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How To Get Qualified
for an Instant Personal
Loan?
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
Gather
Information
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.
Work on your
credit score
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
that’s good. But some
lenders require 750 at
least.
Add a co-
borrower
If you are unable to meet
the lender income
requirement, then
you can add your spouse
or direct relation as a co-
borrower.
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
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
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
REFERENCE URL
https://en.wikipedia.org/wiki/Loan
https://www.fullertonindia.com/personal-
loan.aspx
How To Get Qualified for an Instant Personal Loan?

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How To Get Qualified for an Instant Personal Loan?

  • 1. How To Get Qualified for an Instant Personal Loan?
  • 2.
  • 3. 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
  • 4. Gather Information 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.
  • 5. Work on your credit score 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 that’s good. But some lenders require 750 at least.
  • 6. Add a co- borrower If you are unable to meet the lender income requirement, then you can add your spouse or direct relation as a co- borrower.
  • 7. 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
  • 8. 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
  • 9. 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