Should I Accept A 750 Personal Loan

Can I get a personal loan from another bank if my salary account is at Yes Bank?

Certainly, you do not have to be a customer of a bank (hold salaried/savings account) to avail personal loans from that bank. But being a customer can give you some leverage as the bank can deem you more trustworthy (though it still depends heavily on CIBIL Score and credit history). You can also approach any alternate lender for the same, especially if you are in dire need of money. Online lenders are known for disbursing instant loans (in less than 24 hours) and they don’t demand high CIBIL Scores of 750+ like regular banks.

Can I take 3 personal loans at the same time?

Yes you can take 3 loans at same time. When are looking for the personal loan the lender or the bank who is giving you the loan is more important because as they always checks your potential of repayment. Every banks has some eligibility criteria so only if you are into that eligibility criteria only then you will be eligible to get the loan amount which you have applied for. There are so many metrics in that eligibility criteria one of the most important is the CIBIL score. If you have cibil score above 750 then you can get the loan without any problems. If you have even 650 as the cibil score you will still be eligible to get the loan but the interest rate will be higher.You can also get the personal loan within 24 hours by submitting online loan application.

Where can I get personal loans?

Internet is truly amazing! With a few clicks of mouse, you have a wealth of information at your fingertips. Why not utilize this readily available source to get a personal loan? One of the easiest ways of securing loan online is by means of online Peer to Peer (P2P) marketplaces.P2P lending - an Instant Financial Solution when you need Money!P2P lending is a modern way of securing financing. It is already a huge success in developed countries such as the USA and UK. These tech-savvy platforms will connect you with a vast base of money lenders or investors online, who will readily fund your loan on an agreed interest rate.You are simply, crowd-sourcing the funds you need. For lenders, your loan application is an investment (debt instrument) to gain returns better than average market returns (12% to 18% p.a.). When you start paying your EMIs they get their investment back. Interest is the price of the loan, and for lenders it is their earning. Thus, creating a steady cash flow for lenders while you get the funding on time.A FEW INTERESTING FACTS ABOUT P2P LENDING- These platforms are consumer friendly- You get an instant solution on phone or on web- You can avail a loan without any collateral- You can get a loan at the best rates (12%-36% p.a.)- Multiple investors will provide you with funding- Loan tenure is highly flexible (6 months to 36 months)- You can easily repay in the form of EMIs- Your profile will be vetted on the platform – only creditworthy borrowers are approvedYou can get a personal loan for business funding, debt consolidation, home renovation, home appliances and also, personal loan for a wedding.

Will I get a personal loan if my CIBIL score is 680?

As far as I see it, your CIBIL score is good enough to get you a good deal from any bank and NBFC in India. Mostly, a CIBIL score between 700-800 is considered a good score, and your score isn’t really bad. Given the 20 points difference which is negligible, you shouldn’t face difficulties in obtaining a personal loan. Moreover, you shouldn’t worry much about your score because more of your eligibility for the loan depends on how much you earn every month i.e how much you can afford to payback without difficulty. Hence, even if your credit score isn’t up to the mark, you have good chances of getting approved for a Personal Loan Online. Besides, even if your CIBIL score was zero, you would have got a loan by securing the same with a collateral.In the end, just to maximize your chances of getting approved, try the NBFCs first - they are flexible with their eligibility standards if the compromise is reasonable like in your case.

My CIBIL score is 557. Can I apply for a personal loan?

You can apply for a personal loan only when you meet all eligibility criteria. To apply for a personal loan you should have good credit score 750 - 900 so improve your credit score and apply for a loan. Else it is very difficult to get a personal loan and even if you get personal loan interest rate will be very high. so improve your credit score then apply.Personal Loan Eligibility CriteriaAge (Min-Max) - 25-60Income₹ 400,000EmploymentFulltime with at least 2 years of experienceDocuments Required3 months Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill/ Employers letter certifying current mailing address/Passport(Valid)- provided the passport address is present address mentioned in application form / Existing Registered House Lease/ Government I-card with photo

What is the best CIBIL score for a personal loan?

The minimum CIBIL score for a personal loan is generally 750 . Anything above this would mean that the applicant is creditworthy and applications are processed without hassle. In general credit scores range from 300 to 900; 300 being on the lower end of the range and 900 on the higher end.CIBIL Transunion score is a 3 digit number which represents your credit history.The CIBIL score ranges between 300 and 900 and this score is calculated on the basis of your credit report which contains your credit history . high score implies a good credit history , so the CIBIL score which is closer to 900 is better . if your CIBIL Score is closer to 300 there are high chances of your credit card application will be rejectedYour credit history is given highest weightage while calculating your credit score. How you have servced your past debt obligation has a weightage of 30% in your credit score calculation.

What is the CIBIL score required for a Personal Loan of 5+ Lacs ?

Mostly, loan seekers having a Credit Score of more than 750 have a higher chance of getting approved than those with a lower Credit Score. But, apart from your credit score, lenders assess your profile based on the following factors:1. Your income and expense: The first thing lenders look at is your income. Your income not only influences your affordability for the loan (which means the ability to pay-back the loan on time) but also influences your interest rate. If you have a higher income, your personal loan will be granted to you at low interest rate. This is because a higher income means that you can afford the loan and can pay back your dues on time.2. Your debt to income ratio: DTI measures a person’s ability to manage debt repayments. It is calculated by dividing a person’s total monthly debt obligations, by his net monthly income. It helps lenders evaluate the additional debt an applicant can handle. While applying for personal loan your existing EMI should be less than 50% of your monthly salary. If it exceeds more than 50%, you loan application will get rejected.3. Credit history: Lenders carry out a detailed analysis of your credit report before they avail you loan. Your Credit Report provides a detailed information of your payment history, your past and existing debts and your final credit score. A higher credit score will get low-interest personal loans as lenders would be confident in your ability to pay back the loan EMIs.As you have a very good Credit score, your chances of getting a personal loan are really high. You can check your affordability by using a Personal Loan EMI Calculator before applying for one.

Can we apply for personal loan if we have cheque bounce i.e. ECS not cleared?

I was one of the biggest victim of CIBIL and I am surely Qualified to answer this Question.. I was not knowing about CIBIL initially and I was not serious about Bounced EMIs as I was not knowing the impact of the EMI bounce. I understood the impact of this CIBIL after marriage.. I am applying Loans and all the loan getting rejected.. story not ended here it is a beginning.. I suffered almost 2 Years bring the CIBIL score to 750 by closing all the outstanding EMIs , credit card dues everything. CIBIL score increased then I thought I can get loan now.. but for my bad still loans are getting rejected.. because my repayment history was not good even though CIBIL score is good.. Then I got a suggestion to go for Secured credit card (Credit against Fixed deposite), I took that I started paying that properly. Now,I applied for Car loan somehow I got the loan from Volkswagen Finance.. then i started paying CAR loan and Credit card payments properly. After paying these payments properly for 6 Months , I am eligible for loan? YES but, they approve small amount only :) because, they dont belive me easily.. SO, my suggestion is even if there is any EMI bounce, please pay within a Month or Two.. dont keep it for long .. sometime Banks dont followup much for one EMI bounce.. but they will keep updating to CIBIL and long duration pending EMI will have worst effect… My CIBIL score was 426 in 2015 and now, it is 779 :)