5 Factors That Affect Your Personal Loan
#1 Applicant's Age
Lenders avoid lending to someone in their early twenties or
#2 Applicant's Monthly Income
• High-income individuals easily get a personal loan.
• When computing income, the lender considers the city and
organisation you work with.
• The higher your credit score, the better is your chance to get a
• So, avoid defaulting on loan EMIs.
#4 Debt to Income Ratio
Maintain a debt-to-income ratio of less than 50%.
#5 Employment Stability
• Work for a reputed company that pays you on time.
• Do not change jobs frequently.
Make sure you satisfy the above-mentioned criteria before
applying for a personal loan.
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