Best Way to Get the Lowest Interest Rate on Your Personal Loans
Even though a personal loan is one of the best financial modes to secure a large amount, many people still don’t apply for it. It is because lenders charge a higher rate of interest considering defaults risks.
But following a few tips, you can easily get the lowest personal loan interest rate in India. Do you want to know how? Don’t worry, go through this post!
- Maintain a healthy credit score
To avail of the lowest personal loan interest rate in India, the first trick is to maintain a strong CIBIL score. It signifies to the lender that you have paid your EMIs and other dues on time. Hence, they may reward you with personal loan approval at a reduced rate. A credit score of 750 or more is what may help you get quick approvals at a lower rate. It could be for an NBFC personal loan as well from banks.
2. Compare all available loan offers online
The next thing that you can rely on for the lowest personal loan interest rate in India is comparing all available loan deals online. You can do that online on a third-party website and pick an offer that best matches your needs and budget.
3. Use your employer’s credibility
If you work for a known company, lenders may be sure of you receiving your salary on time. Hence, it reflects that you may not delay the loan EMIs or default on it if approved. In this case, the lender may let you access the lowest personal loan interest rate in India.
Other than these aspects, having a consistent employment record, and repaying your existing loan EMIs and more can help you access an NBFC personal loan at a lower rate.
Bajaj Finserv brings to you pre-approved loan offers on personal loans, home loans and more. It can ease off your loan processing and make it faster.
By sharing your basic details like your name and mobile number, you can check out your pre-approved loan offers now.
Must Read: Know How You Can Avail Low Interest Rate On Personal Loan
