The full form of Cibil is credit information bureau India limited. Cibil score is also known as credit score. A credit score is a three-digit score that shows your credit history. If your credit score is more than 750 then you can easily avail of the loan.
There are lots of misconceptions like if you have a low Cibil score then you cannot apply for a loan. As reputed private financers in Delhi, we offer loans with a Cibil score. It’s indeed difficult to get a personal loan with a low Cibil score but it’s not impossible.
Here are some mistakes you can avoid while applying for a personal loan without a Cibil check.
Don’t ask for a humongous loan:
You might need a huge amount of money to fulfil your need, but lenders might not feel secure with a low Cibil score. Apply for a small amount of loan and keep repaying EMI on time this will help you to improve your CIBIL score. Next time you can apply for a large number of loans.
Apply with co-applicant or guarantor:
Do not apply for a loan without a guarantor if your cibil score is very low. Applying for a loan with a guarantor or co-applicant makes the process of application easier if the co-applicant has a steady income and a good CIBIL score. Co-applicant just have to fill some KYC formalities.
Don’t Claim Big:
Properly convey to your financial institution that you have a low Cibil score but you have a steady income source to repay the loan EMI’s
Request For NH or NA Consideration:
The NH or NA in your credit report shows the absence of any type of credit activity. Or simply show the absence of credit from the last 36 months due to a low Cibil score; inactivity of credit. In this type of case, lenders may charge you a higher amount of interest.
So these are some points you must consider before applying for a loan if your Cibil score is low.
If you are looking for a loan with a low Cibil score then CLICK HERE. We are offering a loan with a low Cibil score in Delhi, Noida, Gurgaon, Ghaziabad. We guarantee 100% approval of the loan and won’t charge you a single rupee before you get the loan amount in your hand.