Bad Cibil Score Loan; बुरा/कम/ज़ीरो सिबिल सब पे मिल रहा ₹10 लाख का अर्जन्ट लोन, जल्दी से लेलो

Bad Cibil Score Loan: The lender rejected your loan application because of a Bad Cibil score. Don’t Worry! Here we are to help you. So many times, we witness traditional banks rejecting some loan applications because one doesn’t have a good cibil score. Such days are over now because NBFCs and other lenders registered with RBI and, following their guidelines, are issuing loans to such borrowers. So, if a bad cibil score is a hurdle to your loan application, then in this article, we have shared the details of lenders who may fulfil your financial needs.

Bad Cibil Score Loan 2024

It is industry practice that traditional banks and other private lenders offer loans with a good cibil score. Some of them do not stop here only; they require a cibil score of 750+, which is a steep climb for anyone. However, the emergence of NBFCs offers an alternative path. Some NBFCs offer loans up to ₹10 lakhs without traditional requirements like income proof, cibil score, salary slip, etc.

A good cibil score rightly implies trustworthiness and responsible financial behaviour. However, everyone deserves a second chance to improve their cibil history. After all, how can one improve it if no one gives them a chance? Recognising this, the NBFCs add more flexibility and accessibility, welcoming applicants with good and bad cibil scores.

Bad Cibil Score Loan; बुरा सिबिल/लो सिबिल/ज़ीरो सिबिल सब पे मिल रहा ₹10 लाख का अर्जन्ट लोन, जल्दी से लेलो
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No CIBIL, Low CIBIL Score Loan 2024

Loan AvailabilityNBFCs and some fintech companies offer loans to individuals with no or bad cibil scores.
Interest RatesInterest Rates are on the higher side as compared to traditional lenders.
Loan AmountsDue to the bad cibil history, the loan amount under this circumstance could not be offered higher than others.
Repayment TermsRepayment tenure is not as high as others.
Collateral RequirementsIt depends on the lender and their policy. Some may ask for it, and some may not.
Application ProcessEasy and Simple like others
Cibil Improvement OpportunityOne can improve its cibil history by repaying the loan EMI as scheduled.

Low CIBIL Score Instant Loan 2024: सिक्योरिटी की चिंता छोड़िए: फोन से ₹10 लाख लोन प्राप्त करें, बिना किसी जांच के

Canara Bank Personal Loan – कैनरा बैंक के साथ तुरंत पाएं ₹85,000! कोई CIBIL, कोई आय प्रूफ की जरूरत नहीं

Benefits of ₹10 लाख का अर्जन्ट लोन with low Cibil Score

Although it’s quite challenging to get a loan with a bad score, it is not impossible; here are some benefits of a loan with a low cibil score.

Availability of Funds: Amidst the financial crunch, the foremost benefit is the applicants may access the funds they seek.

Improve Cibil Score: Once you have the funds you need, it’s time to improve your creditability in the traditional loan market by repaying the loan on time without any lapses.

Flexibility: NBFC loans have additional benefits; the borrower may repay the loan in easy EMI in the equated months.

Discipline: The discipline most needed in the financial market is paying the EMI on the due date. If you adhere to this, your cibil score will keep soaring.

Relationship: Building a good relationship with the lender may bring more opportunities and exciting rewards shortly.

Where to get a Loan with a low cibil score?

We know getting a loan with a bad Cibil score and no salary slip is challenging. However, some fintechs and NBFCs are still providing loans without this. So, if you have an issue with your cibil score, you may look through these procedures to get a personal loan with a low cibil score.

NBFC: Check the list of NBFCs that cater to borrowers with diverse cibil score histories. Some may not rely heavily on such cibil scores.

Co-Applicant– If you have a reliable co-applicant with a good cibil history, applying jointly may increase the loan approval with secure loan terms.

Loan Amount: Applying for a smaller loan is a good idea, especially if you don’t have a good cibil score. Paying responsibly may improve your cibil score, and you can qualify for larger loans in the future.

Secured Loan: Use valuable assets like cards and property as collateral. This can mitigate the lender’s risk and increase your loan approval chances.

Loan App: Being convenient should not be the best option bank upon. Opt only, in extreme cases, apps registered with RBI and work within their guideline. Read their terms and conditions carefully, seeking expert financial advice before proceeding.

Hero Finance Personal Loan: 5 लाख का लोन इतने काम ब्याज दर पर, सिर्फ इतने महीनों के लिए

BOB 10 Lakh Personal Loan 2024 – ₹10 लाख तक का तुरंत पर्सनल लोन, 0% ब्याज दर पर – फ्री आवेदन की सरल प्रक्रिया!

Documents Required for Loan with Bad Cibil Score

  1. Identity Proof: PAN Card, Aadhaar Card, Voter ID, etc.
  2. Address Proof: Utility bills, Aadhaar Card, Passport, etc.
  3. Income Proof: Salary slips for salaried individuals; income tax returns for the self-employed.
  4. Employment Proof: Employment ID and company details.

Also Read: BH Bharat Series Vehicle Registration

Popular lenders provide Low Cibil Score Loan

L&T FinanceUpto 15 Lakhs
IIFL FinanceUpto 5 Lakhs
Loan BabaUpto 2 Lakhs
FaircentUpto 10 Lakhs
Bajaj FinservUpto 12 Lakhs
PaySenseUpto 5 Lakhs
PayU FinanceUpto 25 Lakhs
IDFC BankUpto 1 Cr

Pros and Cons of Loan with a Bad Cibil Score

All that glitters is not gold. Likewise, a tempting loan with a bad cibil score may have drawbacks.

Pros Cons
The most important thing is that it fulfils your financial needs.Usually, these loans come with higher interest rates.
Paying responsibly may lead to a good cibil history, and you can qualify for any loan in future.With bad cibil scores, you can avail of up to 10 lakh loans only.
Its application process is smooth like others and loan approved within a day or sometime in hours.If you miss any instalment, then it may have a bad effect on your cibil history.
Some lenders even provide a fixed interest rate, which may help you without putting the extra burden in your pocket with a floating interest rate.Many lenders have hidden charges, which are usually high. Make a wise decision before entering the lucrative offers.
Loan tenure is not as high as that of traditional lenders.

Can I apply for a loan with a bad cibil score?

Yes! Many lenders are issuing loans against bad cibil scores.

How can I get a loan with zero cibil?

You need to dig out, as so many lenders, NBFCs, and even loan apps are issuing loans without considering your cibil history.

What is the interest rate of a loan issued with a bad cibil score?

Generally, its interest rate and other charges are on the higher side.

What documents are required for a loan with a bad cibil score?

Basic documents like identity proof, address proof, PAN Card, Aadhar Card, and ITR, if any.

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