A loan with bad CIBIL score is by definition a financing facility provided by a lending company in favor of an Indian borrower whose Credit Information Bureau India Limited (CIBIL) credit score is low and who is facing difficulties in having their loan application file approved by conventional banks.
The loan with bad CIBIL score is dedicated to cover the financial needs of Indian borrowers whose score is below 750, noting that this score ranges between 300 and 900 with the latter being the highest and best score to obtain loan approval.
A loan with poor CIBIL score is often the only option that remains with borrowers who have a bad credit rating due to default on existing debts and who are looking at alternatives to overcome their poor CIBIL score that has been determined by level of indebtedness, timely repayment of debts and bill paying habits.
The loan without CIBIL check is ideal for Indian consumer with credit scores ranging between 300 and 750 and who are struggling to obtain approval for their loan application, give that financial institutions always check CIBIL prior approving any financing.
Financing with bad CIBIL score or without CIBIL check at all is available through alternative lending solutions that are generally no-banking solutions given that the Indian loan market has meanwhile developed quite flexible borrowing avenues.
HOW TO GET A LOAN WITHOUT CIBIL? SOLUTIONS FOR BORROWERS WITH POOR SCORE
To get a loan from Indian lenders without CIBIL, solutions are existing fortunately thanks to the evolution of the Indian finance sector to provide financing options, even in the most difficult cases, by granting the following types of loan:
TYPES OF BAD CIBIL SCORE LOANS
A few lending organizations offer many types of financing to borrowers facing a poor CIBIL situation:
ADVANTAGES OF THE BAD CIBIL SCORE LOAN
A loan facility with low CIBIL score present some advantages to an Indian borrowers as they get fresh cash despite being black listed:
DISADVANTAGES OF POOR CIBIL SCORE LOAN
A credit facility with poor CIBIL score has negative sides as well:
PERSONAL LOAN DEBT CONSOLIDATION BUSINESS LOAN MORTGAGE LOAN STUDENT LOAN CAR LOAN MEDICAL LOAN BAD DEBT LOAN LIST P2P SITES FOR START-UP LOAN FOR WEDDING FOR FARMER FOR HOUSEWIFE FOR UNEMPLOYED FOR DISABLED FOR POOR PEOPLE FOR ELDERLY P2P CAR SHARING P2P INSURANCE ISLAMIC P2P P2P BITCOIN POWER TRADING P2P HOME SHARING P2P PAYMENT LOAN WITH BAD CIBIL SCORE LOAN WITH BAD CIBIL SCORE P2P CLOTHING RENTAL P2P OFFICE RENTAL LIST OF P2P LENDERS LIST OF DIGITAL LENDERS LIST BANNED LOAN APPS P2P NAPPING P2P DONATION P2P CRYPTO LENDING