Personal loans have become one of the most dominating loans in the country. Applicants have several needs, and they opt for personal loans to fulfil those dreams. Despite being a lifeline, getting a personal loan depends on various factors. Factors like a good credit score, employment status, monthly income etc., influence the personal loan interest rates. 

To get a personal loan, it is essential to maintain a healthy credit score as it defines your creditworthiness. However, it is not highly unlikely to get a loan if you have a poor credit score. Below is the table that will help you interpret the probability of getting a personal loan. 

Credit Score	Chances of Getting Approved
Above 750	Extremely High
700-749	High
650-699	Possible
600-649	Low
Lower than 600	Extremely Low

The credit score ranges on a scale of 300-900. A credit score above 750 is highly likely to avail of the benefits of a personal loan with low-interest rates. Even if the chances of getting a loan is low, if the CIBIL score is lower than 600, it is never zero. 

It is possible to get a personal loan with a low credit score. You can use salary slips as evidence that you will be capable of repaying the loan amount you asked for. However, this method of gaining the lender’s faith might cost you high interest rates. Following the tips and checking for lenders with lower interest rates, improving your credit scores will help you score the best personal loan interest rates.

Must Read: 5 Simple Tips to improve your Eligibility to get a Personal Loan