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 a case-to-case basis. Personal loan application: Importance of other factors Apart from the credit score, the other factors that play an important role in personal loan approval include the following. For example, the Kotak Bank website mentions that a personal loan applicant must possess at least one year of work experience.

History of this topic

Top 5 myths about personal loan eligibility you need to stop believing
12 hours, 46 minutes ago
CIBIL score to get a home loan: How high should it be?
3 days, 17 hours ago
5 Tips to Get the Best Deal on Your Personal Loan
5 days, 13 hours ago
How to get a personal loan if you don't meet eligibility criteria? Here are 8 easy steps
6 days ago
Not meeting personal loan eligibility? THESE steps can help you fix it
6 days, 13 hours ago
Personal Loan: Can you qualify with a 666 credit score?
6 days, 18 hours ago
Personal Loan: How is technology transforming the borrowing experience?
1 week, 3 days ago
Personal loan: Can you get approved with a 450 credit score? Find out
1 week, 3 days ago
Not meeting personal loan eligibility? THESE steps can help you fix it
1 week, 4 days ago
Personal Loan: 6 factors that determine your interest rate
1 week, 5 days ago
How can a high or low credit score affect your personal loan interest rate? Check here
2 weeks, 6 days ago
Personal Loan: 6 crucial things you need to know before borrowing
2 weeks, 6 days ago
Credit Score: What is it and how does it affect your loan approval?
3 weeks, 4 days ago
How does your credit score impact personal loan approval and interest rate?
3 weeks, 6 days ago
Want a good credit score? Here are 8 key factors you must know
4 weeks ago
Personal Loan: How to get a pre-approved personal loan? Eligibility, benefits and process explained
4 weeks ago
Applying for a personal loan? Essential dos and don’ts to keep in mind
1 month ago
Can you get a personal loan? Check eligibility criteria first
1 month ago
Personal Loan: 10 common mistakes to avoid before you apply
1 month ago
Rejected for a personal loan or credit card? 5 reasons your application might fail
1 month, 1 week ago
Personal Loan: How does your DTI ratio affect your chances of getting a loan?
1 month, 1 week ago
Understanding Personal Loan Interest Rates: Key Factors to Consider
1 month, 3 weeks ago
CIBIL: How to improve your credit score with a mortgage loan?
7 months, 4 weeks ago
What Is The Minimum CIBIL Score Required For Car Loan
9 months, 1 week ago
Personal loan eligibility calculator: From eligibility criteria to documents required, key things to keep in mind
9 months, 2 weeks ago
CIBIL Score: What is it and why is it important? Key questions answered
9 months, 2 weeks ago
All You Need To Know About CIBIL Score, Its Importance In Taking Loans, Credit Cards
1 year, 7 months ago
When must you not rush to apply for personal loans? MintGenie explains
1 year, 10 months ago
Banks Check CIBIL Score to Approve Loans, Credit Cards; What Is It, Why Is It Important?
2 years, 8 months ago
CIBIL Score: Metric estimates your ability to repay personal loan; check steps to calculate your score here
3 years, 6 months ago

Discover Related