Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 How to get Personal Loan for CIBIL Defaulters

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    How to get Personal Loan for CIBIL Defaulters is Rated as "Great!" by 75920 Users

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    Personal Loan for CIBIL Defaulters

    The need for money can arise at any time, and the lack of it can be an impediment to our way of living. Finding resources to cater to financial requirements aren’t very hard these days, thanks to banks offering a plethora of loans. While the process of availing a loan has become easier, getting a loan isn’t a guarantee, for banks do a thorough check before signing that cheque. One resource which almost every banks relies on is the CIBIL score of an applicant, with a good score resulting in quicker approval while a bad score could see an application getting rejected.

    CIBIL Defaulter – the term and its misconception

    A lot of us come across the term CIBIL defaulter when we search for information on the internet, making us wonder about it. While it is common to come across loan defaulters (people who avail loans and are in no position to repay them), the fact is that there is NO SUCH TERM as a CIBIL defaulter. CIBIL only maintains the credit history of individuals, with no default list in place. Individuals who feel that they are on the CIBIL defaulters list can breathe a sigh of relief as there is no such list and banks do not rely on any such list when it comes to granting or denying a loan.

    The major concern one can have with their CIBIL report is restricted to errors in the report, which can be rectified by contacting CIBIL.

    Can CIBIL defaulters get a Personal loan?

    As mentioned above, the term CIBIL defaulter does not exist in the books of CIBIL and individuals should know that this has no bearing on their personal loan application. What can affect an application is the score, with it being hard for people to get a loan if their CIBIL score is on the lower side. So in order to truly understand the concept, we will need to rephrase the question, asking “Can individuals with a low CIBIL score get a loan?”

    The answer to this question is yes, people can get a personal loan even if they have a low CIBIL score or do not have a CIBIL score altogether.

    How can one get a personal loan with a low/no CIBIL score?

    While banks generally look at the CIBIL score of an applicant before sanctioning a loan, individuals who have a low CIBIL score or do not have a CIBIL score needn’t worry, for it is still possible for them to get a personal loan. Here are some tips one can use to ensure that the CIBIL score doesn’t come between them and their financial dreams.

    • Apply for a secured loan – Banks are hesitant to provide unsecured loans to people without a CIBIL history, but opting for a secured loan can increase the chances of it being approved. The security a borrower provides in exchange for the money is sufficient for banks to overlook the CIBIL aspect.
    • Apply for a loan through your family member – Individuals without a CIBIL score or a low score can ask their family members (spouse/parent) who has a decent score to apply for a loan. While the loan is on someone else’s name, the immediate requirement for finances can be met.
    • Provide salary details – Banks look for the repayment capacity of an individual before granting a loan, and if you have a high salary it could make loan repayment easier. In such cases, banks do not insist on the CIBIL score and you could get a loan without additional hassles.
    • Take high interest loans – A number of banks could overlook the CIBIL score (or the lack of it) by charging a higher interest rate on such loans. Availing these loans depends on other factors like repayment capacity, annual income, financial constraints, etc.
    • Borrow from companies – Unlike banks, companies do not have very strict guidelines when it comes to offering loans and individuals can get a personal loan from them without having to worry about their CIBIL score. Loans availed from companies come with higher interest rates and could require some sort of security.

    Getting a loan isn’t impossible in today’s world, but having misconceptions about certain terms like CIBIL defaulter can hold one back from living their dreams. Clarity, focus and some research can ensure that your financial requirements are met without hassle.

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  • How to get Personal Loan for CIBIL Defaulters Reviews

    • ICICI Bank Personal Loan
      "Its GOOD"
      0.5 3.0/5 "Satisfactory"
      I have cancelled ICICI personal loan because I was holding my salary account with Standard Chartered bank. Hence I thought to process the loan with existing bank to make process easier. Therefore I didn't avail the personal loan from ICICI but it is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bankbazaaar.com is really good one and am using it for the second time, also I took some insurance policies with them before. Online portal of the Bankbazaar.com is easy to access, also comparison can be done on immediate basis.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Standard Chartered Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Experience was good with the Standard chartered bank to get the personal loan. Service aspects are really good. The loan amount got disbursed to my account within a week of time. Services are really fine one for me but the branches are lesser one with them. Rate of interest was not at all the constraint, also I can say it was good one.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Overall good"
      0.5 4.0/5 "Great!"
      The overall experience was nice at Bankbazaar. I received a immediate response and the process was quick as well. I did not get the loan account number from the bank and I called this portal but at that point of time they could not help me with the bank contact. They need to have a proper tab on the aggregation and all the details of the banks should be made more transparent.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jun 22, 2017
    • Standard Chartered Bank Personal Loan
      "Be more clear in details"
      0.5 4.0/5 "Great!"
      The overall experience was good and quick. But there was a lacking of clarity as I did not know the loan account number for a long time and there was no point of contact as well. The rate of interest was of 11.99% with a zero processing fees. SCB needs to be more transparent in the personal loan details.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Financial advisor"
      0.5 4.0/5 "Great!"
      I got good response from Bank Bazaar, As soon as posted my loan request I got a response on the same day from them, to submit the documents to the bank. I came to know about Bank Bazaar through Google search. Everything fine, but would be great, if the provide proactive response to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Financial advisor"
      0.5 4.0/5 "Great!"
      I got good response from Bank Bazaar, As soon as posted my loan request I got a response on the same day from them, to submit the documents to the bank. I came to know about Bank Bazaar through Google search. Everything fine, but would be great if they provide service to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved."
      0.5 3.0/5 "Satisfactory"
      I am unhappy with ICICI banking service, without my intimation ICICI closed my personal loan application. I tried reaching the bank, but unable to contact them. I have submitted all of my documents to ICICI but no response. They should improve on the response part and they should provide a better service too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Provide follow ups"
      0.5 3.0/5 "Satisfactory"
      There was a initial response from Bankbazaar after I registered my details on the website. They contacted me and processed my information. The website is good and it is easy to navigate through the details. It would have been better if there were follow up calls were continuous and they co-ordinate more with the banks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • Capital First Personal Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      After me applying with Capital first for the personal loan. I got no response from them to inform me about the documentation process or to check on my requirement. So I could not proceed with them, later they cancelled my application. Not a good experience in all.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Hassle free experience"
      0.5 4.0/5 "Great!"
      HDFC done very fast personal loan process, within two to three days they have sanctioned the loan and they have fulfilled my requirement. I was looking for Rs.10 lakhs of loan amount, HDFC offered me the same for the tenure of five years and with the interest rate around 11% its good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "One stop solution"
      0.5 4.0/5 "Great!"
      Bank Bazaar is providing immediate action on customer's request, I could find various offers on the site. It make my job easier. I got very good response when I approached Bank Bazaar for the personal loan. Even I felt the user interface of Bank Bazaar is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Tata capital Personal Loan
      "Dissatisfed service"
      0.5 2.0/5 "Expected more"
      TATA Capital could not processed my loan, their customer service is good. I have requested the amount of Rs.10 lakhs but they ready to sanction amount of Rs.4 lakhs, I felt its not sufficient hence I asked them to close the application, but their interest rate is nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Axis Bank Personal Loan
      "Excellent deal on the ROI"
      0.5 4.0/5 "Great!"
      My personal loan is from Axis Bank and it was a smooth process for me. The documentation was on time and the disbursement as well. The interest rate is around 11.39% which is one of the best rates currently in the market. The processing charges was normal too. There is a part payment facility which can be used after a month.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I got a promotional mail and I have downloaded the bank bazaar mobile application. I have applied personal loan through the mobile application. I received a call within 5 minutes from the bank bazaar executives. The mobile application with bank bazaar is really easy to use and customer friendly. The service with bank bazaar has satisfied me.
      Was this review helpful? 0
      , guntur
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Reduce the processing fee"
      0.5 4.0/5 "Great!"
      I have closed the personal loan with the ICICI bank and the interest rate was around 13.45%. Customer service was really good, also they have cleared my doubts and confusion. Break up is clear with the ICICI bank and the processing charges were really huge.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The services at Bankbazaar was very much satisfactory. It was a quick response and I am happy with the website. It would have been better if there are more than one bank offered as I was given only one bank. If there are multiple banks I will have options to choose from.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executive gave a call and told that I need to have minimum salary of 25k, but I am getting only 20k that was reason I haven't proceed with ICICI personal loan. The rate of Interest is nominal when compared with others. The customer service and the response was average with ICICI bank.
      Was this review helpful? 0
      , guntur
      Reviewed on Jun 22, 2017
    • Standard Chartered Bank Personal Loan
      "High on ROI & charges"
      0.5 3.0/5 "Satisfactory"
      The response was on time from Standard Chartered Bank after I applied for a personal loan. The team informed me about the details and the process. I did not go ahead because they offered me a higher rate of interest and the other charges was high too. I was offered a rate of 12%.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar was top in the customer services as they were immediate to respond to my application. The website is good and it is created well so anybody can access it with ease. The details are very informative and there were a number of follow up calls too.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
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