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How To Increase your Personal Loan Eligibility

· Finance

The popularity of unsecured personal loans is increasing day by day so if you also thinking about taking a personal loan then you can’t deny the eligibility factors of a loan. The factors of eligibility do not only depend on your employment, many other indirect aspects play an important role in the process.
 

In this situation using an online eligibility calculator always helps, An online eligibility calculator can calculate that either you are eligible or not for the loan. So you can check your chances before applying for the loan.

Here are some other tips to increase your personal loan eligibility:

CIBIL Score:

CIBIL score plays an important role in personal loan approval process, usually, banks and NBFCs asks for a CIBIL score for personal loan between 750 to 900 so if your CIBIL score is between this limit then you will face no trouble in getting a personal loan. But in the case of lower CIBIL score, it becomes quite difficult to get approval on your application. So a better CIBIL score is a first step of fulfilling eligibility criteria of personal loan.

Income:

Bank and NBFCs decides your repaying capability on the basis of your income, higher personal loan amount always comes with a higher Income.

 

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