If you are in need of a loan, it is advisable to get your Credit Information Report (CIR) and check your credit score. If your credit score is 750 or above and you have a healthy credit history, that is the best way to ensure a smooth approval process.

If you have a poor credit score, start work on improving it immediately before you apply for a loan. If you find any errors in your report, file a dispute with the credit bureau immediately and get it corrected.  It can take anywhere from 4 months to 12 months to become loan-eligible, depending upon the severity of your credit situation. Pay all your dues consistently.

Also, having a good banking relationship with your bank helps make the approval process easier.