The specific CIBIL score required for loan eligibility varies among lenders, but generally, a score above 750 is considered good for obtaining favorable loan terms.
Borrowing a loan can have both positive and negative effects on your credit score, as it depends on factors such as timely repayment and overall management of your credit.
The specific documents required for borrowing a loan are proof of income, credit history, employment information, identification, and details about the purpose of the loan.
Loan services typically offer a variety of loan products to cater to different financial needs. Common types include personal loans, home loans or mortgages, auto loans, business loans, and student loans.
Loan repayment terms depend on the type of loan and the agreement between the borrower and lender. Repayment may be monthly, bi-monthly, or according to a different schedule. The terms also include the interest rate, which affects the total amount repaid.
