Five things to do to ensure approval of your personal loan - PowerPoint PPT Presentation

Loading...

PPT – Five things to do to ensure approval of your personal loan PowerPoint presentation | free to download - id: 88e817-NTJiZ



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Five things to do to ensure approval of your personal loan

Description:

Personal loan interest rates too are quite attractive, they are simple to apply for and need minimal documentation. Personal loans for self-employed people are a boon because of their minimal requirement. – PowerPoint PPT presentation

Number of Views:16

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Five things to do to ensure approval of your personal loan


1
Five things to do to ensure approval of your
Personal Loan
2
  • Personal loans are the best way to take care of
    extra expenses that may arise due to planned or
    unplanned circumstances.
  • The best personal loans can be used to pay for
    education, for home development, business
    expansion, or even for travel plans.

3
  • Personal loan interest rates too are quite
    attractive, they are simple to apply for and need
    minimal documentation.
  • Personal loans for self-employed people are a
    boon because of their minimal requirement.

4
If you too are considering taking a personal loan
for an upcoming home improvement or travel plans,
then here is how you can get it approved in five
simple steps.
5
Keep a Check on your Credit Score
6
  • Your credit score is the most important factor
    that is taken into account for loan approval.
  • It determines how worthy you are of getting
    credit.
  • It is determined by you previous borrowing and
    spending habits, your income is also a factor.
  • A healthy credit score makes it easy to get your
    loan approved.

7
Apply for the Proper Loan Amount
8
  • You need to consider the loan amount youre
    applying for very carefully.
  • Banks often reject loans, if the amount is to
    high and the person is already paying multiple
    EMIs.
  • Carefully consider your existing liabilities,
    your current income and expenses, before deciding
    on a loan amount.

9
Consider all factors before you choose your
provider
10
  • The primary thing that people look for while
    applying for loans is the interest rates, and
    they mostly choose the provider that offers them
    the best rate.
  • Compare multiple plans and consider other factors
    like loan tenure, maximum loan amount, processing
    fees, pre-payment/foreclosure charges, etc.
  • Apply for personal loan online, as it gives you
    to compare multiple options all in one place.

11
Ensure your Documents are in order
12
  • The basic documents that you require when you
    apply for a loan are, your PAN card, your AADHAR
    card and your bank statements, going back atleast
    six months.
  • Make sure you have all your documents in order
    before you apply for your loan, any discrepancies
    in these can lead to your loan not getting
    approved.

13
Dont make too many Applications
14
  • When you make a personal loan application, it
    generates a credit report request from the
    prospective lender.
  • This is called a hard look and the details of
    this credit report request show up on your credit
    report with date when this check was requested
    and purpose.
  • If multiple queries are generated simultaneously,
    your report will show details of these requests
    within a short interval.
  • This is deemed as credit hungry behaviour by
    prospective lenders and can lead to rejection of
    your personal loan application.
About PowerShow.com