A credit limit is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline.This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow or ability to repay the credit card debt and is an obligation of the consumer to pay just like all other parts of the balance. These factors are often summarized by institutions into a credit score which they use to determine credit eligibility.
Credit Line Loan Eligibility Criteria
FinCap seamlessly offers online Credit Line loans. From Credit Line loan instant approvals to quick disbursement, we’ve simplified finance for you.
No restrictions on usage of the loan amount: Unlike other loans, you are free to use the instant Credit Line loan amount for any of your urgent requirements.
No collateral requirement: If you are applying for an online Credit Line loan through FinCap, you don't need to pay or pledge security to get the best Credit Line loans online (unlike the conventional way of collateral or security deposit).
Flexible repayment: You are free to choose the duration of the online Consumer Durable loan, but the main product is an enhancement to the salary and can be availed for a month. You can repay your loan at your convenience. To calculate Consumer Durable loan interest rates, use our Consumer Durable loan EMI calculator.
