Can I get a personal loan with a CIBIL score of 700?
Accepted Answer ✓ Accepted
Yes, a CIBIL score of 700 is considered 'good' and makes you eligible for personal loans from most banks and NBFCs, though not at the best rates. What to expect: Interest rates: 12-18% p.a. (compared to 10-12% for 750+ scores), Loan amount: Up to 20x monthly salary, Approval probability: 60-70%, Processing time: 2-4 days, Documentation: Standard requirements. Banks offering loans at 700 score: HDFC Bank, ICICI Bank, Axis Bank, SBI, Kotak Mahindra. NBFCs are even more lenient: Bajaj Finance, Tata Capital, Fullerton India. Tips to improve offer: Negotiate using multiple applications, add a co-borrower with higher score, maintain low debt-to-income ratio (<50%), show stable employment (2+ years). A 700 score is acceptable but improving to 750 within 6 months can save ₹50,000-1 lakh in interest on a ₹10 lakh loan.
Suggested Answers
Yes, a 700 credit score is good enough for most lenders. You'll get approved from major banks and NBFCs, though your interest rate will be slightly higher than those with 750+ scores. The approval process is standard and you should have decent loan amount options.
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