How can I get instant loan without CIBIL?

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If you are having trouble getting a long or short-term loan without a CIBIL score owing to not having any credit history, you can ask your immediate family, like your parents or your sibling, to act as guarantor for the loan. You however will need to ensure that the person who acts as guarantor has a good score.

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Simply so, 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, can I get loan without salary slip? If you are self-employed, a freelancer, earning in cash, or working on a contract, you may seek a personal loan with no salary slip. In such cases, you need to produce other financial documents to validate your income. This may take the form of an income certificate, bank account statements, ITR or Form 16.

Also, can I get personal loan without CIBIL score?

Prove that your income is enough to repay the loan: Despite a low credit score or having no credit score, you can still avail a personal loan of your choice provided that you can prove it to the lender that your income is sufficient to repay the loan on time.

Does Bajaj Finserv check CIBIL?

Role of credit score in Personal Loan approval

Like other leading financial institutions, Bajaj Finserv also considers your CIBIL score as an important eligibility criterion. To qualify for a Bajaj Finserv Personal Loan, you should have a minimum credit score of 750 or more.

1 Related Question Answers Found

How can I get loan without income?

How to get a personal loan without Salary Account/Slips or Income Tax Returns certificate

  1. Submit Form 16.
  2. Submit alternate source of income.
  3. Submit collateral.
  4. Have a relationship with the bank.
  5. Get a guarantor on board.

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