RupeeRedee Personal Loan Eligibility

In actual practice, meeting the personal loan eligibility criteria by itself does not guarantee approval for a personal loan. You can follow the tips mentioned below to improve your chances of approval for a RupeeRedee personal loan:

• Maintain a clean Credit History: Having a clean credit history with no defaults and no/as few as possible late payments for prior loan EMIs and credit card dues will help you maintain a high credit score. This can improve your chances of being eligible for a new loan.
• Keep Credit Utilization Low: If you do not use a large proportion of the total credit available to you, you will be judged as fiscally prudent and increase your chances of loan application approval due to being considered as a low risk borrower by potential lenders.
• Minimise Existing Debt: If you have low level of debt, your repayment capacity will be judged to be higher. This can improved your chances of being approved for additional loans in the future.
• Avoid Multiple Loan Applications: When you submit multiple loan applications within a short time, these show up on your credit report. This will portray you as a credit hungry borrower who is at a higher risk of defaulting. By avoiding this, you will improve your chances of being approved for a new loan.