Tips to get your personal loan approved - PowerPoint PPT Presentation

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Tips to get your personal loan approved

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before you apply with one, make sure you’re going with a reputable lender, it’s always smart to shop around & compare for the offers and low rates. Don’t forget to check for your eligibility criteria, and to ensure your personal loan gets approved follow the above-mentioned tips. Visit: – PowerPoint PPT presentation

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Title: Tips to get your personal loan approved


1
Tips to Get Your Personal Loan Approved

2
Check your Credit Score
  • If you apply for a loan without knowing your
    CIBIL score, your application may get rejected
    for a low score. So, the first thing you should
    do when planning to avail a personal loan is to
    check your credit report, so that you dont get
    shocked when you apply for the loan. 

3
Reasonably Choose Your Loan Amount
  • One must apply for a loan amount reasonably after
    analyzing his/her repayment capacity. Checking
    the loan repayment capability based on the
    applicants current income is the first thing
    that lenders do as soon as they receive the loan
    application. Hence, if you apply for a big loan
    amount that would be difficult for you to repay
    in the decided tenure, then there are high
    chances that your loan application will be
    rejected.  

4
Meeting the Eligibility Criteria
  • The personal loan eligibility criteria may vary
    from lender to lender but generally, it is
    decided on factors such as- applicants age,
    income, job stability and debt to income ratio.
    With most of the banks, the age group who can
    apply for a personal loan ranges from 22 to 60
    years, and the minimum income required to get
    approved for a personal loan is ?25,000.

5
Do not Apply with Multiple Lenders
  • People do apply with several lenders at the same
    time to maximize their chances of getting the
    loan. But, doing this reduces your potential to
    get approved for a loan that you have applied
    for. When you do so, lenders can feel that you
    are hungry desperate for the loan. Lenders may
    also think that your loan application has been
    rejected with some lenders and hence you are
    applying with multiple lenders now. Moreover, too
    many loan applications without any single
    approvals can lead to a drop in your CIBIL score. 

6
Clix Capital Services Private Limited
  • Address
  • 901b, 9th Floor, Two Horizon Centre, DLF Phase V,
    Gurgaon, Haryana, India 122002
  • Phone Number 1800 200 9898
  • Email us at  hello_at_clix.capital
  • Website www.clix.capital

7
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