Get your Personal Loan Approved with a Low CIBIL Score

"Explore tips and tricks for securing an online personal loan for low CIBIL score. Get insights on getting your loan approved with ease."

5 mins read

Published: 8 December 2022

Updated: 2 May 2024

The Significance of CIBIL Score

Is a Personal loan for a low CIBIL Score available? Can anyone get an instant personal loan for a low CIBIL score? The answer to these questions is definitely YES. CIBIL Score determines the credit history of the person, it is a three-digit numeric number issued by Experian, Equifax, Highmax, and CIBIL in India. A credit score of more than 700 is considered ideal and makes a person eligible for a loan or financing a needful. Maintaining a CIBIL is a cakewalk for a person if they know the tactics to boost their credit score. But the same could be a strenuous task if a person is unaware of the credit score or has started financing things or taking loans recently. It is preferable to know about the do's and don'ts of CIBIL score if you have just stepped into the domain of finance.


A personal loan is a type of unsecured loan that does not require any collateral for approval. It is a signature loan that can be approved using identification proof and financial details. If a person is low on money, a personal loan can be an option that can solve many private problems and it can even help the person to grow in life without worrying much about money. Personal loan for low CIBIL is available but the NBFCs that are offering personal loan for low CIBIL score offers financial aid with a high-interest rate. The point to ponder here is that a person with high CIBIL has more chances of approval for the loan as compared to a person with low CIBIL. Therefore it is recommended to check the CIBIL Score prior to applying for the loan.


CIBIL is a vital considerable factor if you are thinking of applying for a loan. But one should not be disheartened by the low CIBIL score. Follow the tips mentioned below for the approval of a personal loan with a low CIBIL score.

Tips and Tricks to approve your personal loan with a low CIBIL Score

Proof of Income

Show proof of stable income to banks, NBFCs, or any other financial institution to prove that you can pay the EMIs regularly without delaying it. A secure job with income flow is a plus point for money lenders and it can make the process of loan approval hassle-free. The salary slip of the company or ITR for the self-employed could be used as proof of Income.

L&T Finance which is the renowned NBFC is offering online Personal Loan for low CIBIL scores without income proof. Apply for the L&T Finance Personal Loan and get your personal loan approved without any income proof at the interest rate starting from 11% P.A.


Apply for a low-amount of personal loan

From the point of view of a lender, a high loan amount with a low CIBIL has more possibility of defaulting on loan repayment. Hence, opting for the low loan amount can boost your CIBIL and also have a high chance of approval for the personal loan.

You can easily apply for a low-amount personal loan from NBFCs like Faircent, Credifyn, etc., and maintain your CIBIL Score easily. These lenders are providing personal loans for low CIBIL Scores online to the people. You can easily maintain your CIBIL score by availing a personal loan from these NBFCs.


A guarantor or a joint account can solve your problem

A person willing to get a personal loan with a low CIBIL score can add a guarantor or join his account with a person with a good credit score. It shall boost his or her chances of getting a personal loan. Get the formalities of KYC done with the permission of your guarantor.

A guarantor can also help you to get a personal loan with a high loan amount. Also, it is a good way to get a personal loan for a low CIBIL score at your convenience.


NA or NH Case

The period of inactivity in the credit score is referred to as the NA or NH. It is always considered to have a one-to-one talk with the concerned bank or NBFC and explain the reason for inactivity. It is possible that the personal loan with a high interest rate shall be approved without any worries.


Extra tip: Get the credit report updated and error-free

There are many cases where the credit history of a person is inappropriate. Hence, it is preferable to get an updated and error-free credit report from the concerned authorities.


CIBIL is a considerable factor while applying for and disbursal of loans. It is always good to maintain a CIBIL score above 700 to get a loan or finance hassle-free. Break the myths that high CIBIL is the only possible way to get your personal loan. Consider the tips and tricks mentioned above for applying personal loan hassle-free and getting it approved without worries. If you need emergency financial assistance you can get a personal loan for a low CIBIL Score from NBFCs like L&T Finance, Credifyn, Faircent, etc. These lenders provide online personal loans and they can help you to get the personal loan approved hassle-free through the digital platform. Here are many top fintech companies in India but My Mudra is the one that deals with loans. So, this is your one-stop solution where you can get a personal loan with a low CIBIL score.


Also read: 7 Tips to Avail a Personal Loan at a Lower Interest Rate

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