Tips to get low-interest rate personal loans

A Personal loan is one of the most important financing options. You can avail of a personal loan to meet any of the financial requirements. Due to technological advancements, multiple lenders were offering personal loans. But still many were in doubt that how to choose the best loan offer? The answer to this is the lender offering you the lowest interest rates based on your credit profile is the best.

Read on to know some tips to get the low-interest rate personal loan offers:

Maintain a good credit score

To get a personal loan online at the best interest rate, the most important criterion is having a good credit score. Any score which is 750, or above is considered a good score. Your credit score is the only sign of your creditworthiness and assurance for the lender. If you maintain a high credit score, there are chances of getting an instant personal loan at a lower interest rate.

Make use of professional credentials

To get low-interest rate personal loans, you may also use professional credentials. If you are employed with a reputed company and earning a high salary, the chances are high of getting the best personal loan offers. If your employer has good connections with the lending institutions, it can also get you a loan at a better interest rate.

Avail of the seasonal offers

Online many lenders are sending emails and push notifications of seasonal loan offers. When you apply for a loan online, always consider such pre-approved offers. They will help you in getting quick loan approval. An online loan is 100% contactless and touchless.

Compare all offers

Comparison is easier when you are willing to get a personal loan online. There are many fintech organizations, offering you a platform to compare the loan offers of all the top banks and NBFCs to arrive at the best decision. You can also use an EMI calculator to check your eligibility for the offers before you make an application.

Bottom line

Online apply for a loan is a matter of few clicks at the IndiaLends platform. We provide our customers with financial products and services such as personal loans, lines of credit, credit cards, and gold loans. We connect borrowers with lenders to help them get the best deal possible.

We are currently working with 50 partners that include PSU, private sector banks, and NBFCs. Here the interest rate starts from 10.75 %, and the loan amount ranges from Rs 15000 to 50 Lacs.

Be it an unplanned medical condition or a big-ticket purchase, a personal loan can be your one-stop financing option.

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