Get Personal Loan for Low CIBIL Score from Bhumi Finance
With the inception of personal loans, life has become easy. Now, you don’t have to wait to pay the college fees of your kid, go on a vacation to Rome, or buy that fully-automatic washing machine. Sincere thanks to personal loans. While applying for a personal loan and getting it approved has become seamless with financial institutions such as Bhumi Finance, seeking a personal loan for low CIBIL score is still a daunting task. So, what should be done in order to get a personal loan with a low CIBIL score? One of the best personal loan companies - Bhumi Finance is happy to help. Scroll down and read till the end.
First things first, what is a CIBIL score?
CIBIL score, credit score, or simply credit rating is a number that represents a borrower’s creditworthiness. The number varies from 300 to 900, with higher credit scores representing lower risk. Credit score depends upon the data gathered by credit bureaus after considering many factors such as repayment history, utilization ratio, past due payments, etc. Banks, independent lenders, and financial institutions generally favor applicants with higher credit scores of 750 and above and issue low-interest personal loans to them. On the other hand, stringent eligibility conditions and higher interest rates are common for borrowers with CIBIL scores below 700. This is the reason why applicants with a low CIBIL score often get their personal loan applications rejected. So, what should be done? Which personal loan providers should you approach? Next section, please!
How to get a personal loan if you have a low CIBIL score?
While most banks, financial institutions, and independent lenders require borrowers to have a CIBIL score of over 750, at Bhumi Finance, we determined creditworthiness by taking into account other data points as well. Even with a CIBIL score as low as 600, you can avail of an instant personal loan from Bhumi Finance. But why should you choose Bhumi Finance as your personal instant loan partner? This is because we offer you the following perks:
Get the desired personal loan amount from Bhumi Finance.
The personal loan and mortgage will lose their purpose if you are extended a loan amount that is too less than what you had expected. If this is the case, then you are with the wrong loan provider. At Bhumi Finance, we extend a decent loan principal amount to the applicant so that their purpose of opting for a personal loan is satiated.
We charge you the lowest of low-interest rates.
A decent principal with a very high-interest rate can worsen things for you in the long run. It would be of no use if you have to borrow from some other source in order to pay the third or the fourth installment of the personal loan. Hence, to keep such a situation at bay, it is important to look into the interest rate that is being charged by the bank or the financial institution. Since 2015, Bhumi Finance is known to extend personal loans at lucrative interest rates.
We help you decide the right repayment tenure for you.
A personal loan that comes with a short repayment tenure often culminated in high EMIs. So, in order to make sure that the EMI being charged is an amount that you can afford, it is important to carefully discuss the repayment tenure with your bank or financial institution.
Best of all, we have flexible income parameters.
In almost all cases, income is considered an important parameter in order to finance personal loan for an applicant. Your income is an indicator of your ability to pay back the bank or the financial institution. In such times, an applicant who is younger or one who has got an income raise is preferred. This is because a younger applicant has more earning years as compared to an older one.
Do you wish to get a personal loan on a low CIBIL score? Well, we got you. Reach out to us at https://bhumifinance.com/ and seek approval in the next 24 hours.