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How much cibil score required for a personal loan in delhi

Roy (CA) (94 Points)

30 November 2016

I stay in Delhi locaton I have a 780 CIBIL Score and I want to take a Personal Loan of 5+ lacs. I have approxy 4 credit cards, 2 EMIs about 4k are running on 3 cards. I have always paid the full outstanding amount on time for these cards. I am a little confused now whether my CIBIL score is enough for gettting a personal loan in Delhi.

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5 Replies

janender aneja (ca) (42 Points)
Replied 30 November 2016

your cibil score is good and you can easily

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janender aneja (ca) (42 Points)
Replied 30 November 2016

get the loan .but mostly banks have maximum limit of rs. 5 lakh of personal loan for any purpose.

CA Neha Agrawal (CA) (830 Points)
Replied 30 November 2016

apart from cibil score your income and liability also determines what loan amount you will get. 780 score is good

Unnikrishnan B (Forex In Charge) (740 Points)
Replied 01 December 2016

In the case of persinal loans some public sector banks prefer that the salary ti be routed to their sb account.in the case of private banks tget are generally giving within 35 months .so your income shiuld be eligible fir tge loan amiunt .i wiuld say that do not go for personal loans as it fetch much more interest rate .even if new generation private banks quote their interest rate as 8 or 10% it the flat rate of interest

Kindly look into it

Mushtak Ahmad (6 Points)
Replied 06 June 2024

The minimum CIBIL score required for a personal loan in Delhi generally ranges from 650 to 750, though a higher score increases your chances of approval and may lead to better interest rates. Specifically for Kotak Mahindra Bank, they typically prefer a CIBIL score of 700 or above for personal loan applications.

Having a CIBIL score of 750 or higher can significantly enhance your loan eligibility and potentially allow you to negotiate better terms. If your score is below the preferred range, you might still secure a loan, but possibly at higher interest rates or with stricter terms.

It's crucial to maintain a good credit score by paying your dues on time, keeping credit utilization low, and having a balanced mix of credit. Regularly monitoring your CIBIL score and correcting any discrepancies can also help you stay loan-ready.

For specific requirements and personalized advice, contacting Kotak Mahindra Bank directly or visiting their official website is recommended.