Although you can get a personal loan, you may not want to go for it due to the high-interest rate. The interestrates of personal loans are pretty exorbitant. If you're going to get personal loan at the best interest rate, you must look forward to these ways.
Maintain a good credit score
It is the first thing everybody should keep in mind before getting any personal loan at an attractive interest rate. A higher CIBIL score can help you to get faster loan approval. Moreover, if you have a higher CIBIL score, you can be eligible for more immediate support. Make sure that your CIBIL score is above 750. It ensures that you pay your EMIs and bills on time.
Compare various lenders
A good credit score can help you get a personal loan at a minimum interest rate. Before you borrow a loan amount, you should check for offers from various lenders. It may be a confusing task, but you need to indulge in this tedious task to enjoy affordable interest rates. Moreover, you should also look forward to the EMI amount with the help of a personal loan calculator.
Good repayment record
It is one of the ways to avail of personal loans at low-interest rates. If you have a good and clean record for any existing loan EMI means, the lender would consider you for a ready loan. Before you apply, you can also take the help of a personal loan calculator to calculate your loan EMI. Then if you want to get the best personal loan online, you can do it without any inconvenience. For hassle-free processing, you can apply online with Bajaj Finserv and get a personal loan of up to Rs.25 lakh.
Apply with a known lender
If you want a personal loan at a low interest rate, you should apply with any known lender. The lender would already know about the financial profile. It can open the possibility of sanctioning the amount at an affordable rate. On the other hand, it can also help you repay the reduced EMI without creating any problem with your monthly expenditure.
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