How Personal Loan Without CIBIL Score is Possible?

It is possible to borrow a personal loan if you don’t have a CIBIL Score. Because CIBIL Score is required for the individuals who have a credit history. And if you don’t have borrowed a loan or credit card before then your credit history will be zero, so the CIBIL score. The CIBIL Score is the estimation of the applicant credibility for the loan. It ranges from 300 to 900, where 750 is considered the ideal score to borrow any loan. Here in the article, you will know how to get a personal loan without CIBIL score in India.

Applicant Income

If you don’t have a CIBIL score then no worry because you can still borrow the loan for your financial needs if your income meets the eligibility requirements. As per the eligibility criteria of the bank or NBFC it is necessary to meet the minimum income requirements to know whether the applicant is eligible to repay the loan or not. A personal loan can be availed with a minimum income of INR 10,000. So, there shouldn’t be any problem for you in meeting the money requirements for the EMI payment.

To prove your eligibility for the personal loan without CIBIL Score, you need to submit the income proof such as salary slip, salary certificate, Income Tax Return Report, TDS certificate, Form 16, etc.

When the proof of documents are being verified and approved then the loan is sanctioned and disbursed to the borrower account.

Monthly Obligations

Your monthly expenses are also taken into account while calculating your eligibility for the personal loan. It includes your rent, monthly expenditures, credit card bills, children school fees if the applicant is a parent, current loan EMIs, etc. So, take care of the above mentioned expenses when you apply for a personal loan.

Joint Application

There is also another way for you to borrow a personal loan without CIBIL score by applying for it with a co-borrower. It guarantees the lender that when you don’t pay the EMI, the co-borrower will take over the loan payments. But it is necessary that your co-borrower has a CIBIL score and meets the eligibility criteria for the personal loan same as you.

Work Experience

If you are salaried and work in a private or public sector company then it’s vital that you have a minimum experience of 2 years. Why? Because it shows the lender that you are a permanent employee and will pay the loan on time as your salary will disburse on time. Regular flow of income is important for the individual to borrow a personal loan in India.

Employer Status

Your company or organization in which you are currently working is taken into account to know how it treats their employees, provide salary, position in the business, etc. Because if the company isn’t able to offer salary on time or fire the employees in a short period of time then it leads to nonpayment or due to the personal loan. And when you apply for an unsecured loan like a personal loan without CIBIL Score then it might be a problem for you.

Business Stability

For the self-employed professionals and non-professionals the flow of income depends on the business stability which is minimum should be 3 to 5 years depending on the lender you choose. So, if you don’t have a CIBIL score and want to borrow a personal loan, then you need to take care of the mentioned factors for the loan approval.


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