Loan with zero CIBIL score: Nowadays, people have to get a personal loan due to the increase in home expenses. Often people do not get a loan because they do not have a good CIBIL score. Today we will tell you that you can get a loan with a Zero CIBIL score. We will tell you how to apply for a loan, the eligibility of the loan and the full information of the loan application.
Loan with zero CIBIL score
There are many banks and financial institutions in India today that provide loans to fulfil their different needs. However, all these banks and financial institutions check out many factors before giving a loan. Of which CIBIL score plays an important role. With a good CIBIL score, you are more likely to get a low interest rate loan, while a bad or zero CIBIL score does not get a loan.
What is CIBIL score
CIBIL score is a kind of credit history, shown in three-digit. The CIBIL score is between 300 and 900. No. 750 and above CIBIL score is considered good, while 600 or less CIBIL score is considered bad.
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Zero CIBIL score
Zero CIBIL Score means you have never used any kind of loan or credit card. Due to which no credit history is available.
How to apply for a loan with zero CIBIL score
If your CIBIL score was poisoned, you would not get a loan in the first time.
But that’s not the case anymore. Now, you can also get a loan with Zero CIBIL score. Now we know how to get a loan if the Zero is a CIBIL score.
It is easy for customers with zero CIBIL scores to get a loan through online loans or NBFC applications. Here are you, some famous applications and NBFCs.
- Instant loan
- Hero Fincorp Loan App
- Bajaj
- zip loan
- Insta Money Loan App
- Lending Minister Loan Application
Documents required for Loan with zero CIBIL score
- PAN CARD
- Aadhar card
- Selfie
- Bank statement
- Support OTP for Loan Agreement
Eligibility
- 1. The applicant should be an Indian citizen.
- 2. Minimum monthly income is Rs. Should be 15,000.
- 3. Must be a source of permanent income.
- 4. The minimum age should be 21 years.
The process of application
- 1. Applying for a safe loan.
- 2. Apply with co-applicant.
- 3. Showing all the source of your income.
- 4. Apply for a low loan amount.
- 5. Apply by NBFC or Loan Applications Except for Bank.
- 6. Providing complete information to a financial institution about credit numbness.
Online Application Method
- 1. Install the app from the Google Play Store.
- 2. Enter your base link mobile number in the app.
- 3. Enter the details, documents and bank details required for KYC.
- 4. Get a loan offer and e-sign through support OTP.
- 5. The amount will be transferred to your account after loan approval.
Through this article, you will be knowledgeable about the options for getting a loan despite the zero CIBIL score. This information will prove useful to you and help you meet your financial needs.
Conclusion
It is quite easy to get a Loan with zero CIBIL score that has been made by various methods and organizations nowadays, some banks cannot give you a loan without credit history. There are many apps and NBFC loans. Knowing your required document, criteria in eligibility and applications process, you give a loan even if you do not have a credit score. In this way, it cannot be considered appropriate to take the Zero CIBIL score as if you cannot pay this loan, you may find interest and penalties expensive.
