What Factors Determine Personal Loan Eligibility Criteria of a Person?
As you may know, personal loans are unsecured loans, meaning the bank doesnu2019t ask you to pledge any securities in order to avail it. What is mind boggling is that how can the bank trust you with such big loan amounts without asking any collateral against it. Well, banks are smart that way. They have various criteria checks in place before they disburse the loan to you. Any default in even of one of the factors can lead to loan rejection. Thus, it is important to understand the factors on which the eligibility criteria are based. Below mentioned are the factors that determine the personal loan eligibility criteria for all lending institutions:
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