New Delhi, May 5 -- Securing a Rs.1 lakh personal loan in India hinges immensely on the strength of your credit profile and your present credit score. These are key indicators of your creditworthiness. Financial institutions and lending banks check this score to determine the risk associated with lending you credit.

According to Mr Rohith Reji, Co-founder, Neokred, "Lenders typically look for a credit score of 700 or above when approving a Rs.1 lakh personal loan. A higher score indicates good creditworthiness, increasing the chances of approval and better interest rates. Some lenders may consider lower scores with stricter terms."

In India individual borrowers apply for several different kinds of loans, such as, personal loans, home lo...