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How Much CIBIL Score is Required For Personal Loan

What is CIBIL Score and how much score is required for Personal Loan

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CIBIL Score changes according to different banks. Basically it ranges between 300 to 900 and if your score is between 750 to 900 then it is considered a good CIBIL Score to get a Personal Loan.
CIBIL score is basically a number which denotes your creditworthiness.

CIBIL Score depends on the money flow in your account. So If your CIBIL Score is not enough then you can't apply directly for a loan. In this case applicant have to follow some protocols to apply for a personal loan with bad CIBIL Score.

Posted on Apr 24, 2017

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Posted on Jan 02, 2017

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1 Answer

What debt should take priority a line of credit or a credit


To bring any change in your credit rating or your CIBIL score, loan is the best tool. Any form of debt, liability or loan that you apply for and then repay it on time will help to enhance your credit score.

Among these two options- a line of credit and credit card, a credit card is a better option. In case of credit card, you can purchase anything and everything and pay at a much later stage. So, this is a dangerous tool. If you can maintain it and repay the amount within the specified time, you can gain a good credit score. But, if you can't then it can be negative for you.

In case of line of credit, it is simply a limit set by the financial institution as per your capability. You can apply for a loan up to that predefined limit, but this won't help you to improve your credit score until and unless you take the loan and repay it on time.

Oct 09, 2017 | Computers & Internet

1 Answer

What are requirements of personal loan in Chandigarh?


You must know the requirements for personal loan in Chandigarh before applying. There are couple of main factors that are inseparable from a personal loan are a high CIBIL score above 750 and a higher rate of interest that you need to pay to the lender.

The eligibility criteria associated with a personal loan are generally more in banks as compared to any NBFC. So, to avoid the lengthy documentation part and to experience a hassle-free application procedure, you must try any NBFC.

a.) You should be an Indian citizen
b.) Your age should be minimum 21 years
c.) You should be a salaried professional or a self-employed individual

Jun 09, 2017 | Personal Computers & Internet

1 Answer

Can I take a Personal loan in Delhi For Personal Expences


Indeed, you can take a Personal Loan in Delhi for Personal finances, since you can use the funds garnered from the personal loan as per your own needs. All that matters is whether you are eligible in terms of your monthly salary, nature of employment, age and CIBIL score. Once you provide all documents including bank statements.

May 15, 2017 | Personal Computers & Internet

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What is CIBIL TransUnion Score 2.0 ?


In India almost every bank and NBFC consider CIBIL score as a major component. CIBIL score is basically a three digit number which vary between 300 to 900. This number or score show your creditworthiness.

Usually Banks and NBFCs consider 750 and above as a good CIBIL score. If your credit score/ CIBIL score is below the 750 you will face difficulties in approval process.

Now after a long time Transunion Company come up with a new criteria for CIBIL score 2.0 CIBIL TransUnion Score 2.0 is the advanced version of FICO assessment. The Biggest distinctive is, it is for the new borrower with no Record of loan repayment. in this CIBIL Score 2.0 any individual who has no record as a consumer will get a state of 1 to 5 in these time of 6 months time.

May 01, 2017 | Computers & Internet

1 Answer

Credit score


You can get your credit score online at https://www.banks.com/. To get your credit score all you have to do is fill out an application and the entire process takes less than 15 minutes. To begin with, you will have to fill in your personal details like name, phone number, date of birth, identity proof and address proof. Click on submit and you can get your credit score.

Checking your credit score will help you in taking required action to improve so as to become eligible for a personal loan. Now, why is it important?

Well, if you are in dire need of money and you approach a bank for a loan and your credit score is poor, then your loan won't be approved. As you sow, so you reap. If you never cared about your credit score, bank will never care about giving loans to you. Think twice.

Feb 09, 2017 | Computers & Internet

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How much credit score is needed to get a Home Loan in Madurai?


Usually Banks and NBFCs demand for a CIBIL Score between 750 to 900 but in case of Home Loan CIBIL score is not the deciding factor for your loan approval.

Home loans are secured Loans and Lenders have different mortgage programs which allows an applicant to apply for a Home Loaneven with low credit score. In this case interest rate of Home Loans goes high.

So you can easily apply for Home Loan in Madurai and you Credit Score will not affect the chances of Home Loan Approval.

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What Is A Minimum FICO Credit Score Requirement For Getting Business Loan?


no doubt there is and any lending institution can assist you with this . we have no idea here on this FIXing site

Sep 01, 2016 | Computers & Internet

3 Answers

What is a good cibil score to get a personal loan?


A good CIBIL rating varies from 750-900. If you have a score of 750 and also above, banks and also other NBFC's consider you to be credit healthy. However if you have a rating less compared to 750, banks feel it is as a risk to offer you a loan or credit card. Financial institutions and various other NBFC's are comfortable with approving lendings to customers that have a score of 750 as well as above. Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699
Poor Credit: 600-649
Bad Credit: below 600
A good CIBIL score is one of the main requirements for a business loan because business loans are essentially unsecured loans which makes them more risky for banks. A good credit score indicates that the borrower is responsible when it comes to repaying their loans and credit cards.

Jun 29, 2016 | Home Money Manager Home Loan Interest...

1 Answer

What Is The Minimum Credit Score Required For An SBA Loan?


Based on the lender, but for an average lender, your credit rating can be as low as 640.

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