Loan with Bad CIBIL Score 2024: We have to pay for various things like our children’s education, medical bills, marriage, vacations, and investments daily. However, the necessary funds are often not available with sufficient time. We pay every debt when it comes to using our monthly income. However, there are cases where circumstances make it necessary to consolidate all household expenses. In this case, borrowing is our only option, as we do not have enough cash on hand. In this article, we will be discussing more about the loan with a bad CIBIL credit score that will be provided by the banks and financial institutions in 2024, wherein they will provide loans from any amount ranging from Rs. 5,00,000 to Rs. 10,00,000.
Many individuals have damaged their credit scores for a variety of reasons. Their lives are difficult due to loans and low Credit Information Bureau India Limited, or in short, CIBIL credit scores. As a result, in today’s article, we have provided you with the Low Cibil Score Loan Application that can be used for applying. This means you can get a loan no matter how terrible your credit score is. In cases of a low, zero, or even negative CIBIL credit score, most of the banks will directly reject your loan application. In this case, through some applications and non-banking financial companies, or, in short, NBFCs, you can still get a quick personal loan with a negative CIBIL credit score.
In this case, there are a few loan applications that can help you with a good loan offer that ranges from Rs. 5,00,000 to Rs. 10,00,000 even though your CIBIL credit score is low, zero, or negative, as we have stated in the first paragraph of this article. Usually, when an organization looks at a customer’s CIBIL credit score, it prefers it to be in the range of 750 to 900. It is also based on this CIBIL score that the maximum personal loan can be repaid in any convenient month. In contrast, a negative CIBIL score was defined as less than 600. Below is the overview table that you must know in detail.
Loan with Bad CIBIL Score 2024:ख़राब/ घटिया/कम सिबिल पर भी मिलेगा लोन, करना बस ये होगा ₹5 लाख – ₹10 लाख
PaySense, MoneyTap, Dhani, India Lends, CreditBee, Severe. Cash, Money View, etc.
Benefits of Bad CIBIL Score
Various
Personal Loan Amount Offer (Min)
Rs. 5,00,000
Personal Loan Amount Offer (Max)
Rs. 10,00,000
Disadvantage of Bad CIBIL Score
Pay High Interest Rate and Less Loan Amount
Interest Rates (Application)
12% to 48%
Processing Fees (Application)
10%
GST (Interest Rates and Processing Fee)
18%
Other Details
Check Article
As we have already mentioned earlier, personal loans can be easily provided to eligible members who are in urgent need of money and want the loan amount to be approved and received on their respective bank accounts as soon as possible. There are various lenders who provide personal loans on the basis of CIBIL credit score, i.e., if your CIBIL credit score is high, you will get it, but a few lenders provide you the loan even if you have a less or bad or zero or even negative CIBIL credit score. These lenders provide your loan on the basis of loan applications like PaySense, MoneyTap, Dhani, India Lends, CreditBee, Severe. Cash, Money View, etc. The loan amount can be anywhere from Rs. 5,00,000 to Rs. 10,00,000 and can be approved and received immediately. There are fewer chances of the loan amount being transferred to the bank accounts. The only disadvantage of such loan applications is that you need to pay a higher interest rate along with the processing fees, and you will get a very low return.
Loan with Bad CIBIL Score 2024 – Personal Loan Offers
Individuals in India who are facing immediate financial difficulties and have a poor CIBIL score can still avail personal loans by 2024 from various lenders. The loan amount of Rs. 5,00,000 to Rs. 10,00,000 can be received immediately with an interest rate of 12% to 48% if you apply for a personal loan via an application. Also, you will be charged a processing rate of 10%, and a GST combining interest rates and processing fee is charged at 18%.
Loan with Bad CIBIL Score 2024 – How to Apply?
Following are the important steps that you should know to apply for a personal loan with a bad, negative, or zero CIBIL credit score in 2024:
First of all, you must open your Google Play Store and search for any loan application that is available on the application platform.
Then, you need to click on that application, install it, and open that particular application on your phone.
After that, you are required to register yourself with your name, password, Aadhaar, and PAN Card attachment.
Next, you must enter your personal details and bank account details on that loan application.
Next, you need to choose a very small loan amount and try to apply for it easily.
Now, the loan application company will check your application and make sure you are eligible for the loan, and once all the processes are completed, your loan will be approved faster.
As soon as the loan is approved, you will have to check your bank account, wherein your loan amount will be received within 48 hours.
Loan with Bad CIBIL Score 2024 – Documents Required
There are several documents that are required while applying for a personal loan, even if you have a very bad CIBIL credit score. These documents are mandatory and include: a PAN card, an Aadhaar card, bank statements from the previous six months, a selfie photo, and an online signature for agreement purposes.
Frequently Asked Questions – Loan with Bad CIBIL Score 2024
Ques: Where will you get the loan easily, even with a bad CIBIL score?
Ans: There are several loan applications that give loans easily to people with a bad CIBIL score.
Ques: Name a few loan applications that provide loans with a bad CIBIL score.
Ans: PaySense, MoneyTap, Dhani, India Lends, CreditBee, Severe. Cash, Money View, etc., provide loans with a bad CIBIL score.
Ques: Can I download the application form in PDF format?
Ans: Yes, you can download the application form in PDF format.
