Get Instant Loan Without CIBIL Score

  • Updated on: 31 Jan 2024
  • Published on: 17 Jun 2021
Get Instant Loan Without CIBIL Score

Getting an instant loan without CIBIL score can be challenging because it is a crucial criterion. Lenders give credit score a high importance because it gives them insights about

  • Your credit behaviour
  • Your default risk
  • Your ability to repay 

That said, it isn’t impossible to apply for a loan with low creditworthiness and there are several ways you can try. Read on to find out these methods.

What Does ‘No CIBIL Score’ Indicate?

Bureaus offer different ratings for those who are new to credit or have no history of borrowing. In some cases, you may see a ‘No Score’ rating. This can mean either of the following:

  • You don’t have enough credit history to calculate a credit score
  • You haven’t started using any credit and, therefore, have no data for a score
  • You have all add-on cards and, therefore, no exposure to credit for a score

In any case, you should build your credit score through responsible credit behaviour. Some tips you can try are:

  • Repaying all dues on time
  • Keeping a healthy credit mix
  • Monitoring your credit utilisation

After building a good score, you can easily get affordable and hassle-free access to loans. However, ensure you follow the above tips to maintain and boost your creditworthiness for future borrowings.

Alternatives to Get a Personal Loan Without a CIBIL Score

There are several ways to get an instant loan without CIBIL score. Some of these are:

  • Showcase good repayment capacity by disclosing all income sources
  • Opt for secured loans to lower the lender’s risk
  • Get a guarantor or co-applicant to assure complete repayment
  • Apply with lenders like Fibe, who offer borrowers instant loan without CIBIL or credit score

Eligibility Criteria for Personal Loans Without a Credit Score

As mentioned, Fibe offers personal loans without CIBIL or credit score requirements provided you meet these basic eligibility criteria

  • You should be between the ages of 21 and 55
  • You should be a citizen of India
  • You should have a minimum income of ₹15,000 if residing in non-metro cities or ₹18,000 if residing in metro cities
  • You should have the necessary KYC documents, such as ID and income proof

Documents Required for Personal Loans Without a Credit Score

With Fibe, you only need to upload these documents to get instant loan without CIBIL or credit score: 

  • Address proof (utility bills, passport, rental agreement, voter ID)
  • Identity proof (PAN card, Aadhaar card, passport, driver’s license)
  • Income proof (bank statements for 3-6 months and salary slips)
  • Selfie

Steps to Get Personal Loans Without a Credit Score

Follow the steps outlined below on the Fibe website or app to get instant loan without CIBIL score.

  • Register with your mobile number
  • Enter your basic details 
  • Check your approved limit
  • Upload your KYC documents
  • Choose the amount and tenure you want

Fibe offers up to ₹5 lacs as an instant loan without CIBIL score requirements at interest rates starting from just 2% a month. You can use the funds with no end-use restrictions and repay comfortably with a tenure of up to 36 months with no foreclosure charges. Download the Fibe instant loan app for loans without CIBIL score criteria. 

FAQs on Personal Loans Without a Credit Score

Can I get a loan without a CIBIL score?

Yes, you can try several options, one of which is applying with Fibe. We don’t rely on credit scores and have an alternate credit scoring mechanism to assess your eligibility. 

What is meant by the CIBIL score?

It is the 3-digit credit score assigned by TransUnion CIBIL and depends on multiple factors, such as: 

  • Repayment track record 
  • Credit utilisation 
  • Credit mix 
  • Number of enquiries

What is a good CIBIL score?

A score above 750 is generally considered ideal for getting affordable and easy financing. 

How can I get a loan fast without a CIBIL score?

Apply with Fibe to get a personal loan in a matter of minutes. All you have to do is follow these steps: 

  • Register on the app or website 
  • Fill in a few basic details 
  • Upload the required documents

Which app is best for a loan without a CIBIL score?

Fibe’s instant loan app is a leading app where you can get quick and affordable funding. Here are the easy steps you need to follow:

  • Download the app
  • Fill in some basic information 
  • Upload the KYC documents for approval

How to get a personal loan without CIBIL verification?

Visit Fibe’s website or download the instant personal loan app and complete the easy 3-step process. 

What can I do if I have no CIBIL score?

Apply with Fibe to get instant loan without CIBIL score. We use an alternate scoring mechanism and, thus, offer loans even to those who have a low or no credit score.


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