Vasant (name changed) is 26 years old and lives in Madivala, Bengaluru in his rented house. He had a requirement of ₹20,000 for credit line account. Personal loans are sometimes taken for emergency situations and in such cases, borrowers ask a quick disbursal! An online and hassle-free loan application process may come as a relief to the customers.
Vasant was in an urgent need of money but he was working in a relatively new company which is just 1 year old. Most banks and lenders prefer customers from large, established companies.
At Credy, we assess the applicant's profile carefully and look at many factors such as monthly income, employer quality, banking history, payment history of previous loans, cibil score, etc. Size of the company is just one of the many factors. Vasant had a good monthly income of ₹43,253 which allowed us to evaluate his loan application despite being employed at a small company. After careful evaluation of this and several factors, Vasant's loan was disbursed.
We are glad to have offered timely help to Vasant who is just one of our many happy customers.