Getting a Personal Loan with a Credit Score of 650

Updated on: 8 Dec 2025

If you are planning to apply for a personal loan for CIBIL score of 650, you may wonder whether lenders will approve your request. The good news is that a score of 650 is still considered fair. Your income, employment stability and overall repayment capacity also play a major role in the decision.

While a 750+ score gets you better loan offers, you can still qualify with a 650 score if you meet the lender’s criteria and follow a few smart steps. Read on to know how to improve your chances.

Can I Get a Personal Loan With a 650 Credit Score?

Yes, getting a personal loan for CIBIL score of 650 is possible. Here’s what you need to know:

A 650 score is considered fair. It is neither great nor poor
Approval depends on other factors like income, employment and existing debt
You may need to accept a higher interest rate or a lower loan amount
Applying through NBFCs or digital lenders can improve your chances
Adding a co-applicant or guarantor can also help with approval

Now, let’s look at how you can boost your chances of getting approved.

Tips to Get a Loan With a Credit Score of 650

If you are applying for a personal loan for CIBIL score of 650, these simple steps can improve your chances:

Show strong income: Share clear proof of steady earnings. A healthy salary reassures lenders that you can repay your EMIs on time.
Explain NA or NH status: If your report shows NA or NH, explain to your lender why there’s no recent credit history. Lenders may evaluate you as a fresh borrower.
Add a co-borrower: Applying with a parent, spouse or another eligible family member strengthens your profile. If they have a better credit score, it significantly reduces the lender’s risk.
Choose a smaller loan amount: With a 650 score, lenders may prefer approving lower amounts first. Once you repay on time, your eligibility improves.
Check lender criteria: NBFCs and trusted digital lenders like Fibe have simpler and more flexible rules for moderate credit profiles.
Be open to slightly higher rates: A lower score can mean a higher interest rate. If the loan is urgent, accept the rate and repay consistently to rebuild your score.

CIBIL Score Range for a Personal Loan

Your credit score plays a key role in whether your loan gets approved and on what terms. Here’s how different CIBIL score ranges impact your personal loan eligibility:

CIBIL Score Range	Rating	What It Means for Your Loan
NA/NH (No History)	No Credit History	You’ve never taken a loan or a credit card. Some lenders may treat you as a new borrower.
750 – 900	Excellent	High chances of quick approval. You can also get better loan offers with lower interest rates.
700 – 749	Good	Good chance of approval with reasonable loan terms. You may also get better rates.
550 – 699	Fair	Some lenders may approve. But you can expect higher interest rates or a lower loan amount.
300 – 549	Poor	Very low chances of approval. This shows missed EMIs or defaults in the past.

A higher score shows strong credit behaviour and gives you better control over your borrowing options.

Factors Affecting Personal Loan CIBIL Score and Ways to Improve It

Your CIBIL score reflects your credit habits. Here’s what can affect it and how you can improve it over time.

Factors That Affect Your Score

Payment delays: Missing EMIs or credit card payments can lower your score
High credit usage: Using more than 30% of your credit limit regularly shows poor credit discipline
Multiple loan enquiries: Applying for loans too often in a short time reduces your score
Loan defaults: Not repaying loans as agreed seriously damages your credit profile
Short credit history: Having limited credit activity might affect your overall score

6 Ways to Improve Your Score

Pay EMIs on time: Use auto-pay or reminders to never miss a due date
Lower your credit use: Keep utilisation under 30% of your total credit limit
Avoid frequent loan applications: Apply only when really required to prevent multiple hard inquiries on your report
Check your credit report: Monitor it regularly and raise a request if you spot any errors
Limit unsecured loans: Try to maintain a healthy mix of secured and unsecured credit
Close old dues quickly: Clear any pending credit card bills or small outstanding loans. Settling old balances gives your score an immediate boost.

With these practices, you can gradually improve your 650 CIBIL score and get easy access to funds. Remember, building your score is not something you can do overnight. To keep an eye on it, check your Credit Score for free on Fibe. If you need funds during an emergency, you can rely on Fibe to get quick and affordable Instant Cash Loan.

We use alternative scoring mechanisms to measure your repayment capacity and creditworthiness. As such, even to those who are new to credit or have a low score can get access to funds.

Moreover, we have quick approval and flexible repayment options, along with zero foreclosure charges and a 100% digital application. Download our Personal Loan App or visit our website now to get funding of up to ₹5 lakhs!

FAQs on Personal Loan for 650 CIBIL Score

Can I get a loan if my credit score is 650?

Yes, you can. Your approval would depend on factors like income stability, job profile and existing debt. You can always add a co-borrower or choose NBFCs as well. This can improve your chances of getting a personal loan for CIBIL score of 650.