A personal loan is a loan of convenience that you can use to fund a range of requirements without pledging any collateral. You can avail personal loan to fund vacations, home renovation, wedding expenses, and more. That said, approval for a personal loan requires the applicants’ to possess a decent, up to the mark credit score. A CIBIL score is a three digit number ranging between 0 to 900; and would be in a good state if you have a flaw-less credit history i.e. you have paid all dues on time, you never missed an EMI, your credit utilization ratio is below 40%, etc. However, if you have a bad credit score i.e. you’re a credit defaulter, you might find it difficult to get approved for the said loan. Yet, there are still chances of you getting approved for a personal loan if you follow the below shared steps.
Must Read: LEGAL & FINANCIALCIBIL Defaulters Can Avail Personal Loan. Here’s How
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |