Why should you choose to apply for a loan through a marketplace over direct application to lenders?

Why should you choose to apply for a loan through a marketplace over direct application to lenders?

When a prospective borrower searches for a personal loan online, there are multiple lenders suggested. The consumer is unable to easily decide on the best fit on various choices available. Marketplace has spotted an opportunity to help consumers in their decision-making and fulfilment process by comparing the requirement and eligibility of borrowers with lenders criteria. Marketplace improving customer experience using end to end online loan application and credit underwriting integration for instant in principle approval and fast disbursal by connecting directly with lenders with best offers in the market. Loan marketplace use credit bureaus reports, financial transactions, payment records, mobile data to understand online pawn shop in SD the customer’s intent and ability to repay which is helping banks to reduce delinquencies and improve on loan conversion. Many online lenders rely on technology marketplace to find potential millennial customers who searches to secure faster credit decisions and vastly improved customer experience without visiting bank branch. If you are facing a challenge to get loan. We can help you to consolidate debt, balance transfer and top up loan through our partnered banks NBFC. Get your queries resolved over Whatsapp 8588821292 #balancetransfer #debtconsolidation #topuploan #equifax #cibilscore #cibil #personalfinance #personalloan #personalloans Pavan Kumar Surendra Mohan

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When it comes to transferring money online from one account to another, most banks provide multiple options based on various factors and customer’s requirements. #DifferenceBetweenNEFT #IMPS #NEFT #RTGS_IMPS #TRGS

Jamil Akhtar

Are you applying for a loan for the first time? Do you know what type of loan you can get for the first time with no prior credit history? First time borrower or new to credit (NTC) customers do not have a record with credit bureaus, which makes it difficult for lenders to evaluate. Such borrowers will have CIBIL -1 (Minus one) score in CIBIL or any other credit bureau. However, CIBIL offers a CreditVision NTC Score ranges from 101-200, with higher values indicating lower credit risk and reduced probability of default by the borrower. There are possibilities for getting loans with no credit, and some of them are: 1) Apply for a personal loan with a minimum Rs. 50,000 with minimum 1 year tenure. If you repay the loan on time, it will help build a good, positive credit score. 2) Credit card- First time borrowers can apply for a secured credit card by depositing fixed deposit in their account to get a secured credit card. Use a credit card regularly with lower utilisation of credit limit which will help you build a credit score. However, if your monthly salary is above Rs.35,000 and working in a reputed company you can try for an unsecured credit card, you may be eligible for a small credit limit which can be increased over a period of time with a proven record of payment. 3) Bike loan: You apply for a bike / two wheeler loan, the lender will hypothecate the bike as collateral and you don’t have to provide any additional security. You should compare Interest rates offered by lenders who usually charge higher interest for NTC customers. You can also request a free credit report annually from CIBIL, Experian, Equifax and CRIF. Your employment history and employer category gives insight about income and employment stability to assess credibility to repay your loan on time. 4) You can also check with your bank where your salary gets credited. They keep track of your transactions offer pre approved loan or credit card based average balance maintained in your salary / saving account. #newtocredit #firsttimeborrower #ntc #cibil #cibilscore Pavan Kumar Surendra Mohan Arun Diaz Sanjay Budhwar Aasif Ahsan Khan Navin Pathak Sunil Narula

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