4 Ways To Get Personal Loan Without Hurting Your Credit Score

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When you apply for a personal loan, the first step that all the lenders follow is to check the applicant’s credit score. It is an important parameter based on which the decision is taken. Therefore, it is always advisable that one must have a good credit score and credit history for smooth processing of the application.

Various ways can help you get a low-salary personal loan without impacting your credit score. Here are some of the ways to get a personal loan without hurting the credit score.

4 Ways To Get Personal Loan without hurting your Credit Score:

  • Avoid applying through multiple lenders: The digital era has to expand the financial market, and various lenders are offering personal loans to individuals. While they promise to offer lower rates, the final interest rate will depend on your salary, age, and credit score. There are also various DSAs or Direct Sales Agents that send your profile to multiple lenders.The lenders to check the creditworthiness of the borrower, check their credit score. The more times your score is reviewed, it symbolizes credit-hungry behavior. So, avoid approaching multiple lenders.

  • Know about the loan details: Before approaching any lender, make sure to check their loan details like eligibility criteria, loan amount, interest rate, and other offers. This will help ensure that you meet the criteria and help in choosing the right lender offering the best loan terms.

  • Look for pre-approved offers: Based on your credit score, various financial institutions offer pre-offered personal loans to individuals. Before you apply for a personal loan, make sure to check for any pre-approved offers. These will not ensure that you get the loan but will make the loan application process more straightforward.
  • Have a good salary: One of the critical factors that impact your loan is salary. A borrower with a good salary has better chances of repaying the loan amount. Therefore, the loan application process is easy. A low-salary personal loan is difficult to sanction. Not many people are aware, but your company’s profile and name also impact the borrower’s loan application.

Before you apply for the loan, taking care of the above factors will help you get the personal loan sanctioned without much hustle. It is essential to have a good credit score before your loan. It is also necessary to have a good credit score after the loan application has been approved. Furthermore, it will help you in getting future credits.

How to maintain a good credit score:

  1. Pay your EMI on time: During loan approval, based on your loan amount, interest rate and repayment tenure, the EMI is calculated. You can use the EMI calculator to know your monthly EMI. To ensure that you have a good credit score, make sure you pay the EMI on time.

  2. Credit card payment: Apart from the personal loan, if you also have a credit card, make sure you are repaying the due amount on time to maintain a good credit score.

  3. Keep checking your credit history: A slight mistake here and there can adversely impact your credit score. Ensure that you are checking your credit history from time to time to ensure that all the entries are correct.

  4. Credit limit: Overusing or exhausting your credit limit is also a negative sign. The higher your credit card balance to your credit limit, the worse your credit score will be.

These are some tips that one must remember to ensure that they are not facing any credit issues in the future. While these habits may not seem important in the short run, in the long run, they impact your credit score. It also increases your chances of borrowing money at the time of need. A low-salary personal loan can also be sanctioned with a good credit score. 


A personal loan is an unsecured loan option, which does not require any collateral from the borrower. Therefore, credit score plays a significant role in establishing the creditworthiness of the borrower. Keeping a high credit score is beneficial when needed to get a 50000 personal loan or more.

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