Loan Approval Process - Minemi

Hi👋 ,

Your Ongoing Loans

Total no. of running loans :

Total outstanding amount :

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Unsecured Loan Balance :

₹0

Secured Loan Balance :

₹0

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You are in a BAD 😞 Shape

Great news! Your credit score is in good shape. Access a wide range of financial opportunities with competitive rates.

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Factors Banks Consider Apart From Credit Score

Factor - 1

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Income Stability

A Higher income could have increased your loan approval chances.

Factor - 2

good-scale

Debt-to-Income Ratio

Your debt-to-income ratio is healthy, supporting a strong loan eligibility.

Factor - 3

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Employment History

Your stable employment history enhances your financial credibility and supports loan approval.

Factor - 4

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Existing Liabilities

Your existing liabilities are manageable, supporting your ability to handle additional financial commitments.

Based on your above Credit Score

good-shape

You are in a BAD 😞 shape!

Financial Health Overview

You may qualify for a lower loan amount than requested. Consider reducing obligations or increasing income to enhance eligibility.

YOU ARE ELIGIBLE FOR....

Loan amount

Loan Tenure

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Interest Rate

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EMI

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Our recommendation regarding your loan approval

1. Loan Consolidation

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Combine high-interest unsecured loans into one.
Opt for lower-interest, longer-tenure loans.

2. Reduce Credit Card Utilization

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Pay down credit card balances to below 30%.
Focus on high-balance cards first.

3. Avoid New Credit Applications

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Refrain from applying for new loans or cards.
Each inquiry impacts approval chances.

4. Increase Income or Lower FOIR

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Explore ways to boost monthly income.
Cut unnecessary expenses to improve FOIR.

5. Consider Secured Loans

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Shift some unsecured debt to secured loans.
Secured loans often have lower interest rates

6. Maintain Timely Payments

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Keep all payments on time to reinforce good credit behavior.
Avoid late payments to support creditworthiness.