Today, you can get an online personal loan in hours by meeting the lender’s eligibility terms. However, planning the loan is key to a good experience when borrowing and repaying. While using a Personal Loan EMI Calculator can help you compute the right tenor and loan amount, personal loan interest rates affect how easily you can repay.
The first thing you should do is check different personal loan interest rates offered in the market when you intend to borrow. Each lender has its rate, and these rates dictate your cost of borrowing. Remember, the higher your interest rate, the higher your EMIs. You can check this yourself by using the simple loan EMI calculator online. You can optimize your repayment by choosing a lender with the most competitive personal loan interest rates.
Bajaj Finserv not only offers an Instant Loan for Salaried Employees with an easy online application but also some of the most nominal personal loan interest rates. This summer, you can further ensure you get the best rate possible by putting these tips into action.
Maintain a healthy CIBIL score
Getting an instant personal loan is higher if you maintain a good CIBIL score. When the lender decides personal loan interest rates and other disbursement terms for you, it also comes into play. When you have a good credit or CIBIL score, the chances are that you get a lower interest because of your credit worthiness. A high credit score will also allow you to negotiate a good deal.
You can maintain a good CIBIL score by making timely credit repayment, having a good debt-to-income ratio, having some experience with credit and its various types, and not relying too much on credit.
Make use of your employer’s reputation or your profession
Your work profile plays a vital role in deciding the terms for your personal loan, be it the loan amount or the personal loan interest rate. Simply meet the minimum salary requirement as per the Bajaj Finserv Instant loan for Salaried employees to qualify for the loan.
However, when you have a higher salary than the minimum required or work with a reputed private or public company or MNC, there is a higher chance for you to get nominal personal loan interest rates. Your profession and total work experience can also help you get a good deal as it points to a steady income and overall stability.
Keep an eye out for pre-approved offers
A pre-approved offer from Bajaj Finserv is one you get based on your previous relationship with the NBFC. Generally, personal loan interest rates on pre-approved offers are comparatively better as Bajaj Finserv already knows you are a reliable borrower. These loans are also available instantly and with minimal documents, because your profile has already been verified. It takes just minutes to check your online personal loan pre-approved offer and through it you can get the loan in just 20 minutes!
Meet the simple Bajaj Finserv Personal Loan eligibility criteria
Meeting all the eligibility terms can also help you get competitive personal loan interest rates. The eligibility criteria for the Bajaj Finserv Instant loan for Salaried applicants is simple and easy to meet:
- Age between 27–67 years
- CIBIL score of 750 or higher
- Employment with a private/public organisation or an MNC
- Based on your city of residence, your starting salary should be Rs. 22,000 or more
- You should be of Indian nationality
Leverage seasonal deals this summer
You may get personal loan offers via SMS, email, or the Bajaj Finserv App. They contain attractive deals during various seasons and may get you better personal loan interest rates on an online personal loan. These offers are often limited and available for a short time so keep an eye out for them.
You can get the most affordable personal loan interest rates this summer with these tips. To get started, apply for the Instant Loan for Salaried Employees online by filling out the simple application form and get up to Rs. 25 lakh. With 5 years to repay the loan, you can do so stress-free and enjoy 0 charges on part-prepayment. To get the loan amount in your bank account just 24 hours* from approval, apply online now or check your pre-approved offer.
*Terms and conditions apply
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