Ways to Get Better Interest Rate on Personal Loan

A CIBIL score of 750 or above is your ticket to securing an instant personal loan at competitive rates in the future. A few ways to achieve this include avoiding approaching banks directly with loan and credit card application, regularly monitoring a co-signed loan to make sure payments are made on time and not taking credit exceeding your overall credit limit. It is important that your credit utilization ratio stays under 30%. Make sure to regularly check your credit information report to know that you are on track, as well as keep a fair proportion of both secured and unsecured loans in your portfolio. Loan default such as a missed or delayed payment should be avoided at all costs.

More and more Indians are starting to finance their goals by opting for personal loans. A whopping 96% of new loans taken in 2018, were personal loans, as per data from RBI.

The easy availability of such loans, the lack of collateral, and attractive interest rates are some of the major contributing factors to the rapidly growing popularity of personal loans. When you apply for a personal loan, it is fair to expect an interest rate anywhere from 9% to 20%, depending on the financial institution. But that’s not all. With certain carefully practised tips and tricks, you can easily lower your interest rates.

You can also apply for a personal loan, on Finserv MARKETS and avail attractive interest rates starting at 12.99% per year. So whether you want to live your travel dream, renovate your home or finance your son’s higher education, personal loans of upto ₹25 lakhs can be easily availed.

The application process is online, paperless and transparent, with no hidden charges. To apply for a personal loan, simply head to Finserv MARKETS, fill a form with your personal and employment details, specify the loan amount and repayment period and upload a few documents.Get your customizedpersonal loan approved in flat 3 minutes and credited to your account in 24 hours after that!

Personal Loan




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DollarBreeders is a personal finance blog dedicated to people who want to take control of their finances and secure their future. Here you will find personal stories to inspire you to make better and more informed financial decisions. We aim to help people understand personal finances better and meet the challenge of living comfortably within the budget.