How can I get a personal loan of 300,000 in India if I am unemployed?
Interestingly, there are categories of being out of work - people who have recently left their job, freshers looking for a new job or people who have moved from business and looking for a job. In such cases, your personal loan application is assessed based on your past employment history, IT returns and credit score (history of past payments). If you have a credit score of 750 or more your chances of getting a personal loan may increase. It will be really helpful if you have some source of income like income from house rent to help you easily pay off the loan. Lets look at few options you can consider to avail a Personal Loan. You can borrow money from friends, relatives or acquaintances to help you pay off the Personal Loan. You can even take a joint loan with family member, say father, who has successfully paid off his previous loan (without missing any payment). Take a loan with co-applicant who has a regular source of income from a job or business. You can mortgage any land under your name to avail the loan. Check with your bank or NBFC sites to learn more about lending options.