There are certain conditions that prevent individuals from availing a personal loan easily and one of them is having a low credit score or if the applicant is a CIBIL defaulter
A CIBIL defaulter is an individual who has not repaid his/her loan installments. This has a detrimental impact on the borrower’s CIBIL score and makes it extremely hard for them to avail another loan or credit card in the future.
While the term ‘CIBIL defaulter’ is neither used generally nor is there an official list of ‘CIBIL defaulters’, it can refer to those that have CIBIL scores of less than 600.
So where can we avail an online loan for CIBIL defaulters from?
One of the top personal loan providers in the country, moneyview offers affordable personal loans to all individuals within India, including those with a relatively low credit score.
Not only are these loans easy to avail but require minimal documentation, and are provided within 24 hours of loan application approval.
More importantly, moneyview uses a unique in-house credit rating model to assess one's creditworthiness. Therefore, even those with relatively lower credit scores can apply for a moneyview personal loan for CIBIL defaulters. However, the minimum CIBIL score necessary is 650.
To know more about moneyview personal loans, click here.
There are multiple steps one can take to build up a good credit score. Past payments, as well as credit history, have a significant role. Some of the steps that can be taken to maintain a high credit score are as follows:
As mentioned previously, an official CIBIL defaulter’s list does not exist. However, the only way to ensure that one is no longer considered to be a ‘CIBIL defaulter’ is to -
Maintaining a good credit score is essential to avail loans, both secured and unsecured, easily. Whether one is a personal loan defaulter for a few months or a personal loan defaulter for 10 years, building back credit is essential. This also applies to other loans as well. Loan defaulters can avail loans through various means and in the meantime can focus on improving their credit score. If you are looking for an online loan for CIBIL defaulters then visit the moneyview website or download the loan app and apply now!
Yes, anyone with a low CIBIL score can also get a loan, but it will be more difficult for them to get it sanctioned.
There are multiple ways to get a loan if your CIBIL score is low. You can ask someone with a higher credit score to co-sign or be a guarantor for your loan. You can look for collateral loans, or avail a loan at a higher rate of interest.
It is not possible to get a personal loan without CIBIL verification. But if you have a low CIBIL score, you can get a small starter loan from any lender. moneyview offers loans from Rs.5,000/- for people who are new to credit.
There is no such thing as a defaulter list. You can easily get a personal loan from any lender with a CIBIL score of 765. The minimum CIBIL score requirement for getting a moneyview personal loan is just 600.
There is no such list as a defaulter list or a negative list. If your CIBIL score is low, you can always work on improving it by making timely payments on your loans.
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