Please wait while we set things up. This will take less than 60 seconds!
We are fetching your Credit Score
It'll take less than 60 seconds
Without a CIBIL score, it can be challenging to obtain an instant personal loan. But there are several options to consider. Taking into account variables like income and work stability, local credit unions or community-based lenders may have more relaxed requirements. You can increase your chances by putting up collateral or finding a trustworthy guarantor with a solid credit history. Online lending sites that focus on loans for borrowers with no or little credit history may also be an option, but keep in mind that they may have higher interest rates and more onerous repayment requirements. Be careful when borrowing money, and thoroughly read the stipulations.
When you apply for a personal loan, one of the factors they take into account before sanctioning your loan is your CIBIL score. Your CIBIL score must be 750 and above in order for your loan to be approved.
Despite a lower CIBIL score, the lender may approve your loan except that they may levy a higher rate of interest on your loan amount. We will have a look at some of the ways through which you can avail a personal loan despite having a low CIBIL score.
When do you need to avail a personal loan without CIBIL verification:
Hence, these are some of the points that you will have to keep in mind in order to avail a personal loan despite having a low or no CIBIL score.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.