Can you get personal loan with bad credit score? Here’s what you need to know
2 months, 2 weeks ago

Can you get personal loan with bad credit score? Here’s what you need to know

Live Mint  

Getting an urgent loan in India can be very challenging, especially for people who have bad credit. How to get a personal loan with a bad credit score? There are three significant ways through which you can secure a personal loan with bad credit score, such as: Income: A higher income even with a bad credit score, represents that the steady and sufficient income might make it easier for your loan to be approved. Lenders are more likely to grant approval to small amounts but may not consider large amounts because of the bad credit score. Tips for managing an urgent personal loan with bad credit score Understand loan terms: Before accepting a loan offer, review all terms and conditions, including interest rates, fees, and repayment plans.

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History of this topic

Personal loan: How is this different from a secured loan? An explainer
3 weeks, 3 days ago

Personal loan: How is this different from a secured loan? An explainer

Live Mint  

A personal loan is quite different from other variants of loans. Unlike other loans such as a house loan or a car loan, a personal loan is an unsecured loan. Rate of interest charged on personal loan is usually higher than that of other loans and it does not require a collateral from the borrower. Exorbitant interest rate: By virtue …

How to avoid the pitfalls of easy personal loans? 5 key points to note
3 weeks, 4 days ago

How to avoid the pitfalls of easy personal loans? 5 key points to note

Live Mint  

While personal loans are being made easily accessible in India, they are a solution in waiting for money to fulfill all possible needs, be it a health issue or weddings. Five things worth considering before availing a personal loan are listed below: Personal loans can come with high interest rates Personal loans can come with high interest rates, typically between …

How does your credit score affect your personal loan interest rate? An explainer
1 month, 1 week ago

How does your credit score affect your personal loan interest rate? An explainer

Live Mint  

If your credit score is high, it is quite easy to be able to get a personal loan offer at a low interest rate. When your credit score is mediocre : Getting a personal loan when your credit score is above 600 is feasible but the bank may charge a higher rate of interest. When it is good : A …

5 most common personal loan myths—What you should really know
1 month, 1 week ago

5 most common personal loan myths—What you should really know

Live Mint  

Whether an individual has a medical emergency or wants to enjoy a leisurely family vacation, a personal loan can provide the required funding. Some financial institutions consider a credit score of less than 700 also for giving personal loans provided the other factors are in favour. In cases where non-salaried applicants have a good credit score, low debt-to-income ratio, regular …

Credit score under 650? Here are effective ways to raise a personal loan
2 months ago

Credit score under 650? Here are effective ways to raise a personal loan

Live Mint  

Are you planning to raise a personal loan while your credit score is lower than 700? There are some banks which give loans to applicants who have a slightly poor score however, the loan amount can be lower, or the interest rate could be higher. The bank may give the same loan to an applicant with a low credit score …

Personal loan approval with a low credit score: Key tips and strategies
2 months ago

Personal loan approval with a low credit score: Key tips and strategies

Live Mint  

In the modern world, taking a personal loan may be the only option to overcome urgent financial obligations. Here we will guide you on how it is possible to receive a personal loan in India with a bad credit score. Here's how to raise your credit score: Pay your bills promptly: Paying for loans, credit cards and other utility bills …

How to achieve minimum credit score for getting personal loan? Details here
2 months ago

How to achieve minimum credit score for getting personal loan? Details here

India Today  

Rahul, a 30-year-old budding entrepreneur, faced rejection when he applied for a personal loan to start his business. Like Rahul, thousands of people face similar rejections when applying for a personal loan without realising how important it is to have a good credit score when securing a personal loan. So, in this article we will talk about what a credit …

What is the minimum credit score you need for personal loan and how to achieve it?
2 months, 1 week ago

What is the minimum credit score you need for personal loan and how to achieve it?

Live Mint  

If you are planning to raise a personal loan, it is important for you to know that your credit score should be high. Lenders require personal loan applicants to have a good credit score which means the borrower is worthy of taking an unsecured i.e., personal loan. Although different lenders have different criteria, a good credit score required to be …

3 things you can do to get personal loan at the lowest interest rate
2 months, 1 week ago

3 things you can do to get personal loan at the lowest interest rate

Live Mint  

A personal loan can solve a range of money-related problems – at least temporarily. Now, another pertinent thing that a personal loan applicant must strive for is to procure the loan at the lowest interest rate possible. So, let us explore different ways to get personal loan at lowest rate as possible: Three things one can do to get personal …

Emergency loans for bad credit: 5 effective ways to get approved
2 months, 1 week ago

Emergency loans for bad credit: 5 effective ways to get approved

Live Mint  

Life is unpredictable and financial emergencies tend to appear when they’re least expected. However, even if you have a bad credit score, there are several ways to get an urgent emergency loan. Steps to apply for an emergency loan Identify the right lender: Compare lenders offering emergency loans on a bad credit score. Key factors to consider before applying for …

Bad credit? Here's how you can still secure emergency funds
2 months, 1 week ago

Bad credit? Here's how you can still secure emergency funds

India Today  

Life’s unpredictability often leads to financial emergencies at the most inconvenient times. UNDERSTANDING THE CHALLENGE OF BAD CREDIT A credit score below 650 is typically considered poor, stemming from missed payments, high credit usage, or loan defaults. STEPS TO SECURE AN EMERGENCY LOAN Identify the right lender: Compare options and choose a lender offering competitive terms despite your low credit …

5 simple tips to get personal loans at lowest interest rates
2 months, 1 week ago

5 simple tips to get personal loans at lowest interest rates

India Today  

Personal loans are a quick solution to meet financial needs, whether for emergencies, weddings, or big-ticket purchases. STRENGTHEN YOUR CREDIT SCORE A good credit score is your ticket to lower interest rates. SKIP PRE-APPROVED OFFERS ON CREDIT CARDS Pre-approved personal loan offers on credit cards may seem convenient, but they often come with higher interest rates. While personal loans are …

Looking for a personal loan without income proof? Here’s everything you need to know
2 months, 2 weeks ago

Looking for a personal loan without income proof? Here’s everything you need to know

Live Mint  

Unexpected costs can arise at any time, as life is full of surprises. In this article, we’ll explore practical strategies for securing a personal loan without needing income verification. Options for personal loans without income proof If you're seeking a personal loan but prefer not to provide proof of income, there are options available. Eligibility of personal loan without income …

Top 5 myths about personal loan eligibility you need to stop believing
3 months, 1 week 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 months, 1 week 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 …

Can you get a personal loan with low credit score? Check details
3 months, 1 week ago

Can you get a personal loan with low credit score? Check details

India Today  

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 …

5 Tips to Get the Best Deal on Your Personal Loan
3 months, 1 week ago

5 Tips to Get the Best Deal on Your Personal Loan

Deccan Chronicle  

Selecting the best Personal Loan option with affordable rates, nominal charges, and favourable terms helps you rein in the borrowing costs and repay your EMIs with ease. Having a credit score of 750 and above increases your chances of getting quick Personal Loan approval at lower interest rates and better terms. Negotiate With the Lender Once you have checked the …

Can you get personal loan with bad credit score? Here’s how to make it happen
3 months, 1 week ago

Can you get personal loan with bad credit score? Here’s how to make it happen

Live Mint  

To get a personal loan, an individual has to fulfil the eligibility criteria. Ask the bank to lower the loan amount, if required With a lower credit score, the bank may find your current personal loan application risky, and hence unwilling to approve it. Getting a personal loan with a lower credit score is possible While a good credit score …

How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps
3 months, 1 week 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 …

Not meeting personal loan eligibility? THESE steps can help you fix it
3 months, 1 week ago

Not meeting personal loan eligibility? THESE steps can help you fix it

Live Mint  

A personal loan is the most preferred financing option by many as it does not require any collateral and can be used in multiple ways. Unsteady source of income: An unstable job or source of income suggests that the borrower might not be able to repay the loan on time, and therefore, the personal loan application is rejected. Factors such …

Personal loan: Can you get approved with a 450 credit score? Find out
3 months, 2 weeks 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 …

Not meeting personal loan eligibility? THESE steps can help you fix it
3 months, 2 weeks ago

Not meeting personal loan eligibility? THESE steps can help you fix it

Live Mint  

A personal loan is the most preferred financing option by many as it does not require any collateral and can be used in multiple ways. Before knowing how to improve your chances of getting a personal loan, it is important to know the reasons why your loan application would get rejected. Unsteady source of income: An unstable job or source …

Bad credit score holding you back? 4 proven tips to boost your rating
4 months ago

Bad credit score holding you back? 4 proven tips to boost your rating

Live Mint  

Your credit score is extremely crucial when it comes to determining your eligibility for borrowing funds. Lenders usually do not prefer granting loans to individuals with a low credit score as it increases the risk of getting their money back on time especially in the case of an unsecured loan. CIBIL Score Range Rating 300-500 Poor 550-600 Average 650-750 Good …

Applying for a personal loan? Essential dos and don’ts to keep in mind
4 months, 1 week ago

Applying for a personal loan? Essential dos and don’ts to keep in mind

India TV News  

Personal loans are popular forms of credit, but they come with higher interest rates and stricter eligibility criteria. Dos and Don’ts While Applying for a Personal Loan Dos: Take appropriate steps for secured loans Do thorough research: Before applying for a personal loan, compare lenders, interest rates, terms, and associated fees. Don’t ignore your credit score: A poor credit score …

Personal loans: What is an instant loan? All you need to know
5 months, 1 week ago

Personal loans: What is an instant loan? All you need to know

Live Mint  

Instant personal loan is a type of unsecured loan which gives quick access to money with minimal documentation and fast approval, sometimes within minutes or a few hours. Instant personal loans are generally offered by banks, non-banking financial companies, or fintech lenders and are quite handy to address short-term financial needs, which include but not limited to medical emergencies, travel, …

Poor Credit Score? Here's How You Can Still Secure A Personal Loan
6 months, 2 weeks ago

Poor Credit Score? Here's How You Can Still Secure A Personal Loan

ABP News  

Securing a personal loan with a poor CIBIL score can be challenging, but it’s not impossible. Here are some options you can explore if you're facing challenges due to a poor CIBIL score: Loan Against Fixed Deposits : If you have fixed deposits with a bank, you can take out a loan against them. Since the FD acts as collateral, …

When must you not rush to apply for personal loans? MintGenie explains
2 years, 2 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 …

How to build a good credit score for quick loans
6 years, 9 months ago

How to build a good credit score for quick loans

Live Mint  

At a time when education, healthcare and even daily household expenses are rising exponentially, your ability to borrow funds in times of need assumes greater importance. As financial institutions prefer to lend to those with credit utilisation ratio of up to 30-40%, credit bureaus reduce your credit score if you breach this level. As bureaus use this data to calculate …

How to get a personal loan without a credit score?
7 years, 3 months ago

How to get a personal loan without a credit score?

India TV News  

It is impossible to come across a scenario where one doesn’t need money to meet expected as well as unexpected expenses such as rent, fuel, child’s education, wedding, medical bills, etc. In the case of a personal loan obtained from a bank, credit score and credit history of an individual plays an important role in determining his or her eligibility …

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