When applying for a personal loan, lenders look for various factors like your current income, your age, existing credit liabilities, nature of the job (e.g. salaried or self-employed) etc. One of these factors is your CIBIL Score. CIBIL score is the most sought-after credit score and thus keeping it high is a good practice if you’re serious about getting a personal loan.
What is the Minimum CIBIL Score Required for Personal Loan?
There is no fixed number that can be marked as a minimum CIBIL Score to get a personal loan approved. However, a CIBIL score of 750 or above is a good score and can open multiple loan options for you. Subsequently, a high credit score can also help you in getting a higher loan amount, that too at better interest rates and affordable tenure.