7 ways to get your personal loan approved faster

Personal loans are unsecured, so lenders decide almost entirely on your income, employer and credit history. These steps improve your chances.

1. Check your CIBIL score first. 720+ gets the best offers. Fix any errors in your report before applying.
2. Bring card usage down. Using less than 30% of your credit card limit looks better to lenders.
3. Don't apply everywhere. Each application creates an enquiry on your report; many in a short time lowers your score.
4. Apply where your company is listed. Lenders rate employers by category, and your rate depends on it.
5. Keep documents ready. Salary slips, bank statement and KYC that match each other avoid delays.
6. Choose a realistic amount. Total EMIs above about 50% of take-home pay are often declined.
7. Add a co-applicant if needed. An earning family member can strengthen a borderline application.

A MyFinanceCare advisor can check which lenders are most likely to approve your profile before you apply.