CIBIL Score Affects Your Personal Loan Interest Rates


Ever wondered why your neighbor got a lower interest rate on their personal loan while you were quoted a higher one? Well, the secret lies in a three-digit number – your CIBIL score. Yes, it's that important. Let's uncover the impact of your CIBIL score on the interest rates of your personal loan.

Get Instant Money with a Personal Loan

Before we delve into CIBIL scores, let's remember what's great about personal loans: instant money without the fuss. At Muthoot FinCorp ONE, we pride ourselves on providing instant cash in just 30 minutes*. No lengthy procedures, easy EMI options, and zero paperwork. All you need is to be a pre-approved customer.

Three Easy Steps to Get a Personal Loan

We've simplified the process to make your life easier:

  • Confirm Your Personal Details

  • Complete Your Loan Application

  • Get the Money Deposited in Your Bank Account

It's a breeze! Your loan amount is just a few steps away from reaching your account.

Why Choose Muthoot FinCorp ONE?

Now, let's talk about why we stand out:

  • Hassle-free Process: Our seamless digital process is backed by top-notch customer care.

  • Easy Documentation: Say goodbye to complex paperwork; our process is straightforward.

  • Instant Disbursal: You need money fast? We've got you covered with disbursals in less than 30 minutes*.

  • Easy Repayments: Enjoy competitive interest rates with flexible EMI options.

Your CIBIL Score and Interest Rates

Now, let's get to the crux of the matter – your CIBIL score and how it affects your loan interest rates.

Your CIBIL score, is a numeric representation of your creditworthiness, significantly impacts the interest rate you are offered. Lenders use this score to evaluate your credit history, loan repayments, credit card bills, and other financial transactions. The higher your score, the lower the risk perceived by the lender, resulting in better interest rates.

Quick reminders on eligibility and loan amounts:

  • Eligibility: To apply for a personal loan, you need to be a pre-approved customer, a salaried individual earning over Rs. 20,000 monthly, and aged between 21 and 58 years.

  • Loan Amounts: Ranging from Rs. 25,000 to Rs. 2,00,000, choose an amount that suits your needs.

No Collateral Needed

Rest assured, our personal loans are unsecured, meaning no collateral is required. You can breathe easy knowing your assets are safe.

How Do I Apply?

If you are a pre-approved customer, keep an eye on your inbox. Once you receive the link from Muthoot Capital Services Limited via SMS or email, simply click on it to begin your application. It's a straightforward process to get the loan amount disbursed directly into your salary bank account.

Remember, your CIBIL score is crucial in determining your loan interest rates. So, keep those finances in check to secure the best deal on your personal loan with Muthoot FinCorp ONE.

About Muthoot FinCorp ONE

Muthoot FinCorp ONE is an all-in-one digital financial platform that makes getting an MSME & a Gold Loan, investing in Digital gold & NCDs, making payments & remittances, buying insurance & exchanging forex, simple and convenient.

As an SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy stretching back over 135 years, and the trust of more than 1 crore customers and is building a holistic financial ecosystem using the latest digital products for lending, investing, protection and payments.

Muthoot FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan Group (Muthoot Blue) by providing its customers with easily accessible services, replete with unmistakable quality. The Muthoot Pappachan Group is among India’s most reputed names in the financial services industry, with customers in diverse segments like Automotive industry, Financial Services, Hospitality, Alternate Energy, Real Estate, and Precious Metals.

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