Can you get a personal loan without a CIBIL score check? Yes. However, there are tips that you should know to ensure easy, quick and seamless access to funds. One of these is choosing lenders like Fibe that offer loans without a credit check.
Read on for simple and easy ways to get a loan without CIBIL verification and improve your score.
Opting for a collateral-based personal loan can help you get the funds easily since lenders don’t generally check your credit score. In case you default, they can recover the dues by auctioning your asset. Since they have the assurance of getting their money, lenders can offer a personal loan without a CIBIL score. You can pledge any of the following as security:
Choosing a lender that uses alternative ways to check your score can help you get the funds easily. Some of the top institutions you can borrow from are:
These lenders generally don’t focus only on credit score since they consider various aspects like:
By showing that you have the income to manage the instalments of your loan, you can assure the lender of repayment, and they may offer you funds without a credit score.
You can prove your repayment ability in alternate ways, like:
In these applications, the repayment responsibility will fall on the other signer if you fail to do so and as such, your chances of approval increase. However, make sure you choose someone who has good creditworthiness, as the lender will consider their score. You can apply with your:
Here are some easy tips you can try:
Remember, improving your score will take time. If you need funds urgently, choose Fibe as you can get a loan without a CIBIL check. Our alternate credit scoring mechanism supports financial inclusion and gives easy access to funds, even to those with low or no scores. You can get an Instant Personal Loan of up to ₹5 lakhs at affordable rates and a tenure of up to 36 months with no foreclosure charges.
Download the Fibe Personal Loan App or log in to our website and enjoy a simple application process.
Yes, lenders like Fibe offers personal loans without checking your credit score. Alternatively, you can try some of these options:
Fibe is among the leading lenders where you can get up to ₹5 lacs without a credit check. You can also enjoy other benefits, such as:
You generally need a score of 750 and above but it depends on the lender you choose. With Fibe, you can get funding even if you are new to credit as long as you meet our simple eligibility criteria, which are:
Yes, however, you must choose a lender like Fibe, which uses an alternate credit scoring mechanism to assess your repayment capacity. To apply, simply follow these steps:
A credit score between 750-800 is considered good. However, some lenders may consider 700 as a good score too. Refer to this table for different ranges of credit scores and what they mean:
|‘Not Applicable’ or ‘No History’
Yes, you can get funds with no credit history through these ways:
If you have no credit history, your CIBIL score will be 0 or -1 (NA/NH).
If you are borrowing for the first time, you can apply for an unsecured loan with a lender that offers funds with no credit check. One of the leading lenders you can rely on is Fibe as you can get up to ₹5 lacs in 2 minutes.