5 ways to get an online personal loan with a low CIBIL™ score

 Get an online personal loan with a low CIBIL™ score below 650 through these ways – showing sufficient income, low amount, apply with a joint loan or guarantor, etc.

How To Get An Online Personal Loan With Low CIBIL™ score

Online personal loans can be a very easy and convenient way to get money in a cash crunch since they have very few eligibility criteria. A CIBIL™ score is one of the most important eligibility criteria. 

What is CIBIL™ score and what is its importance?

The The score is derived using the credit history found in the report. 

The  CIBIL™ score falls between 300 to 900. A score of 700 and above is deemed a good score. Your loan application is more likely to be accepted if you have a higher credit score. Applicants with a credit score of 750 and above can get a low rate of interest. The lowest rate of interest is given to applicants who have a  CIBIL™ score of 850. If the  CIBIL™ score is 550 or above, the interest rate is very high and you will get rejected by the lender. 

What if your  is below 650?

A CIBIL™ score of below 650 is generally known as a bad credit score and it could be an obstacle in getting loans. You can still get a personal loan with a CIBIL™ score below 650. 

Ways To Obtain A Personal Loan With A Low 

  1. Show that your income is sufficient to fulfill loan repayments 

If you can prove that your income is a substantial amount, then the lender will be more open to considering your application even with a low credit score. You can have an increase in salary or some additional income to support this. The lender might be convinced if you show that you have a stable job and a steady income. You may have to pay a higher rate of interest using this method.

  1. Apply for a low personal loan amount 

When you have a low CIBIL™ score , the lender may see you as a risky borrower and not approve your loan. However, if you apply for a lower loan amount, the probability of loan approval is higher when compared to requesting for a higher loan amount. 

  1. Apply for a joint loan or get a guarantor

If your CIBIL™ score is very low you can get a co-applicant or a guarantor with a good CIBIL™ score and credit rating. They can vouch for you and help in getting your loan approved. You will have to get their permission and they must be willing to complete KYC formalities with the necessary signatures and forms. The lender will have a higher inclination to grant the loan if your co-applicant or guarantor has a good credit score and steady income.     

  1. Resolve your credit report errors

 There might be mistakes in your report which can be due to various reasons.  Usually, it is due to the information not being updated. If you regularly check your CIBIL™ score, you can spot these errors easily and report them immediately. Resolving these errors could lead you towards credit score improvement making it more likely for you to acquire a loan.

  1. Request your lender to consider an NA or NH in your credit report 

Ask your lender to consider you as NA or NH. Then , you will be considered as inactive or absent for the last 36 months. You will appear as having no credit score to your lenders. This could get you a personal loan but with a higher interest rate. 

How do you know you are eligible for a personal loan with a low CIBIL™ score?

  1. Use a personal loan eligibility checker to make sure you get the details on the loan amount and the EMI you should pay.
  1. Check your CIBIL™ score online. Knowing your score will help you to predict how high the interest amount will be.

If you have a low CIBIL™ score, a non-banking financial company (NBFC) might be a good choice as they are known to have more flexible eligibility criteria than banks. You should also keep in mind that if you have a genuine reason such as a medical emergency for having defaulted on a loan, then the lender might accept it if you explain the reason to them.

What if you don’t have a CIBIL™ score?

You cannot get a personal loan if you don’t have a CIBILTM score. Since personal loans are unsecured loans, the lender is very unlikely to take your application if it has no CIBIL™ score. Your options are to start your credit history which is usually a long process or take up one of these options listed below

  1. Get a collateral loan 

You can get a collateral loan by pledging your assets to not only help generate your credit report but also to appear more trustworthy to lenders.

  1. Apply for Peer-to-peer lending

Peer-to-peer lending enables you to get a loan from another individual directly without the need for middlemen. 

  1. Use parent or spouses credit score 

If your parents or spouses have a good credit score, then you can use theirs to get a loan. You can add yourself as a joint applicant.    

  1. Get a credit card 

You can easily get a credit card if you have a salary and a bank account. This will help improve your score if you pay the dues on time.  


It is not impossible to get a loan with a low  CIBILTM score below 650. You can still get one by showcasing other factors that might make you seem eligible for the loan. However, you must repay this loan on time for your credit score to not become worse. You will need to improve your CIBIL™ score to get personal loans online easily in the future.


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