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When applying for credit in India, lenders assess your CIBIL score to understand repayment history and financial behaviour. A personal loan for low CIBIL score may be considered for individuals with limited or weaker credit profiles who need financial support. A low score can result from missed payments, high credit usage, or multiple loan enquiries. Approval is not guaranteed and depends on lender assessment. In some cases, loan terms may vary, such as loan amount or interest rate. Maintaining good financial discipline and reducing dues may help improve credit profile over time. Borrowers can check eligibility online using mobile number and OTP through a simple process before applying.
You can also check your loan eligibility using just your mobile number and OTP through a 100% online process, helping you understand available options before applying.
What is the impact of the CIBIL score on a personal loan?
Your CIBIL score is a key factor that influences your personal loan eligibility and approval chances. Generally, a score of 650or above reflects good creditworthiness, making it easier to get loans with competitive interest rates. A low CIBIL Score loan may still be available, but approval depends on overall financial factors such as income, job stability, and existing liabilities. Applicants looking for a low CIBIL Score personal loan may face stricter conditions like higher interest rates or lower loan amounts. While options exist for lower credit profiles, improving repayment behaviour and reducing debts can help secure better loan offers in the future.
Ways to get an instant personal loan with low credit score
Can I get a personal loan with low CIBIL Score?
Lenders look at your credit score to determine how likely you are to repay a loan. Additionally, if your CIBIL score is low, it could be difficult for you to secure a personal loan. As a result, it is recommended to maintain a CIBIL Score of 650 or above in order to get a personal loan.
Prove that your income can support EMI payments
If you have received an increase in your salary or have an additional source of income, a lender may consider your application for a personal loan even if you have a low credit score. If you can communicate to the lender that you have a stable job and steady income, they are more likely to grant you the loan despite a poor CIBIL score. However, you may have to pay a higher personal loan interest rate when you prove your eligibility in this manner.
Ask for a lower personal loan amount
Asking for a high amount with a low credit score only indicates more risk to the lender. From a lender’s point of view, these are indicators that you may default on repayment. Suppose you apply for a lower amount of a personal loan. In that case, a lender may feel more comfortable granting the loan to you, as a lower amount is easier to repay.
Apply with a co-applicant or secure a guarantor
In case your CIBIL credit score is low, you can avail of a personal loan by involving a co-applicant or a guarantor. Of course, you will need to ask the other applicant beforehand, as they will have to complete KYC formalities and provide signatures too. The key benefit here is that if your lender finds the co-applicant or guarantor to have a steady income and a better credit score, they are certainly more likely to grant you a personal loan.
How to improve your CIBIL score quickly before applying
- Pay pending dues on time – Clear outstanding credit card bills and EMIs to boost your score.
- Limit new credit applications – Avoid multiple loan requests, which can negatively impact your score.
- Check your credit report – Identify and correct errors before applying for a personal loan for low CIBIL score.
- Reduce credit utilisation – Keep your card utilisation below 30% of the available limit.
- Opt for a secured loan or low CIBIL personal loan – Choosing lenders who cater to low CIBIL borrowers can improve approval chances.
Steps to correct mistakes in your credit report
Your CIBIL report may sometimes contain errors, usually when recent information has not been updated correctly. Such mistakes can affect your credit score through no fault of your own. This is why it is important to check your CIBIL report for free on a regular basis and raise a correction request if needed. Doing so can help improve your credit score and strengthen your chances of getting a personal loan.
Your CIBIL score is calculated based on four key factors, each carrying a specific weightage:
| Factors | Weightage |
| Payment history | 35% |
| Credit utilisation | 30% |
| Length of credit history | 15% |
| Type and number of credit accounts | 20% |
Request your lender to consider your case with a NA or NH in your credit report
‘NA’ or ‘NH’ on your credit report indicates that there has been no credit activity in your name, either because you have never taken credit or because there has been no activity in the last 36 months. In such cases, your CIBIL report may not show a credit score. You can speak to the lender about this credit inactivity, as some lenders may still consider your application, usually at a slightly higher rate of interest.
Eligibility to get a personal loan for a low CIBIL score
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 650 or higher.
- Customer profile: Self-employed or Salaried
*You should be 80 years* or younger, at the end of the loan tenure.
Can I get a personal loan without CIBIL Score?
When you apply for a personal loan, lenders first check your CIBIL Score to determine your creditworthiness. For those who do not have any credit history, or in simpler terms have never borrowed from any lending institute and do not have a credit card, may not have a CIBIL Score. This kind of a borrower can still get a personal loan by submitting income statements, employment proof and several such documents. Alternatively, borrowers can also opt for a joint loan, find a guarantor or considering putting up a collateral like a car or a house.
These measures will help you avail of a personal loan despite a poor CIBIL score. However, make sure that you have sufficient funds for repayment. If not, your credit score will plummet further. For this, you can use the personal loan EMI calculator to know your EMI well in advance and plan your repayment accordingly. As a last resort, you can check to see if you can pledge assets such as jewellery or property to get a personal loan.
Conclusion
A personal loan with low CIBIL score is considered by some lenders in India based on factors such as income stability, repayment capacity, and overall financial profile. This type of personal loan is designed for individuals with limited or weaker credit history who may need financial support in urgent situations. Options such as Emergency loans can help address short-term financial requirements depending on eligibility and lender assessment. Loan terms, including interest rates and approved amount, may vary. Maintaining regular repayments and improving credit discipline over time can support better financial planning and borrowing opportunities.
Multi-purpose personal loans
| Personal Loan for Travel | Personal Loan for Wedding | Personal Loan for Higher Education |
| Personal Loan for Medical Expenses | Personal Loan for Home Expenses | Personal Loan for Women |
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Key offerings: 3 loan types
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) |
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:
Part Pre-payment
|
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.
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 fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up 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
Overview
CIBIL Score
Personal loans with low CIBIL
Credit score
A CIBIL Score of 650 or higher is required to get Bajaj Finance Personal Loan.
A CIBIL report is a detailed credit history document that shows your credit accounts, repayment behaviour, and credit score.
Personal loans are often easier to qualify for compared to other unsecured credit options, as lenders assess multiple factors such as income, employment stability, and repayment capacity. While a good credit score can improve approval chances, eligibility is not based on a single factor alone. Loan terms and approval depend on the lender’s criteria, so it is advisable to check eligibility before applying.
The lowest acceptable CIBIL score for a personal loan can vary among lenders, but generally, a score of 650 and above is considered the minimum eligibility criteria. However, having a higher credit score significantly improves your chances of loan approval and may also help you secure a loan with a lower interest rate and better terms.
Apply with NBFCs or lenders offering loans for low scores, provide income proof, consider a guarantor, or opt for a secured loan if possible.
Pay dues on time, maintain low credit utilisation, avoid frequent loan applications, and monitor your credit report regularly to correct any errors.
Getting an instant loan of Rs. 50,000 with a low CIBIL score may be possible, depending on the lender’s eligibility criteria. Some lenders assess factors such as income stability, employment details, and existing repayment capacity in addition to credit history. Interest rates and loan terms may vary, so it is important to review the conditions carefully and check your eligibility online before applying.
Urgent loans for individuals with bad credit in India depend on the lender’s eligibility criteria. Lenders generally assess factors such as income, employment stability, and repayment capacity along with credit history. Loan approval, interest rates, and terms vary across lenders, so it is important to review the conditions carefully and check eligibility before applying.
The best CIBIL score is 650 or above, indicating excellent creditworthiness and improving your chances of loan approval with favourable terms.
Lenders consider multiple factors before approving urgent loans, including income, employment stability, and repayment capacity, in addition to credit history. Individuals with CIBIL defaults may face stricter terms or higher interest rates. Loan approval and conditions vary by lender, so it is important to review eligibility and terms carefully before applying.
Yes, you can apply for a personal loan even if you do not have a CIBIL score, as lenders may consider other factors such as income, employment stability, and repayment capacity. Loan approval, interest rates, and terms vary depending on the lender, so it is important to review the eligibility criteria and loan conditions carefully before applying.
Even with bad credit, you can explore personal loan options in India by checking lenders who consider factors beyond just credit scores. Providing proof of steady income, employment details, or collateral can improve your chances. It’s important to compare loan terms, interest rates, and eligibility requirements carefully before applying.
NBFCs (Non-Banking Financial Companies) may consider personal loan applications from individuals with bad credit, depending on their eligibility criteria. They typically assess factors such as income, employment stability, and repayment capacity. Loan approval, interest rates, and terms vary across NBFCs, so it is important to review the conditions carefully before applying.
The minimum CIBIL score for a personal loan is usually 650 or above.
Self-employed individuals can get personal loans with low CIBIL scores, but they may need to qualify certain eligibility criteria, provide strong financial documents and collateral in some cases.
The minimum CIBIL score required is 650. A higher score improves your chances of approval and attractive offers.
A loan offered to individuals with a low CIBIL Score may have varying interest rates depending on the lender, credit profile, income stability, and overall repayment capacity in India. The exact difference in interest is not fixed and is decided based on individual lender assessment.
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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