Personal Loan

How Can You Get Personal Loan Without Cibil Score?


When a borrower applies for a personal loan, the lender normally first looks at their CIBIL score. A strong CIBIL score helps borrowers meet eligibility standards even when they apply for personal loans. Anyone looking for financial assistance should pay close attention to their CIBIL score. The CIBIL score improves a person’s creditworthiness when applying for an unsecured personal loan. However, you can now apply for a personal loan without a CIBIL rating. Additionally, an increasing number of financial institutions are launching new promotions and deals. As a result, you may focus on your needs and take advantage of the best offers to obtain a personal loan without CIBIL.

What is the CIBIL Score?

To determine whether a potential borrower is qualified for any loan without collateral, a CIBIL check is conducted. A three-digit numerical summary is the credit score, also known as the CIBIL score. It demonstrates the creditworthiness of the individual or business. This rating is controlled by The Credit Information Bureau (India) Limited (CIBIL). It is used to determine a borrower’s ability to make complete and timely loan repayments. All banks and financial institutions provide credit information to CIBIL for use in establishing this score. Borrowers may still be approved for a personal loan even if they apply without producing CIBIL or income proof like paychecks. So, is getting personal loans with a CIBIL score possible?

What Does It Mean to Have No or Low CIBIL Score?

Any CIBIL score below 750 is considered to be low. For the lender, personal loans without CIBIL represent a higher risk. This is because they are unsecured loans that do not require collateral. However, a good credit score affirms a person’s reliability by demonstrating a history of on-time payments. This does not imply that not having a CIBIL score makes it difficult to obtain a long- or short-term loan. Even if you have a poor CIBIL score and no credit history, no income evidence, or both, you can still apply for a loan. Given below are some options to consider.

How to Get a Personal Loan Without a CIBIL Score Immediately

Your CIBIL score is one of the considerations evaluated when you apply for a personal loan. For your loan to be authorised, your CIBIL score must be 750 or higher.

Despite your low CIBIL score, the lender may still approve your loan but might charge a higher interest rate. We will look at a few methods for getting a personal loan without CIBIL while having a poor CIBIL score.

Decide on collateral-based loans

Generally speaking, personal loans without CIBIL do not require security or collateral, but this is only true if you have a strong credit score. On the other hand, if you have a negative credit score or none at all, you will need to provide security for a personal loan with a low CIBIL score. Any of your priceless possessions could be utilized as loan collateral. You’ll find it easier to apply for a loan from any lender if you do this.

Show that you are creditworthy

A creditworthy borrower is always necessary for the lender to approve a loan application. If you have a steady source of income, you can easily get a personal loan even with a poor CIBIL score. Even if you have a bad credit score or none at all, presenting your pay stubs or bank statements as proof of your income is acceptable. This will prove to the lenders that you are capable of paying back loans on schedule.

Get a loan guarantor

If you apply with a guarantor or a co-applicant, your chances of receiving a personal loan without CIBIL authorization will increase. However, if the guarantor is a relative, make sure they are aware of your intention to apply for a personal loan without providing a credit report and that they have a steady source of income. For the application to be approved, the co-applicant must finish the KYC procedure. Lenders will evaluate your credit history or bank statements and will approve the loan application if the co-applicant meets the conditions.

Request a smaller loan amount

If your CIBIL score is low, do not ask for a bigger amount loan. The lender might not approve it because questions could arise about your creditworthiness. Since the interest rates will be lower, it is advisable to apply for a lower personal loan amount. Your chances of getting the loan approved will therefore increase.

Request a NA or NH on your credit report from your lender

No History (NH) or History Not Available (NA) will appear on your credit report if you have not used credit in the last 36 months. You can discuss your inactive credit with your lender in such cases. The lender will take your situation into account. They may offer you a personal loan with a slightly higher interest rate than one that requires CIBIL.

Check the credit report

It is always advisable to verify your credit report because there may be mistakes. Your credit score may be directly impacted by such mistakes. Therefore, make sure to regularly check your CIBIL score and repair any problems as soon as you notice them. Such inaccuracies can be reported to CIBIL as a dispute. As a result, your CIBIl score will rise. Thus, you will be qualified for a personal loan.

Some borrowers may lose out on getting loans. This will happen if the CIBIL makes inaccurate updates to its database. You must frequently monitor your credit record. Also, maintain a high CIBIL score by making repayments on schedule.


A personal loan does not necessarily have to be impossible to obtain even without a CIBIL score. Borrowers have several possibilities for obtaining a loan without a CIBIL score because of the large number of plans and offers that are currently accessible on the market. Therefore, take your time and shop around to locate the finest choice if you are seeking a loan without providing income documentation or a CIBIL score. For more information or details, check out Piramal Finance.