Personal Loan with a Credit Score of 600: What to Know

Personal Loan with a Credit Score of 600: What to Know

With a credit score of 600, a Bajaj Finance Personal Loan is unlikely, since the listed criterion is a CIBIL score of 650 or higher. Six months of on-time payments can move you towards it.
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In summary

A credit score of 600 sits below the Bajaj Finance criterion, so the first step is raising the score, not applying. Applying now would add an enquiry without a likely approval for a Personal Loan.


  • CIBIL scores run from 300 to 900.
  • Bajaj Finance lists 650 or higher as a criterion.
  • On-time payments show sooner, since lenders report every 15 days.
  • Mohit moved from 612 to 668 in 8 months, then borrowed Rs. 90,000.

Once your score is above the criterion: Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

Can you borrow with a credit score of 600?

With a credit score of 600, a Bajaj Finance Personal Loan is unlikely, because the listed criterion is 650 or higher. Other lenders set their own criteria, so check each lender's terms and borrow only from lenders regulated by the Reserve Bank of India. Never pay an advance fee to anyone who promises a loan whatever your score.

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What does a score of 600 signal?

A credit score of 600 signals past repayment trouble, such as missed equated monthly instalments (EMIs), high card balances or a settled account. Your CIBIL report shows which applies to you.

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How do you move from 600 to eligibility?

You move from a credit score of 600 towards eligibility in 6 steps, led by on-time payments. The table sets them out.


StepWhy it helps
1. Get your CIBIL reportSee what pulled the score down
2. Clear overdue amountsStops new missed payments being reported
3. Pay every EMI and card bill on timeBuilds a fresh repayment record
4. Keep card balances well below the limitShows you are not stretched
5. Dispute any errorsWrong entries can pull the score down
6. Recheck before applyingApply once the score is above 650 

Last updated: 22nd October, 2022


None of these steps guarantees a set increase. Each on-time payment adds to your record from the next reporting cycle.


Worked example: Mohit in Jhansi

Mohit is 27 and works as a salaried railway workshop technician in Jhansi. He earns Rs. 39,000 a month. His score of 612, close to a credit score of 600, came from missed card payments. After 8 months of on-time payments and a cleared card balance, his score rose from that credit score of 600 range to 668. He then borrows Rs. 90,000 for a family wedding, at an illustrative 19.5% per annum, and compares the EMI.


EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. P is the loan amount in rupees, R is the annual rate divided by 12 and by 100, and N is the tenure in months. The formula spreads the principal and interest into equal monthly payments, so early EMIs carry more interest and later ones more principal. All figures are rounded to the nearest rupee.


TenureMonthly EMI (Rs.)Total interest (Rs.)EMI as share of salary (%)
18 months (1.5 years)5,80714,52714.9
24 months (2 years)4,55919,40811.7

Last updated: 22nd October, 2026


The 24-month option lowers the EMI by Rs. 1,248 but adds Rs. 4,881 in interest. The processing fee on Rs. 90,000 is up to Rs. 3,717. Mohit picks 24 months (2 years), keeping the EMI under 12% of his salary so he never slips back to a credit score of 600.


What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.


Moved up from a credit score of 600? With a Bajaj Finance Personal Loan, you can borrow Rs. 40,000 to Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

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What are the eligibility criteria and documents required?

The credit score of 600 is below the listed criterion. To be eligible for a Bajaj Finance Personal Loan, you need to meet the criteria listed below:


CriterionRequirement
NationalityIndian
Age21 years to 80 years.
Employed withPublic, private, or multinational companies (MNCs).
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

Last updated: 22nd October, 2026


Meeting these criteria does not guarantee approval, which depends on eligibility, verification and credit assessment. No collateral or guarantor is required.


You may need the following documents, subject to your profile and application:


Document categoryAccepted options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt

Not every applicant needs every document. Confirm the final list of required personal loan documents during your application.

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What interest rate and charges apply?

Bajaj Finance interest rates and charges on a Personal Loan, once your score has moved above a credit score of 600, subject to applicable terms and customer eligibility, are listed below:


ChargeAmount
Interest rate10% to 30.5% per annum, subject to applicable terms and customer eligibility
Processing feeUp to 4.13% of the loan amount, inclusive of applicable taxes
Bounce chargesRs. 700 to Rs. 1,200 per bounce
Penal chargeUp to 36% per annum on the overdue instalment
Part-prepayment (Term Loan)Up to 4.72% of the principal prepaid, inclusive of applicable taxes
Foreclosure (Term Loan)Up to 4.72% of the outstanding principal, inclusive of applicable taxes
Part-prepayment (Flexi Dropline and Flexi Hybrid Loans)No charge
Flexi facility chargeRs. 1,999 to Rs. 18,999, inclusive of applicable taxes
Annual maintenance (Flexi Dropline Loan)Up to 0.295% of the Dropline limit
Annual maintenance (Flexi Hybrid Loan)Up to 0.472% in the initial tenure; up to 0.295% in the subsequent tenure

Last updated: 22nd October, 2026

*Terms and conditions apply.


Charges are disclosed in the applicable product information and loan documents, so read your Key Fact Statement before you accept. Add the processing fee to the interest when you compare offers, and see the personal loan interest rates and charges page for details.

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What can you do while your score is low?

While your score is low, cover urgent costs without a new unsecured loan where you can. The table compares the options for someone with a credit score of 600.


SituationOption to considerTrade-off
Urgent small costSavings or family helpSmaller buffer
Asset you can pledgeSecured loan from a regulated lenderAsset at risk
Need can waitImprove the score firstThe need waits

Last updated: 22nd October, 2026


Apply once your score is above the criterion. A rejection while you hold a credit score of 600 only adds another enquiry.

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How do you apply?

You apply for a Bajaj Finance Personal Loan online in five steps:

  1. Check loan eligibility: Enter the required loan amount and repayment period, then click "CHECK LOAN OFFER".
  2. Enter personal details: Enter personal, financial and employment details to receive a personalised offer.
  3. Loan offer: Review the offer details and adjust the amount or tenure to suit the applicant's needs.
  4. KYC verification: Complete KYC and verify bank details.
  5. Talk to loan specialist: The application is submitted and an executive contacts the applicant about the next steps.

The process may differ for new and existing customers, and some customers may need to provide additional documents. At the offer step, choose an EMI you can always pay, since on-time payments keep your score rising.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Eligibility

Improving

Can I get a Bajaj Finance Personal Loan with a credit score of 600?

It is unlikely, since Bajaj Finance lists a CIBIL score of 650 or higher as a criterion. Approval also depends on income, existing EMIs and verification. Improve your credit score of 600 first with on-time payments and low card balances, then check your offer before applying, so you avoid a rejection.

On the CIBIL scale of 300 to 900, a credit score of 600 sits below the criterion that lenders such as Bajaj Finance use for unsecured loans. It signals past repayment trouble, such as missed payments or high balances. Your CIBIL report shows the reasons, which tells you where to start improving first.

It depends on what pulled the score down and how consistently you pay from now on. Lenders report every 15 days since January 2025, so on-time payments show sooner. In Mohit's case, it took 8 months. No step guarantees a set increase from a credit score of 600, so start as soon as you can.

Only if you need the loan and can repay it on time, since a new loan also adds an enquiry and an EMI. Paying existing EMIs and card bills on time, and keeping balances low, builds your record without new borrowing. Avoid applying while your credit score of 600 is below the criterion.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000