Some NBFCs have sanctioned loans for credit scores that are as low as 360. Peer-to-Peer Lending (P2P) – There are some lending websites, called P2P websites, that offer loans of up to Rs. 5 lakh with tenures ranging between 12 months and 60 months to people with low credit score.
Moreover, can I get loan with 500 CIBIL score?
A personal loan for CIBIL Score of 500 is difficult to get. Banks and NBFCs prefer CIBIL Score of 750 and above to approve a personal loan. However, a few lenders may approve the loan for score of 550, but at a higher rate of interest, fees, and charges.
Furthermore, how can I find my CIBIL score?
Check Your CIBIL Score Online:
- Log on to the official CIBIL website and click on Know Your Score.
- Fill up the online form which asks for details such as name, date of birth, address, id proof, past loan history and other relevant data.
- On filling the form and accepting changes, you will be taken to the payments page.
How can I get a loan with poor credit?
How to get a Personal Loan when you have a bad CIBIL score
- Prove that your income can support EMI payments. …
- Ask for a lower personal loan amount. …
- Apply with a co-applicant or secure a guarantor. …
- Correct mistakes in your credit report. …
- Request your lender to consider your case with a NA or NH in your credit report.
How can I get a loan without a job?
How to Get a Loan Without a Job
- Find an alternative source of income. …
- Get a cosigner. …
- Provide collateral. …
- Lower your debt-to-income ratio. …
- Increase your credit score. …
- Use a home equity loan/HELOC. …
- Borrow from a friend/relative. …
- Take out an auto title loan or pawnshop loan.
Is 550 a good CIBIL score?
Usually, a credit score of 750 or more is considered excellent. People with a score over 750 can expect better approvals for financial services like loans. A score over 700 is decent while getting a personal loan for a CIBIL score of 550 or lower can be difficult.