Nowadays application process of personal loan has become quite easy. You can directly apply online for the same. Personal loans are basically unsecured loans that means you don’t have to provide any security to lender. You have to just submit few documents required to get a personal loan.
One thing which creates an impact on chances of getting a Personal loan is CIBIL Score. CIBIL score is basically a number which denotes your creditworthiness. CIBIL Score depends on the money flow in your account. So If your CIBIL Score is not enough then you can’t apply directly for a loan. In this case applicant have to follow some protocols to apply for a personal loan with bad CIBIL Score.
CIBIL Score changes according to different banks. Basically it ranges between 300 to 900 and if your score is between 750 to 900 then it is considered a good CIBIL Score to get a Personal Loan.
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