CIBIL score is one of the essential eligibility requirements you need to meet when availing a loan. A healthy credit rating enables you to enjoy attractive features and benefits. Most people holding a poor CIBIL rating, therefore, find it difficult to qualify for a loan. To meet the financing requirements of such people with a low credit score, Bajaj Finserv brings loan for low CIBIL score holders in the form of a loan against property.
Meet the minimum eligibility and submit the required documents to avail this online loan for bad credit without much hassle. The financial product comes with a quick and easy approval process and gives access to high-value loan amount against collateral.
Now, understand the two most important terms, i.e., CIBIL score and loan against property in details.
The Credit Information Bureau (India) Limited assigns a 3-digit number ranging from 300 to 900 to every individual. It is known as the CIBIL score or credit score, which largely signifies the financial habits of that person along with his/her creditworthiness. Calculation of the score is done based on CIR or Credit Information Report. An individual’s credit history forms an essential part of it.
CIR uses the following parameters for credit score calculation –
An increase or decrease in parameters mentioned above affects the credit score. So, if you are wondering how to improve credit score, you can consider the following:
With your worries of how to increase CIBIL score resolved, have a look at Bajaj Finserv’s Loan Against Property, an advance you can avail even with a moderate credit score..
Also Read: Tax Benefits on Loan Against Property
Loan against property is a type of secured loan. You need to mortgage a property like residential or commercial property, land, manufacturing space, etc. to avail a Loan Against Property. The mortgage is used as a security which can be liquidated to recover the outstanding amount in case the borrower defaults. So, with a lower risk of lending, financial institutions let you borrow it even with a low CIBIL score.
Meet the minimum credit score requirement of 750 to successfully apply for Loan Against Property with Bajaj Finserv. Get high amounts of up to Rs. 3.5 crore with an extended tenor ranging to a maximum of 20 years. This way, you can borrow money with bad credit. Use the ways mentioned above to improve your credit score so that you can enjoy exclusive benefits and better rates.
Check out the affordable Loan Against Property interest rates and charges, and estimate monthly outflows through our online EMI calculator.
With an easy-to-meet loan against property eligibility and document requirement, Bajaj Finserv makes it convenient to avail the loan. Apply for it today and use the funds to meet your big-budget financial needs, both personal and professional, effectively.