Usually, when you apply for a loan, the lender looks at various details to check if you have the capability to repay. Banks will also try to analyse the percentage of risk involved in giving you a loan. The factors considered to assess repayment capability include salary, age and credit history.
When it comes to credit history, your credit card plays a huge role. If your credit history is good, you will be considered a ‘good risk’ and will be granted a loan. If your credit history is bad i.e utilizing a high amount or maximum credit limit can have serious consequences. It is wise to use only up-to 30% of the sanction limits and pay within the credit cycle. Under no circumstances should you max out your credit limits.
You can apply for an attractive offer with best possible rate of interest and terms for Personal, Business and Home Loan.