Loan for Low CIBIL | A Comprehensive Guide

1. 8/21/24, 6:30 PM Loan for Low CIBIL: A Comprehensive Guide | CSL Finance 1800-102-9925 Branch Locator Employee L NACH Cancellation Request EMI Calculator Home About Us Our People Products Investors CSR Initiative Employee Corner Resources Cont All Posts CSL Finance Ltd 1 hour ago 2 min read Loan for Low CIBIL: A Comprehensive Guide A personal loan is easy to borrow under various circumstances and eligibility criteria. You must have all these such as appropriate documents, income, credit score, and others like a residential certi?cate etc. These are the common factors that help you get the loan in a few minutes because you are eligible. Apart from that, you can face dif?culties with the lack of eligibility especially with the lower CIBIL score. So, other options can help you get the loanforlowCIBIL and for that, you must have to follow some steps and instructions.  Check the CIBIL and the range of your CIBIL The CIBIL score reveals your transactional history where your CIBIL score can reside in different ranges which is decided by the credit bureau after verifying your previous history. The range of CIBIL score starts from 300 and its maximum limit is 900. So, it is decided with a digit number and these are like 300-600 is poor a poor credit, 601-650 is Fair, 651-700 is treated as average, 701- 750 is considered as good credit, and ?nally 751-900 comes under the excellent credit score. So, while getting the loan you need to check in which range your credit score resides, and thereafter, you need to search the lenders. Search the lenders Whenever you have requirements for a loan and you know that your CIBIL score is low or in the average range, then search the lenders who provide the loan even after a lower credit score. These days various NBFCs provide loans based on your income, it doesn’t matter that your CIBIL score is low. So, if you ?nd any lender providing a loan for a low CIBIL score, apply easily with a lower score. No doubt, your income must be higher or satisfactory as per the lender’s policy. Apply against FD https://www.cslfinance.in/post/loan-for-low-cibil-a-comprehensive-guide 1/2

2. 8/21/24, 6:30 PM Loan for Low CIBIL: A Comprehensive Guide | CSL Finance In many cases, where you face the rejection of an unsecured loan, you can go for the loan against FD or other collateral which can also help you get the loan without CIBIL. In these cases, the lenders approve your loan without any veri?cation because while applying for the secured loan you already submit your basic documents. Therefore, you can get the approval easily. Apply based on your income In many cases, especially in the case of NBFC loans without a CIBIL score, you can apply with your income proof, because the lenders understand the concepts of the elevation of your credit score, where your repetitive borrowing increases your CIBIL score shortly. However, you must be ready with the repayment strategy because whenever you borrow you must be sure of how will you repay and ?nally, you will be able to close the loan. Considering these, NBFCs also provide loans without CIBIL score and you can get it easily.   Conclusion Although getting a personal loan with complete eligibility and a credit score is easy, one gets it even after having a lower credit score. Certain tricks can help you get the loan without CIBIL whether it’s low or nil, which means when you have no transactional history but already have income as a salaried person or self-employed. So, after considering your requirements, credit score and others, apply for a personal loan and get your disbursal easily.   Recent Posts See All Working Capital Loan: Get up to 5 Lakh Loan Small business loan: Documents, Eligibility Criteria Loan Against Property Without Income Proof 10 0 12 0 39 0 Our Services Useful Links Other Links CSL Finance Limited (formerly known as Consolidated Securities Limited) was incorporated on 28th December 1992. Wholesale Loan About Us Apply Now Our Team SME Loan EMI Calculator info@cslfinance.in Contact Us Terms and Conditions  IT Help Desk Portal Privacy Policy Branch Locations Refund and Cancellation Policy Link to SMART ODR Secured Assets Possessed  Under The SARFAESI Act, 2002 https://www.cslfinance.in/post/loan-for-low-cibil-a-comprehensive-guide 2/2