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03.05 - 04:23
Defaulted on a personal loan? You may have to face these consequences
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personal loan with a low credit score is by demonstrating your financial stability to the lender. If you've recently received a salary increase or have an additional income stream, the lender might evaluate your application favourably despite the low score.
Providing proof of a steady job and income can enhance the chances of loan approval, as it shows a greater capacity for repayment. However, you may be subject to a higher interest rate on the loan.
Read more on livemint.comAbout this in other media
CIBIL: How do personal loans affect your credit score? livemint.com /6 months ago
How to avoid high interest rates on personal loans? Here are 8 ways livemint.com /6 months ago
China may have to brace for a new wave of bond defaults, S&P says cnbc.com /6 months ago
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