Banks Tighten Lending Norms in 2026: Are NBFC Personal Loans Easier to Get?
Lending Standards have changed
Major banks have increased their lending standards. Approval processes are now slower, and documentation requirements are stricter for personal loans.
Credit Scores Matter More
Banks now require a CIBIL score of 750 or above for quick approvals. Getting a personal loan from traditional banks becomes challenging and time-consuming.