The key to avail any loan is to ensure you follow the process & guidelines associated. In this article, we give you few pointers to ensure your loan application for LAP is hassle free & seamless.
High Credit Score
Maintaining a High Credit score indicates your capability to repay the loan on time. Having a good score avoids the time taken in the verification of documents.
Adding a Co-applicant
Adding a co-applicant with a regular income helps in the fast processing of your application. The co-applicant can be your spouse, friend or any family member.
High and Stable Income
Having a steady income helps in gaining lenders' trust when it comes to paying EMIs. High income increases your chance of getting a loan against property as fast as possible.
Relationship with the Lender
If you already have an account or any transaction-based relationship with the lender helps in obtaining trust. Since the lender already knows you as a customer it makes it easy to process the loan application for them.
Debt to Income Ratio
Debt to Income ratio is the total percentage of the borrower’s monthly income which is used for paying debts. Having a good debt to income ratio helps in availing the quick loan.
At SMFG India Credit, are known for our hassle free documentation, quick disbursal & transparent process, thus ensuring that the whole loan application & disbursal process is seamless & without difficulty. We also provide customized loan against property depending on your requirement.
You can take our personal loan for a variety of reasons.
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