Low Cibil Score Loan by Phone: Personal loan is very important feature of the bank which is helping citizens to get instant loan to complete their instant needs in emergency cases. But banks provide to the personal loan only those customers who have a good CIBIL score. So if you are also facing regression of your loan application due to bad CIBIL score or low cibil score then you can apply for Low Cibil Score loan personal loan through mobile phone, Where you need not to visit any bank or branch what is the loan approval but can apply by using mobile applications only.
We are sharing with you eligibility criteria, list of the documents and application procedure for Low Cibil Score loan from mobile phone in this article. So if you are going to apply for a personal loan for facing rejection of the loan application continuously then you should check this article once.
Low Cibil Score Loan by Phone
Banks are the primary and secured source of personal loan product, but due to their bounded terms and conditions and vast eligibility criteria, most of the needed person cannot get success for loan application approval in the bank. There are multiple financial companies and third party mobile applications which are engaging new customers by providing them banking facilities with minimum eligibility criterias. These mobile applications are offering maximum 5 to 10 lakh rupees personal loan to their customers through mobile phone only over low cibil score. You can check list of the authorised mobile loan application companies in this article which are registered with RBI so you can get secured loan from these sources.
Features of Low Cibil Score loan
● If you have low CIBIL score then you can also apply for personal loan in mobile applications of financial companies. The good CIBIL score is considered more than 750 and the bad cibil score is considered less than 600.
● Mobile applications are providing instant personal loan to their customers within a few minutes.
● There are low eligibility criterias which can be fulfilled by anyone.
● You can apply for maximum 5 lakh to 10 lakh rupees according to your need and eligibility criteria in these mobile applications.
● Applicant will get flexibility to repay the loan amount within 60 months according to the loan amount which is they have asked.
● Companies are providing personal loan over low cibil score with high interest rates. Most of the financial companies are charging up to 36% interest rates from their customers which is very high. However if you apply for the loan in these companies regularly then company will reduce interest rates according to your condition.
● Other charges including processing fees, GST, palante amount ( if applicable) are also charged from the customer.
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Eligibility Criteria For Low Cibil Score loan
● The age of the applicant should be more than 21 years old and the maximum age of the applicant should be between 60 to 65 and the time of completing maturity of the loan.
● Only Indian citizens are invited by these companies for personal loans.
● You should have a smartphone with internet connectivity to apply for personal loan.
● The bank account of the applicant should be linked with Aadhar Card and PAN card.
● Application should have a proper source of income.
Important Documents for personal loan
● Aadhar card
● pan card
● Bank account details
● Mobile number
● Salary slip or bank statement
Apply online for Personal loan
Follow this procedure to apply for personal loan in mobile application over low cibil score:
● Open the Play Store mobile application and download anyone trusted mobile application which is providing personal loan. list will be provided at the end of this article
● Register yourself my providing mobile number and Aadhar Card details
● Now you have to complete the KYC
● Once you have completed the KYC you can select the loan section and select the loan amount which you want to get
● Now you have to prepare EMI per month according to your monthly income and after date on the submit link
● You will receive OTP for verification once you have submitted the OTP your application will successful submitted and you will get loan amount in your bank account within few minutes after getting approval
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List of loan applications which are providing personal loan over low cibil score
● Loan Baba loan
● Amazon pay later
● Dhani Van freedom card loan
● Indiabull personal loan
● Ring loan app
● Paytm personal loan You can also search other mobile applications for personal loan which are providing the loan amount according to your need with low interest rates. Facing an urgent financial need but troubled with a low CIBIL score? Don’t despair! Traditional banks often enforce strict credit score requirements, leaving many in a quandary. As a powerful tool for accessing quick financial support, irrespective of your CIBIL score.
Low Cibil Score Loan Apps
These mobile apps offer a revolutionary approach to personal loans, and reducting the need to physically visit a bank. They cater to busy schedules, allowing you to apply for loans from the comfort of your home, anytime, anywhere. Additionally, the application process is often faster than traditional methods, thanks to streamlined procedures and digital document verification. So if your cibil score is less than 600 and you are getting trouble while applying for personal loan then you can contact these mobile applications which are authorised by RBI.
Apply for Without Physical Documents
Finance companies are increasing the digital mode of application for loan and reducing the paperwork. Mobile loan apps embrace a paperless experience, allowing you to upload documents electronically. So you can take a photograph of your documents and upload it to the application from anywhere and get approval instantly.
Online Application Facilities
With mobile loan apps, you’re always in the loop. Customers can now only apply online but can also track the status of their application by using their mobile apps, You will also get update and notification from the mobile app regarding your loan application. Apart from this you can also get facilities to repay the loan amount by using their mobile applications without visiting to the branch.
Preparing the Documentation For Low Cibil Score loan
To expedite your application, gather the necessary documents beforehand. These typically
include:
● Identity proof: PAN card, Aadhaar card, etc.
● Address proof: Utility bills, rental agreements, etc.
● Income proof: Salary slips, bank statements, etc.
● Additional documents for self-employed individuals
● Proof of existing loans (if applicable)
Online Application Process:
The application process is often straightforward and user-friendly:
● Download and launch the chosen mobile loan app.
● After that, Sign up and create an account, provide basic information.
● Enter your desired loan amount and preferred repayment terms.
● Now review the pre-approved loan offer, ensuring it aligns with your needs.
● Upload the required documents electronically within the app.
● Once you have submitted all the details you can finally submit the application and
wait for the approval.
● Track your application status within the app and receive real-time updates.
● Upon approval, the loan amount will be directly deposited into your bank account.
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List of Mobile Apps For Low Cibil Score Personal loan
Several mobile loan apps provide the facility to individuals with low CIBIL scores. Some
popular options include:
● Loan Baba
● Amazon Pay Later
● Dhani Van Freedom Card Loan
● IndiaBull Personal Loan
● Ring Loan App
● Paytm Personal Loan
While convenient and accessible, mobile loans for low CIBIL scores often come with higher interest rates. Carefully review the terms and conditions before committing to any loan agreement. Mobile loan apps have revolutionised the way we access financial assistance. By leveraging their convenience, accessibility, and user-friendly features, even those with low CIBIL scores can gain access to much-needed financial support during emergencies. With careful planning and responsible financial management, you can overcome temporary obstacles and navigate towards financial stability.
