Top Tips to Get Approved for a Personal Loan – 2025

Around 77% of people in India look towards Personal Loans to meet their growing financial requirements. One of the major causes is COVID that gave the economy a setback! But thanks to the lenders providing personal loans on favourable terms and interest rates people can fund their dreams. Not just dreams, personal loans help you to finance emergencies as well. But the approval won’t come that easy. You can improve your chances of approval for a personal loan by following some tips that are crucial for everyone to know in 2025. So let’s get started!

1. Improve your CIBIL Score

Lenders pay attention to your Credit Score or CIBIL Score before anything else. Try to maintain a credit score of more than 685 at all times. Ways of improving it are:

• Pay your total credit card dues on time.
• Make timely payments.
• Keep your credit utilization ratio under 30% at all costs.
• Check your credit report for errors and resolve them with the bureau.

2. Lower Your Monthly Debts

Existing debts are always a burden; so why not pay them off? We are saying this because your loan application might get rejected immediately if your monthly debts exceed 50% of your income. There is room for improvement which includes:

1. Paying off your existing loan(s).
2. Paying all your credit card bills

Note – Doing this might also improve your CIBIL Score.

3. Fulfill the Eligibility Criteria

The general eligibility requirements for availing a personal loan are:

1. You must be an Indian citizen.
2. Your age must be between 21 and 80.
3. You must be working with an MNC or in a public or private sector
4. A CIBIL Score of 685 or higher is generally required.
5. You must be drawing a minimum salary of Rs.25,001(this value might change according to the city you live in)

Note – The eligibility criteria might be different for different lenders.

4. Maintain Proper Documentation

Keep the following documents ready whenever you apply for a loan:

• KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID
• Employee ID card
• Salary slips of the last 3 months.
• Bank account statements of the previous 3 months.

Note – Frequent job switches might lead to rejection. So, job stability also becomes a major factor for loan approval.

If you are self-employed, some additional documents are needed like income tax returns, the previous year’s turnover, and proof of business.

5. Apply for the Right Loan Amount

To get your application approved, apply for the right loan amount. By right amount we mean, the amount you are eligible for; according to your income status, existing debts, and other factors.

Final Word

Let lenders be in your favour whenever you apply for a personal loan. For this, you must follow our top tips for 2025 to get your personal loan approved, and that too in a quick time. Also, choose the right lender by conducting your own market research. WeCredit is always there to help you with each and every query related to finance.