1. Be honest and truthful when applying for a personal loan.

  2. List all your debts and monthly expenses in the application form.

  3. Provide copies of your salary slips for the last 3 months and any other documents that might help in proving your income to the lender.

  4. Shop around when applying for a personal loan to get the best deal available on interest rates, fees, and terms of repayment period.

  5. Know the current interest rates and what they apply to.

  6. Have bank accounts in good standing, preferably with high balances and low balances.

  7. Have good credit scores.

  8. Be in general good financial health, with no recent bankruptcy or other major problem with your credit score.

  9. Consider the terms of the loan, such as when it must be repaid and if there are any penalties for late payments.

  10. Do make sure to have your bank account information & SSN, Drivers licenses, W2 form handy

  11. Do make sure to provide your address, cell phone number, and email address to the lender if needed.

  12. Do have a steady income and a good credit history


  1. Apply for a personal loan when you're unemployed, or when you're not earning enough to cover your monthly bills or debt repayments on time every month - this will lead to defaulting on your credit score which will make it more difficult to secure another personal loan in future. It may also affect any other loans

  2. Do not apply for loans from companies you do not know well or trust. If you have been scammed before by applying for these “loans” then don't be fooled again

  3. Don't have a high debt from other loans.

  4. Don’t have a very low credit score.