Minimum Credit Score For Personal Loan In India

The main features of the loan are.

Minimum credit score for personal loan in india. To get a personal loan you must have a stable source of income and a good credit score. You can check your personal loan eligibility online using a personal loan eligibility calculator. Sbi xpress credit personal loan.

It happens sometimes that we find difficulty in repaying our debts that indirectly affect our credit score. If you are a salaried professional having minimum monthly salary of rs. But do not go for a personal loan if you want to boost your score because of this.

Hdfc bank is one of the premier banks in india with a wide variety of credit products to cater to all your needs. With this score you are eligible to fetch a higher loan amount faster approval and scope of negotiating in the interest rate on the loan. The credit score for a personal loan plays a vital role in determining your eligibility rate of interest and loan amount that will be sanctioned to you apart from other eligibility criteria.

As you have now seen that when you can opt for a personal loan we will put some light on when not to go for a personal loan. The credit information bureau india ltd also referred to as cibil is one of the credit agencies authorized by the reserve bank of india rbi to calculate this score for an individual. The higher the number the lower the perceived risk.

It offers personal loans to individuals with a credit score in the range of 600 700. State bank of india personal loan. 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.

You can get a personal loan with a cibil of 750 and above. The minimum cibil score for loan approval is 750 or above. Sbi bank offers personal loan under three categories sbi xpress credit personal loan sbi pension loan and sbi xpress power personal loan.