Six Tips for Improving Your Personal Loan Eligibility

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personal loan eligibility



 

With the wedding season and festivals quickly approaching, you may need money to keep your commitments and plans intact. And it can be tough finding some extra cash due to monthly payments like rent, energy, water, and other utility payments. Even if all this is sorted, it’s tax season as well. Consider applying for a collateral-free personal loan without extensive paperwork to fund your personal financial needs. 


Here are six suggestions to help you enhance your personal loan eligibility and qualify for one before you apply.


These will typically assist you in obtaining more credit at lower interest rates.

1. Apply for the loan online – choose a trusted lending institution like Clix Capital

2. Reduce your debt-to-earnings ratio.

3. Keep a good credit score, minimum 630.

4. Have a minimum monthly salary of Rs 20,000/-.

5. Choose a manageable loan tenure: 12-48 months

6. Avoid applying for several loans at once.


Now that you're all set, you're ready to get the best personal loan offer. Remember to borrow only what you can afford to repay, while keeping up with your other financial commitments.


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