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How to Get a Pre-qualified Personal Loan Offer

clixcapitalwp September 18, 2020

What is a Personal Loan?

Everyone reaches at a point in their lives when resorting to lending for financial assistance becomes absolutely necessary. No matter how prepared you are in terms of savings, life can throw you off-guard at times.

A personal loan is an unsecured loan that can come in handy in a variety of situations. To start off on a basic note, a personal loan is when you borrow money from a lender and agree to repay the amount in regular, scheduled monthly instalments for a specified period.

The lumpsum amount is disbursed directly into the borrower’s bank account to be used as per their convenience.

Must Read:  Why Credit Score is Crucial, How to Improve it & Everything else

What is a Pre-qualified Personal Loan?

Sometimes, when you check your credit score online, the system displays pre-qualified personal loan offers for you to consider applying and availing. This happens when the details in your profile and your credit score matches with the lender’s personal loan eligibility criteria. A pre-qualified personal loan offer means you’ve excelled in terms of credit score and the lender perceives you as a low-risk borrower, hence the loan amount is offered.

If the pre-qualified personal loan offer interests you, you can proceed by accepting it and furnishing the repayment information. The system will process your information quickly and the loan amount is disbursed to your bank account in no time.

Wish to know if you’re eligible for a pre-qualified personal loan offer, tap here.

How Can I Get Pre-qualified Offer for a Personal Loan?

There is no magic trick to get pre-qualified offers on personal loan. There are some easy-to-adopt financial habits that make the job simpler. The best thing you can do to make yourself eligible for a pre-qualified personal loan offer is to take care of your credit score.

If your credit score ranges between 750-900, it is considered excellent by lenders and that instantly brings you a step closer to getting pre-qualified personal loan offer.

Pull your credit report on a regular basis and understand what’s there in it that needs your attention. Make your credit card payments and other bills on time and in full. Keep your credit utilization ratio low (up to 30% to maintain your credit score.)

Keep a healthy mix of debts, from fixed to revolving. All the points above help a great deal in boosting and maintaining your credit score and making you eligible for pre-qualified personal loan offers.

Steps to Get Pre-qualified Personal Loan Offer?

  • Check your credit score online.
  • Fill in your basic information to proceed (contact information & other details)
  • If eligible, you’ll be offered a pre-qualified personal loan
  • Accept and procced by furnishing repayment information
  • The loan amount is disbursed to your bank account in 15 minutes*

Why Should I Bother About Pre-Qualified Personal Loan Offers?

Now that you know the basic terminology, you might be asking yourself what’s all the fuss about pre-qualified personal loan offers and is it a good thing?

Well, there are a handful of important reasons to be eligible for a pre-qualified personal loan. One of the best benefits is that you get to know the options available to you. So, the next time when you’re actually up for applying a personal loan online, you can check from the available pre-qualified offers to make your choice.

Pre-qualified loan offers help you understand how the world of personal loans work and what your options are. You get empowered as a borrower when you’re offered multiple options to choose from – from the rate of interest, loan amount, lender, and the loan period. This leads to better, more informed decision making.

If I am Offered a Personal Loan Online, Can I Trust an Online Lender? Are They Safe?

Although most online money lenders are safe but it’s important to do a little research and background check of the lender you decide to go for. Usually, an NBFC tied to a credit bureau is considered safe and reliable.

There are obvious benefits of going with an online lender to avail a personal loan online because of the completely digital process of loan application. The entire process from applying, submitting documents, and receiving the loan amount is safe, digitized, easy, and gives you a real-time check of your loan application status.

The application process is simple and a pre-qualified personal loan offer takes even lesser time for loan approval.

We’re sure by this time you’re excited to know your eligibility for a pre-qualified personal loan offer, you can do it in a moment by tapping here.

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