100% Transparent Rates and Charges

Know the factors affecting your personal loan interest rate to secure the best and minimise your personal loan charges.

1. Credit score: Your loan rate heavily depends on your credit score. A credit score above 680 can help you qualify for low-interest personal loans, while a lower score can result in rejection or higher interest rates.
2. Continuous employment: Being employed continuously for at least a year in the same organisation leads the lender to believe that your employment status is stable, i.e., secure. Your personal loan rates will be more favourable in that case.
3. Minimum household income: The minimum household income should not be less than ₹3 lakhs. It includes the total yearly income of your spouse and unmarried children.
4. Debt-to-income ratio: A low debt-to-income ratio will yield better personal loan interest rates as it shows strong repayment capability and financial strength.
5. Credit history: A clean financial history with no previous default on loans or credit cards will assure the lender of your timely repayment capability. Nevertheless, in case of a poor financial history or low credit score, you can opt for a co-applicant with a solid financial profile to get a low-interest personal loan.