How To Get Qualified for an Instant Personal Loan?

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How To Get Qualified for an Instant Personal Loan?
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6 KEY WAYS TO QUALIFY FOR PERSONAL LOAN

• Gather Information
• Work on your credit score
• Add a co-borrower
• Choose a longer tenure
• Keep all your documents ready
• Maintain stability

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Each lender has different criteria and
requirements. You have to gather all the
information like how much income require, what
documents need, and what is the credit score cut
off.
Gather Information
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In India, Credit score is a three-digit value
that reflects the credit-worthiness of an
individual. If you have a score of 700 and above
thats good. But some lenders require 750 at
least.
Work on your credit score
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If you are unable to meet the lender income
requirement, then you can add your spouse or
direct relation as a co-borrower.
Add a co-borrower
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If you select a longer tenure, then you bring
down the EMI you have to pay every month easily.
So, if your income is low, then a long tenure
would make the loan affordable.
Choose a longer tenure
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You need to submit a valid Govt ID and address
proof like Aadhaar, driving license, passport,
voter ID, and so on. You also need to show proof
of your income.
Keep all your documents ready
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Before a lender approves a loan, they will check
are you live in your home at least 1 year or not
and also check your job stability. So, you need
to show you are stable.
Maintain stability
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REFERENCE URL
https//en.wikipedia.org/wiki/Loan
https//www.fullertonindia.com/personal-loan.aspx
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