Personal Loan

How to Get an Instant Personal Loan Without CIBlL & Income Proof?


When faced with a sudden financial need, both salaried & self-employed workers can apply for a personal loan. Yet, getting an instant personal loan without a CIBIL score may be difficult. The CIBIL is the very first element that lenders consider. While applying for a personal loan without pay evidence or a salary slip, a high CIBIL score may also be utilized to fulfil the qualifying condition. Credit Rating is crucial for anybody asking for financial help. The CIBIL score tells a person’s credit, which is especially vital when applying for a bank loan, a type of unsecured loan. 

On the other hand, lenders verify the monthly revenue flow and, thus, the sources of income stated. Continue reading to learn how to apply for a bank loan without a CIBIL or evidence of income.

What Exactly Is a Credit Score?

A credit score is a measure of a person’s credit computed based on a study of financial history. Your credit score serves as a statistic for lenders, card issuers, and banks to assess the risk these incur when lending you money.

Although the word has been around for a long time, most people who apply for fast unsecured loans hear it for the first time when they are rejected. The issue then becomes, “How can I secure a loan without a credit score?”

People who get instant personal loan for the first time may be credit-worthy. Yet, because no previous records of the borrowing history exist, the credit rating would be low or non-existent. As a result, getting immediate personal loans is difficult, but not hard. 

Ways to Get an Instant Personal Loan Without a CIBIL & Income Proof?

Let’s talk about some ways you may use to get instant personal loan without a CIBIL and income proof.

  • Choose loans with collateral

If you have a high credit score, personal loans are often based on assets and do not need collateral. You will be required to offer security for a personal loan if you have a bad credit score or none. Any of your priceless possessions might be utilized as loan collateral. You will find it simpler to get a loan from the selected lender.

  • Find a Guarantor for a Loan

Your chances of being approved to get instant personal loan rise if you apply with merely a co-applicant or guarantor. However, check to see whether the guarantor has a consistent source of income, and if your co-applicant is a relative, make sure they are aware of your intentions to get an immediate personal loan.

To apply successfully, the co-applicant must complete the KYC process. If the co-applicant meets the requirements, the lenders will evaluate your loan application using your bank records and credit history and will likely approve it.

  • Choose The Joint Loan

You may apply for a shared loan without providing income documentation or a CIBIL report if the partner has a high CIBIL score. Both applicants’ CIBIL ratings are considered when applying for the joint loan. Borrowing under your husband’s or wife’s name is an additional option for obtaining the loan without a credit score.

  • Seek For a Reduced Loan Amount.

Avoid requesting a greater loan if your CIBIL score is low since the lender can refuse your request because they doubt your credibility. Therefore, applying for a smaller personal loan is best because the interest rates will be lower. Your likelihood of getting the loan approved will increase as a result. This serves as a trigger for vastly lowering your lender’s risk. In other words, a lender may feel more at ease granting your loan without a CIBIL score because you are now asking for a lower sum.

  • Find the Best Online Instant Personal Loan

Before asking for fast lenders, it is vital to conduct extensive research for personal loan providers who meet your needs. As personal loan interest rates might be quite high, carefully examine your lender’s conditions. Getting an instant personal loan online is simple. 

  • Choosing a Lender with Easy Eligibility Criteria

If you are fit to get instant personal loan, it should be as simple as possible. As a result, selecting a lender with simple terms and conditions and eligibility factors will make the process easier.

How Can You Raise Your Credit Score?

Here’s how to raise your credit score in India:

  • The credit usage ratio is low

If you pay more than 30% of your line of credit, your credit score will suffer. As a result, keep an eye on your credit usage ratio.

  • Create a solid credit history

The longer your credit profile, the higher your credit score, given you have paid all of your bills on time. It is also advised not to terminate old credit card accounts to extend your credit history.

  • Avoid requesting fresh credit

Applying for many credit cards and loans in a short amount of time is not a good idea. Only apply for fresh credit if you truly need it.

  • Pay your bills on time

Missing a payment deadline will negatively influence your credit score; thus, it is essential to create payment reminders to prevent late payment fines and a decline in your CIBIL score.


In a nutshell, to get instant personal loan without CIBIL is possible. Before accepting a loan, banks analyze the credit rating, but it is not the only reason for accepting or rejecting a loan application. Banks may evaluate a borrower’s creditworthiness based on various factors such as income source and stability. 

You may also explain to bank officials why you have no credit history. However, you need to keep a good credit score to get hassle-free financial aid from the bank when needed.

To know more about personal loan EMIs, visit Piramal Finance for related blogs and explore their products and services.