The following are the 7 factors other than CIBIL score than CIBIL that may impact your loan approval and eligibility in India:
1. Income
Financial institutions will consider your income when evaluating your loan application. They will look at your salary, income from other sources, and your overall earning potential to determine your ability to repay the loan.
2. Employment status
Financial institutions will also consider your employment status when evaluating your loan application. They will look at factors such as your job stability, tenure in your current job, and your employment history.
3. Age
Your age may also be considered when evaluating your loan application. Financial institutions may have different age requirements for different loan products, and some may prefer applicants who are older and have more established credit histories.
4. Residence
Your place of residence may also be considered when evaluating your loan application. Financial institutions may prefer applicants who live in areas with lower rates of default or who have lived in the same place for a longer period of time.
5. Credit Score
Your credit score is a major factor that will be considered when evaluating your loan application. A high credit score can indicate that you are a responsible borrower, while a low credit score can indicate that you are a higher risk borrower.
6. Collateral
Some loan products require collateral, such as a property, to secure the loan. The value and condition of the collateral will be considered when evaluating your loan application.
7. Debt-to-Income Ratio
Your debt-to-income ratio, which is the ratio of your total monthly debt payments to your total monthly income, will also be considered when evaluating your loan application.
Where to get Low CIBIL Score Loan
Omozing
Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at www.Omozing.com . We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.
Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 25,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months. CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)
5 Reasons to choose Omozing
1. Loans from INR 10k to INR 25 lakhs
Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 25,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months. CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)
2. Cutomised Tailor Options
- Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
- You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
- Flexible repayment options from 3 months to 3 years depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.
3. Lower CIBIL
While most lenders require borrowers to have a CIBIL score of over 750, at Omozing.com provide loans even with 600. Besides the CIBIL score, we also considers your age, employment status, and net monthly income.
4. Ways to apply
You can apply for a personal loan through us by 2 ways:
1. You can download our Mobile Application from Google app store.
2. Apply on portal using out Personal Loan link
5. Prompt Loan Disbursal
An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account. Money in Bank account in 24 hours post Loan approval.
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