Loan without Cibil Score 2024: Check Awareness, Application Process and Interest Rates

Loan without Cibil Score 2024: When you apply for a personal loan, the lender, whether it’s a bank or NBFC, takes into account various factors to determine if you are eligible. Your credit score is like the VIP pass to financial success, so don’t mess it up! Most banks and NBFCs obtain your credit score and report from CIBIL, which is India’s oldest credit bureau. Generally, individuals with a credit score of 750 or above are preferred by lenders and have a higher chance of getting their loan application approved.

However, if your credit score is poor or low, most major banks and NBFCs will consider you a “risky” applicant and are likely to reject your personal loan application. Although a low credit score significantly reduces the probability of being approved for a personal loan, there is still a slight chance of obtaining one. For example, if your CIBIL score is below 600, such as 550, the chances of getting a personal loan are very low. However, if your CIBIL score is around 650 or 700, some select lenders, mostly NBFCs, may still consider you for a personal loan offer.

Go for a Loan without Cibil Score 2024, Are you aware of this?

  • Instant loans are a lifeline for those facing urgent financial requirements.
  • Whether it’s an unexpected medical emergency or any other unforeseen expense, people often find themselves in need of immediate cash.
  • However, traditional bank loans can be a hassle, involving lengthy procedures and documentation. This is where instant loan apps come to the rescue. T
  • These apps provide a convenient solution, allowing individuals to obtain loans without the need for salary slips or extensive paperwork.
  • Now, let’s delve into the features, benefits, and highlights of the top 10 instant loan apps in India that cater to this specific requirement.

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What is the process to apply for a Loan with 0 Cibil Score 2024?

To apply for a 50,000 personal loan with a low CIBIL score, you can follow these steps if you meet the eligibility criteria and have the necessary documentation.

  • First, download and install the appropriate personal loan app or visit the website.
  • Next, register using your mobile nu
  • ber and email address.
  • Then, provide essential details such as your personal, professional, employment, and financial information.
  • After that, scan and upload the required documents.
  • Once the verification process is complete, you will receive approval along with a loan offer.
  • Finally, accept the loan offer to begin the disbursal process.

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Top & best instant loan apps of India 2024

Looking for the ultimate loan app in India but tired of sifting through endless descriptions? Look no further! We’ve done the hard work for you and gathered a comprehensive list of the top online loan apps in India. Discover the interest rates, loan amounts, and tenures offered by these incredible apps. Get ready to explore the highest-rated instant loan apps of 2024!

Sl. no. Loan AppInterest RateLoan AmountRepayment TenurePlay Store Rating
1Moneyview1.33% p.m. onwardsRs.5,000 – Rs.10 Lakh 6 – 60 months4.7/5
2MoneyTap1.08% p.m. onwardsUp to Rs.5 Lakh3 – 36 months4.1/5
3KreditBee15% – 29.95% p.a. Rs.1,000 – Rs.4 Lakh3 – 24 months4.6/5
4PaySense1.4% – 2.3% p.m.Rs.5,000 – Rs.5 Lakh3 – 60 months3.6/5
5CASHe2.50% p.m. onwardsRs.1,000 – Rs.4 Lakh3 – 18 months3.7/5
6Nira Finance2% p.m. onwardsUp to Rs.1 LakhUp to 12 months4.3/5
7Navi9.9% p.a. onwardsUp to Rs.20 LakhUp to 72 months4.1/5
8Fibe14% p.a. onwardsRs.5,000 – Rs.5 LakhUp to 24 months4.4/5
9LoanTap11% – 24% p.a.Rs.50,000 – Rs.10 Lakh6 – 60 months3.6/5
10mPokketUp to 4%Rs.500 – Rs.30,000Up to 3 months4.4/5
11Bajaj Finserv10.49% p.a. onwardsUp to Rs.40 Lakh12 – 72 months4.6/5
12IDFC First Bank10.49% p.a. onwardsRs.20,000 to Rs.40 Lakh12 – 60 months4.4/5
13ZestMoney14% onwardsUp to Rs.5 Lakh3 – 36 months3.9/5
14LoanTap18% – 30% p.a.Rs.25,000 to Rs.10 Lakh 3 – 60 months3.6/5
15Home Credit2% p.m. onwardsUp to Rs.5 Lakh12 – 48 months4.5/5
16SmartCoin20% p.a. onwardsRs.1,000 – Rs.70,00091 – 270 days4.3/5
17Credy1% – 1.5% of loan amount p.m.Up to Rs.1 Lakh3 – 12 months4.1/5
18FlexSalary18% – 54% p.a.Up to Rs.2 Lakh10 – 36 months3.0/5
19Payme India18% – 42% p.a.Up to Rs.5 LakhUp to 36 months3.7/5
20StashFin11.99% – 59.99% p.a.Rs.1,000 – Rs.5 Lakh3 – 36 months3.9/5
21Dhani13.99% p.a. onwardsRs.1,000 – Rs.15 Lakh2 – 24 months3.4/5
22IndiaLends10.75% onwardsUp to Rs.50 Lakh12 – 60 months4.0/5
23Buddy Loan11.99% p.a. onwardsRs.10,000 – Rs.15 Lakh12 – 60 months4.4/5
24RupeeLend0.1% – 1% per dayRs.10,000 – Rs.1 Lakh61 – 90 days3.3/5
25Upwards18% – 32% p.a.Up to Rs.5 Lakh6 – 24 months3.3/5

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