Personal loans are among the most widely availed credit options due to their easy availability and minimum eligibility criteria. While personal loans come with a hassle-free procedure of application and approval, few parameters are a must to fulfil. Holding a good credit score is one of them. So, if you are a personal loan defaulter, here’s what you should know when seeking to avail this loan.
CIBIL score is a 3-digit number that represents a borrower’s credit history and repayment habit. Varying between 300 and 900, it can change as per an individual’s credit usage and repayment pattern.
Hence, the term ‘CIBIL defaulter’ is technically incorrect. Individuals who carry a low CIBIL score can, however, take steps that can help boost the score.
For a personal loan defaulter, however, here are the steps that can help you receive a personal advance even if the score is low.
Take care of these factors to avail a personal loan from Bajaj Finserv at attractive rates of interest. Meet the necessary eligibility criteria and proceed to apply for a personal loan with ease.