Loan with a Low Credit Score: कम है सिबिल स्कोर फिर भी पैसे की कोई टेंशन नहीं, यहां मिलेगा Instant लोन

Loan with a Low Credit Score: If you are looking to obtain a Loan with a Low Credit Score, this post will be helpful for you. In this article, we will discuss how to get an urgent loan even with a bad credit score. There are times in our lives when we need a significant amount of money, and this situation can be managed. While many people struggle to earn a large sum of money, some have succeeded in doing so. Here, we will provide you with brief information about obtaining a Loan with a Low Credit Score. With our assistance, you can easily get a loan of up to 10 lakh within a few minutes. Typically, availing a personal loan is a quick and easy process if you have a high CIBIL score. However, not every applicant has a CIBIL score. But that doesn’t mean it is impossible to get an instant loan without a CIBIL score.

When applying for a personal loan, NBFCs and lenders have specific Loan with a Low Credit Score eligibility criteria that need to be met. One of these criteria is having a high CIBIL score, which can make it challenging for certain applicants to avail an instant loan online.

How to get a Loan with a Low Credit Score?

Getting an instant loan without a CIBIL score and salary slip can be quite challenging since most lenders require a credit check. However, there are still several ways you can obtain a loan:

  • Apply with an NBFC: Unlike banks, NBFCs often have more flexible policies for individuals with a low CIBIL score. You can find various options for personal loans with low CIBIL scores from NBFCs online.
  • Provide proof of income: If you can provide evidence of your monthly income, lenders may be willing to offer you a personal loan even without a credit score or with a low CIBIL score.
  • Apply with a co-applicant: Adding a co-applicant with a good income and credit score can increase your chances of getting an instant loan without a credit check in India.
  • Apply for a smaller loan amount: Applying for a lower loan amount can improve your chances of approval, even with a low CIBIL score.
  • Apply with a lender affiliated with your employer: Consider applying for a personal loan with a low CIBIL score and without a salary slip through banks that have a tie-up with your employer. These banks may also offer loans without income proof since they already have access to your income details.
  • Improve your credit score: If you have time, focus on building and improving your credit score before applying for a loan.
  • Apply for secured loans: If you have assets such as property, gold, insurance policies, securities, or deposits, you can apply for a secured personal loan. Nowadays, there are online options available for secured loans without income proof.
  • Utilize online platforms: You can also search for online loan apps that offer loans without considering your credit score. These platforms may provide options for individuals with low or no credit scores.

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Best Loan App List 2024

There are several loan apps available in India that offer loans with low or zero CIBIL score. Here are some of them:

Loan App NameRate of InterestLoan Amount
Faircent12% to 28% p.a. Rs. 30,000 to Rs. 10 Lakhs 
PaySense1.4% to 2.3% per month Rs. 5,000 to Rs. 5 Lakhs 
InCred16% to 36% p.a.Up to Rs. 3 Lakhs
KreditBee 1.02% p.m. onwardsRs. 1,000 to Rs. 4 Lakhs
IIFL Finance12.75% to 33.75%Rs. 5,000 up to Rs. 5 Lakhs
CASHe2.50% per month onwardsRs. 1,000 to Rs. 4,00,000
Fibe (EarlySalary)Rs. 9 per day onwardsRs. 5,000 to Rs. 5 Lakhs 
L&T Finance13% p.a. onwardsRs. 50,000 to Rs. 7,00,000 
MoneyView1.33% per month onwardsRs. 5,000 to Rs. 5 Lakhs 
MoneyTap1.08% per month onwardsRs. 3,000 to Rs. 5 Lakhs 
Loanbaba0.1% per day onwardsRs. 5,000 to Rs. 2 Lakhs
Prefr18% to 36% p.a.Rs. 10,000 to Rs. 3,00,000 
Lenditt0.1% to 0.4% per dayRs.10,000 to Rs.50,000

Several factors can contribute to a lower CIBIL score loan 2024

  • Holding multiple unsecured loans.
  • Experiencing delays or defaults in loan payments.
  • Maintaining a high credit utilization ratio, exceeding 30% of the available credit limit.
  • Facing repeated rejections of loan applications within a short period.
  • Settling a debt with the bank by making a payment lower than the required amount and subsequently closing the loan account.
  • Having a limited variety of credit types.
  • Accumulating multiple hard credit inquiries.

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Advantages of having a loan with a Poor Credit Score 2024

  • One of the major benefits of this loan is that you can obtain it instantly, even if you have a bad credit score.
  • You can conveniently apply for this loan from the comfort of your own home, without the need to go anywhere.
  • You have the opportunity to borrow up to Rs 10 lakh and enjoy a repayment period of 60 months.
  • Another advantage is that you don’t have to put in much effort to secure this loan.
  • By opting for this loan, you can save both time and energy.
  • Rest assured, this loan is completely secure, eliminating any worries.
  • If you make timely repayments, your credit score will gradually improve.
  • This loan allows you to choose and obtain funds according to your convenience.
  • The ultimate advantage is that you can access this loan within a short period of time.

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