Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedabad INDIA www.veritastheteam.com
What is the minimum CIBIL™ score to get a personal loan?
It is generally advisable to have a credit/CIBIL™ score of 750 or above to qualify for a personal loan Your credit score is a three-digit number between 300 and 900 that gives potential lenders a quick idea of your credit health. The higher your score, the better are your chances of being approved.
CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.
As a first step, lenders typically look for a minimum credit/CIBIL™ score of 750 before deciding whether to go ahead with processing your application.
What is the role of my credit score in the loan process?
CIBIL™ collects and maintains records all your credit-related activity with banks, credit card companies and other formal lenders. It gets reports on a monthly basis from these lenders on all your transactions. This includes information on your EMI and credit card payments (including any late or missed payments), balance outstanding, any change to your total credit limit, and all other details relevant to your credit profile.
Based on this data, a complex mathematical formula is used to calculate your credit score. The score is a reflection of your credit behavior and gives potential lenders a snapshot of your credit-worthiness. If you have a good track record of making all your payments in time and in full, your score will tend to be high. If you have a history of defaulting on payments or using excessive credit, it will have a negative impact on your credit score.
I have a credit score below 750. Will I get a loan?
If your score is between:
300-599 – You will not qualify for a loan. Such a low score is a warning signal to lenders that you do not have a history of good credit behavior. Most lenders will reject your application right away. It is necessary to take immediate steps to rebuild your credit health and improve your score.
600-749 – Though it is not a high score, you might have a chance of being approved by some lenders. They might be willing to look at other factors that will impact your repayment ability in the future like the stability of your employment, your monthly salary, the extent of your other liabilities. If they think you have the ability to fulfill your repayment burden despite your middling score, your application has a chance of being approved.
750 and above – You have a very good chance of obtaining a loan with such a score. There are several other advantages to a high score: the approval process will be much faster; the loan amount might be larger; you might be able to negotiate a lower interest rate. The whole loan approval process is much simpler.
તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની જરૂરિયાત હોય, તો મેહરબાની કરીને અમારો સંપર્ક કરવા વિનંતી ઘર બેઠા સર્વિસ આપવામાં આવશે
- Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
- નોટરી / સોગંદનામું
- જન્મ પ્રમાણપત્ર
- લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
- પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
- નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
- પાન કાર્ડ નવા / કરેક્શન
- gst return filing (through C A)
- આવકવેરા રીટર્ન
- કાનૂની દસ્તાવેજો સુધારાઓ
- મની લોન્ડરિંગ લાયસન્સ
- આરોગ્ય લાઇસન્સ
- વ્યાવસાયિક કર
- નિકાસ આયાત લાઈસન્સ
- ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
- મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
- વેચાણ કરાર, વેચાણ ખત
અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો
સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.
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