Get your Personal Loan Approved in No Time - Cashiya

by Cashiya Finance Finance & Loans | India

With digital processing and instant approvals, a personal loan today is one of the easiest and most convenient ways to fix your immediate financial concerns. Usually a personal loan is sought when the need of money is urgent, like in cases of medical emergencies, home renovations, impromptu trips, weddings etc. To ensure your personal loan is approved in quick time, here are 5 simple tips to follow:

Know your Credit Score

Credit score is based on your credit history. It plays very important role in ensuring that you get approved for a personal loan. A high credit score i.e. one which is closer to 900 implies that you have excellent chances of being approved for a loan while a score closer to 300 implies that your chances of approval are low. Cashiya enables you to see the chance of approval against each loan option, according to your credit score. Cashiya.in allows you to apply for a loan from a bank where the chances of approval of your loan application is high.

Consider the Loan Amount

Applying for a high loan amount often leads to rejection of your application. Banks don't lend to individuals who are already paying multiple EMIs. It is therefore advised to use a loan eligibility calculator from cashiya to find loan amount for which you will be eligible. In few cases, there is possibility of getting a higher loan amount.

But it’s good to apply only for the amount that you actually need.

Compare & Choose the best option

Most applicants only use interest rate as the main criterion for applying a personal loan. Instead of having various other options such as loan tenure, maximum loan amount, processing fees, pre-payment/foreclosure charges, etc.

One should consider all of these before applying a "Personal Loan". Cashiya.in compare various options available online based on all these parameters and let you know the best option available for you. This way you will choose the best option that is most suitable to you and enjoy maximum benefits.

Submit Correct & Relevant Documents

Personal Loans have the simplest documentation process requirements among various other loan options. Make sure you read through the documentation requirements carefully before you submit your application. Proper documentation will lead to quick disbursal of your loan amount. If you miss any of the documents your loan processing time will increase & your loan application may also get rejected.

Avoid simultaneous loan applications

Every personal loan application generates a credit report request from the prospective lender. If multiple loan queries are generated simultaneously, your report will show details of these requests within a short interval. Getting rejected for a loan is a sure shot way to tank your credit score and would decrease your chances of being approved for new credit in the future.

Cashiya's aim is to improve your chances of being approved for personal loans.