No CIBIL, Low CIBIL, or Bad Cibil Score Loan 2024: If you are looking to obtain a No CIBIL, Low CIBIL, or Bad Cibil Score Loan, 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 No CIBIL, Low CIBIL, or Bad Cibil Score Loan. With our assistance, you can easily get a loan of up to 10 lakh within a few minutes. Typically, availing of 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 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 of an instant loan online.
How to get No CIBIL, Low CIBIL, or Bad Cibil Score Loan?
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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loan apps available in India 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 Name | Rate of Interest | Loan Amount |
| Faircent | 12% to 28% p.a. | Rs. 30,000 to Rs. 10 Lakhs |
| PaySense | 1.4% to 2.3% per month | Rs. 5,000 to Rs. 5 Lakhs |
| InCred | 16% to 36% p.a. | Up to Rs. 3 Lakhs |
| KreditBee | 1.02% p.m. onwards | Rs. 1,000 to Rs. 4 Lakhs |
| IIFL Finance | 12.75% to 33.75% | Rs. 5,000 up to Rs. 5 Lakhs |
| CASHe | 2.50% per month onwards | Rs. 1,000 to Rs. 4,00,000 |
| Fibe (EarlySalary) | Rs. 9 per day onwards | Rs. 5,000 to Rs. 5 Lakhs |
| L&T Finance | 13% p.a. onwards | Rs. 50,000 to Rs. 7,00,000 |
| MoneyView | 1.33% per month onwards | Rs. 5,000 to Rs. 5 Lakhs |
| MoneyTap | 1.08% per month onwards | Rs. 3,000 to Rs. 5 Lakhs |
| Loanbaba | 0.1% per day onwards | Rs. 5,000 to Rs. 2 Lakhs |
| Prefr | 18% to 36% p.a. | Rs. 10,000 to Rs. 3,00,000 |
| Lenditt | 0.1% to 0.4% per day | Rs.10,000 to Rs.50,000 |
Several factors can contribute to a lower CIBIL score
- 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
- One of the major benefits of this No CIBIL, Low CIBIL, or Bad Cibil Score 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 Loan 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.
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