your credit card can land you in debt, thus, prompting you to seek a personal loan to repay the debt amount. Having a …

Want to take pre-approved loan? Check what benefits you can get
2 years, 1 month ago

Want to take pre-approved loan? Check what benefits you can get

Firstpost  

Customers with a solid credit history are eligible to opt for a variety of benefits, one of which is a pre-approved personal loan. Benefits of pre-approved loan: If you acquire a pre-approved loan, you can get a lot of benefits: You can avoid waiting for loan approval if you have a pre-approved personal loan offer. If the pre-approved personal loan …

Personal Loans to Meet your Financial Needs
3 years ago

Personal Loans to Meet your Financial Needs

Deccan Chronicle  

The advent and rise of personal loans have provided possibilities to meet a variety of financial needs for consumers. Personal loans can be a great way to meet your financial needs without having to resort to high-interest credit cards. In that case, personal loans can be used for a variety of purposes, including: Medical expenses If you have a medical …

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