Personal Loan

Minimum CIBIL Score for Personal Loan

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What is the Minimum Credit Score Required for Personal Loan Eligibility?

Your credit score is an indicator of your creditworthiness and is taken into consideration while providing advances. It reflects your repayment capability and subsequently provides the reassurance of repayment. It is crucial, especially in cases of unsecured advances like personal loans. Since there are no collaterals involved, the CIBIL score acts as an important personal loan eligibility criterion.
 

Minimum CIBIL Score to Avail a Personal Loan

CIBIL score is a 3-digit number that reflects your financial track record. It includes –

  • Past credit and debit history
  • Record of the payments of instalments
  • Nature of credit
  • Tenor of advances

Having a good CIBIL score of 750 and above reflects your higher repayment capability, increased creditworthiness, and makes you eligible to avail a personal loan. Subsequently, you can avail a higher loan amount and get better terms and conditions on your financial dealings. Considering that personal loans come with no end-usage restriction, this sanctioned amount can be used to fund diverse expenses including wedding costs, higher education expenditures, and cost of renovating your home.

With a high creditworthiness reflected via a credit score of 750 and above, you can avail a Bajaj Finserv Personal Loan against nominal eligibility criteria and documents.

These advances come with a host of lucrative features and benefits such as –

  • High-value credit amount of up to Rs.25 lakh
  • Nominal fees
  • Attractive rates of interest
  • Easy loan amount approval and quick disbursal of the same
  • Hassle-free application process

Bajaj Finserv also brings you add-on features like the flexi loan facility to meet your personal loan requirements. This facility allows you to pay interest-only EMIs on the withdrawn amount and not on the total principal.

You can also enjoy the benefits of the pre-approved offers that will further ease the personal loan processing.