Instant Loan Without CIBIL Score 2024: Everyone needs money for a good lifestyle, but not every person can fulfill these needs from regular income sources. Thus, we use the loan option correctly, but your CIBIL score is important for whether you will get this loan or not. Because to get a loan through banks, your CIBIL score should be 750 or more. However, many people have a CIBIL score lower than this or no CIBIL score at all, commonly referred to as “zero CIBIL”. Do you also have such a problem? Still, you do not need to panic because even if your CIBIL score is zero, you can still get an Instant Loan Without a CIBIL Score of rs 50,000 without any CIBIL score. In this article “Instant Loan Without CIBIL Score 2024”, we are going to tell you about such banks and NBFCs that can provide you Instant Loan Without CIBIL Score even with zero CIBIL score.
Here we are providing you detailed information about Instant Loan Without CIBIL Score eligibility, required documents, interest rate, how to get a loan without a CIBIL score, and the application process to get an Instant Loan Without CIBIL Score. If you also want to get a loan up to five thousand without a CIBIL score, then please read our article till the end.
Instant Loan Without CIBIL Score 2024
Let us first know what ‘Zero CIBIL Score’ means. CIBIL report is a record of a person’s financial condition, which is shown by credit rating agencies through the CIBIL score, which measures one’s credit record between 300 to 900. Now, this CIBIL score cannot be less than 300, but the term ‘Zero CIBIL Score’ is used for those individuals who have not taken any loan till now through any bank, NBFC, or credit card.
Therefore, no credit history of such individuals is available with the credit rating agencies, and their CIBIL score is shown as NA/NH (No History). People generally express this simply by saying ‘zero CIBIL score’ or ‘no CIBIL score’. Simply put, this category includes first-time loan borrowers.
From where we will get the Instant Loan Without CIBIL Score?
If you are looking for an institution that provides 50 thousand loans without a CIBIL score, then your search can end here. For this, you should read our entire article. We have mentioned here the names of many banks and NBFCs that provide instant loan facilities to people like you with 0 CIBIL scores.
Checking the CIBIL score of the loan-taking customer is of utmost importance for any lender to know about your creditworthiness and decide whether you can pay the loan installments on time. Without a CIBIL score, the borrower can provide proof of his/her regular/permanent sources of income to ensure that he/she has sufficient income and can always pay all the Instant Loan Without CIBIL Score installments on time.
What is the eligibility to get an Instant Loan Without CIBIL Score?
To avail of the loan without a CIBIL score of Rs 50,000, it is necessary to fulfill the following eligibility criteria.
- The applicant must have Indian citizenship.
- For instant loans, the minimum age limit varies widely between lenders, although generally, the minimum age should be between 21 and 24 years.
- To get a loan without a CIBIL score, the applicant must have a permanent and regular source of income, i.e. he should be earning a fixed amount of money every month through job or employment. This income money should be deposited in the bank account regularly so that the applicant can display it as his income through a bank statement.
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Following documents, you need for the Personal Loan
If you are applying for a loan without cibil score, the following documents should be with you. A digital copy of these documents will be required, as the process of this loan (instant loan without credit score) is completely digital and online.
| Aadhar Card of the applicant. |
| PAN card. |
| Mobile number linked to Aadhaar. |
| Salary slip (for employed), and Income Tax Return (ITR) for employed applicants. |
| Bank statement of last 6 months to one year. |
| Bank account details for loan amount disbursement. |
| Bank account linked to net banking or debit card to activate EMI auto-debit facility. |
| Selfie of the applicant in the loan application. |
Instant loan companies
If your civil score is zero, there is no hurdle. You can still get a loan of fifty thousand rupees without a cibil score. For this, you have to apply to one of the lenders given in the table below. All these people provide loans to the customers without cibil score. You must have the minimum income source prescribed by them for this. Information about the interest rates of ‘instant loan without CIBIL score’ is also available in the same table
| Bank / NBFC name | Interest rate (ROI) | Minimum monthly salaries |
| IDFC First Bank (75 thousand) | At an annual rate ranging from 10.75% to 23% | |
| HBD Financial Service (1.5 lakh) | Annual rate up to 36 percent | Metro City- 20 thousand Non-Metro City – 15 thousand |
| Finnable | Annual rate up to 28 percent | 15 thousand |
| Moneyview | Starting at monthly rate of 1.33 percent | 13500 |
| Buddy Loan | Starting at an annual rate of 11.99% | 15 thousand |
| Tata capital | Annual rate ranging from 10.99% to 35% | 15 thousand |
| DBS bank | Annual rate ranging from 10.99% to 34% | 25 thousand |
| Fibe | Starting at 2% monthly rate | Metro City- 18 thousand Non-Metro City – 15 thousand |
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How to apply for the Instant Loan Without CIBIL Score?
Download the mobile application of whichever lender you want to avail a loan from as per your needs. Next, log in to the application using your mobile number and complete the KYC process using Aadhaar and PAN card. You check the loan offer information and upload all the required documents to apply for the Instant Loan Without CIBIL Score. Follow the instructions provided in the app to complete your application process.