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How To Avoid Personal Loan Rejection In 4 Ways?

There are few things to keep in mind when you apply for a personal loan delays in the process. Here they are,

4 major ways you can clear the personal loan process easily.

1. Credit score - make sure to have no outstanding on your credit card. Always make payments on time or before time and in full. Doing this you can maintain a good credit score of 750+, which is an ideal score to get your loan sanctioned. Do not close credit cards with good payment history even if you are not using them. Use 30% rule of credit utilization. i.e., keep 30% free in your credit card. You may even opt for timely offers from your bank to get your credit limit enhanced, as it will help you maintain the 30% rule.

2. Proper documentation - when applying for a Instant Personal Loan always submit proper documentation such as identity proof, income proof, bank statements etc. Having the right documentation will also help you easily get through the online loan process and avail instant approval.

3. Income source - having a steady job/ source of income implies you are capable to pay off your loan on time. In case you switched a job ensure you you have other income source such as income from rent, interest payouts, to name a few.

4. Other criteria - such as, age criteria which must be between 25-58 years is important to be fulfilled. You must hold an Indian passport meaning you are an Indian citizen eligible for the personal loan.

You can easily apply for personal loan online. The process requires minimum documentation and provides instant approval on meeting the eligibility.

How To Avoid Personal Loan Rejection In 4 Ways
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