Asked by: Karlie Schneider | Last update: February 11, 2026 Score: 4.6/5
(36 votes)
To get a better idea of what you may want to tell your lender, below are some of the most common reasons to get a personal loan:
A Short-Term Unexpected Emergency Expense.
To Consolidate Debt.
A Large Purchase.
Home Repair and Renovation.
Covering Costs for Major Milestones and Goals.
Paying for School.
Buying Real Estate.
What's the best thing to say you need a loan for?
You can use a loan to pay for almost anything, but some purposes are better than others. Most people borrow money to consolidate debt. Bills, home improvement projects and major expenses are other popular reasons to get a loan.
What is the best excuse to get a loan?
Unexpected Expenses : Explain that you have encountered an unforeseen expense, such as medical bills, car repairs, or home maintenance.
Educational Costs
Job Loss or Reduced Income
Emergency Situations
Starting a Business
Repaying a Loan
Support for a Cause
What to say when asking for a loan?
When asking to borrow money, it's important to be respectful and clear. You could say something like, ``Hey (Name), I'm facing a financial challenge right now, and I was wondering if it's possible to borrow some money temporarily.I'll make sure to pay you back by (specific date).
How do I increase my chances of getting a loan?
How to boost your chances of being accepted for a loan
If you're considering borrowing money, you may be thinking about how you can improve your chances of getting accepted. ...
Review your credit report. ...
Calculate your affordability. ...
Fill out your loan application carefully. ...
Choose the right lender. ...
Keep things consistent.
3 Things the Banks look for when giving you a loan
21 related questions found
How can I increase my chances of getting a personal loan?
6 Tips to Improve Your Personal Loan Eligibility
Maintain a high credit score. Since Personal Loans are unsecured loans, lenders need to assess your credit repayment abilities. ...
Improve CIBIL score. ...
Increase your income. ...
Reduce debt-to-income ratio.
Which loan is easy to borrow?
Eazzy Loan is an easy loan to get, No guarantors, No forms, no branch visits. You receive the loan instantly on your phone, saving you valuable time. It offers a flexible repayment period of up to 24 months.
What is the best way to ask to borrow money?
Crafting a Polite Request For Money
Be transparent: Be open and honest about your financial situation and your need for money. ...
Be specific: Be clear about the amount of money you need and the repayment terms. ...
Show gratitude: Express your gratitude for the person's consideration of your request. ...
Follow-up: ...
Respectful:
How can I get approved for a loan?
Here are seven steps to guide you through the process.
Check your credit score.
Calculate how much you need to borrow.
Calculate an estimated monthly payment.
Get prequalified with multiple lenders.
Compare all loan terms.
Choose a lender and apply.
Review the offer and accept the loan.
What do you say when you want to borrow something?
Activity
Can you. ---- lend. borrow. me your pen please?
Can I. ---- lend. borrow. some money? ...
Could my sister borrow. ---- her one. one. of your nice scarves? ...
Yes, as long as she. ---- gets it back. gets back it. to me first thing tomorrow.
You can. ---- lend. my tools...
...but you have to. ---- get back them. get them back.
What not to say when getting a loan?
10 Things Not To Say To Your Mortgage Broker | Loan Approval
1) Anything untruthful.
2) What's the most I can borrow?
3) I forgot to pay that bill again.
4) Check out my new credit cards.
5) Which credit card ISN'T maxed out?
6) Changing jobs annually is my specialty.
What can hurt your chances of getting a loan?
Here are the TOP 6 things that consumers do regularly that hurts their chances of getting a home loan:
Not disclosing debts/commitments. ...
A poor Credit Score. ...
Living expenses that are too high. ...
Bad account conduct. ...
Focusing on getting the lowest rate. ...
Failure to understand the current environment.
What will get me denied for a loan?
Although there are various reasons for getting denied when applying for a personal loan, five of those reasons include a low credit score, low income, a high debt-to-income ratio (DTI), an unstable work history, or an inability to meet basic requirements.
What is the best excuse to borrow money?
Emergency home or car repairs. ...
Emergency vet expenses. ...
Life events. ...
Debt consolidation. ...
Medical bills.
Moving expenses.
Large essential purchases.
What loan is easier to get?
Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Before you apply for an emergency loan to obtain funds quickly, make sure you read the fine print so you know exactly what your costs will be.
What do you say a personal loan is for?
A personal loan is money you can borrow in a lump sum with a fixed payment to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Interest rates, monthly payments and repayment terms vary based on creditworthiness, income and other factors.
Which bank gives a loan easily?
HDFC Bank customers can get Personal Loans with minimal or no documentation. In fact, if they are pre- approved for a Personal Loan, they can easily apply for it.
What is a hardship loan?
Hardship personal loans are a type of personal loan intended to help borrowers overcome financial difficulties such as job loss, medical emergencies, or home repairs. Hardship personal loan programs are often offered by small banks and credit unions.
What is the best thing to say when asking for a loan?
The key is to get as specific as possible. For instance, if you need $700 for a car repair, tell your lender that the money is for that reason. You should also map out a repayment plan, like paying them back $70 a month for the next 10 months.
How can I borrow money and get it instantly?
Fastest ways to borrow money
Personal loan from an online lender. Compared to traditional lenders like banks or credit unions, online lenders boast convenience and speed given their fully online application and funding process. ...
Loan app. ...
Cash advance from a credit card. ...
Loan from family or friends. ...
Pawnshop loan.
How to ask for money without sounding desperate?
6 tips on how to ask someone for money they owe you
Be direct but gentle: Clearly state the reason for your conversation without beating around the bush. ...
Avoid being aggressive: Aggression or a harsh tone can strain your relationship. ...
Be flexible: Understand that the person might be facing financial difficulties.
What bank is easiest to get a loan from?
To help you get started, we've listed some easiest personal loans to get, broken down into six categories.
Best overall: SoFi.
Best for good credit borrowers: LightStream.
Best for bad or low credit borrowers: Upstart.
Best for low rates: Discover.
Best for low or no fees: PenFed.
Best for fast funding: U.S. Bank.
What is the lowest credit score to borrow?
To qualify for a personal loan, you generally need a minimum credit score of at least 580 — though certain lenders have even lower requirements than that. However, your chances of getting a low interest personal loan rate are much higher if you have good to excellent credit, typically a score of 740 and above.
Which is the best loan option?
List of Banks Offering Best Personal Loan in India
HDFC Bank. Max. Loan Amt. Up to ₹40L. Rate of Interest. ...
Max. Loan Amt. Up to ₹10L. Rate of Interest. 11.25% - 22% ...
Max. Loan Amt. Up to ₹35L. Rate of Interest. 10.99% - 16.9% ...
IDFC First Bank. Max. Loan Amt. Up to ₹10L. Rate of Interest. ...