How Can I Get a Personal Loan for a CIBIL Score of 600?

Low CIBIL scores diminish our chances of securing a personal loan on our terms by a huge margin. Additionally, the lenders that offer loans to low CIBIL score borrowers quote high interest rates to protect themselves from defaulters. 

However, some lenders cater to the needs of low CIBIL score borrowers, and offer a personal loan for a CIBIL score of 600, as well. 

Personal Loan For CIBIL Score of 600

Are you looking for a personal loan with a CIBIL score of 600? 

In banking standards, a CIBIL score of 600 is deemed un-credit-worthy, and banks avoid loaning to borrowers with such low scores. However, online lenders, such as Moneyview, adopt a unique credit rating model that doesn’t distinguish based on your low CIBIL score. 

If you are frantically searching for a ‘loan for 600 CIBIL score’ or ‘my CIBIL score is 600, can I get a personal loan?’, then this article is the right place to start. 

Here’s everything you need to know about securing a personal loan with a CIBIL score of 600. 

Moneyview Personal Loan for CIBIL Score of 600

One of India’s leading money lenders, Moneyview has become the go-to lender of choice for millions, owing to its affordable loans and instant disbursal rates. 

The digital application process, quick eligibility check, easy EMIs, and instant support are just some of the benefits that Moneyview offers.

Moreover, you can avail up to Rs. 10 lakhs instantly regardless of your score with Moneyview. 

Eligibility Criteria - Personal Loan for CIBIL Score of 600

A Moneyview personal loan comes with simple eligibility criteria to ensure we cater to the needs of the borrowers. Here are the eligibility criteria for a Moneyview personal loan -

• The applicant must be between 21 to 57 years of age

• He/she must be salaried or self-employed

• The borrower should earn a monthly in-hand income of ₹13,500 or more

• They must receive the income directly in a bank account

• A minimum CIBIL Score & Experian Score of 650 is necessary

What Documents Does Moneyview Personal Loans Require?

Our documentation requirements are minimal. All we need is -

• Your PAN number

• A mobile number that is linked to your Aadhaar card for KYC verification

• A clear selfie taken in a well-lit area

Note: The documentation requirements will vary based on your profile. We may require additional documents such as proof of address, bank statement, and other supporting documents depending on your candidature.

For proof of address, you can submit any one of the following documents-

• Aadhaar Card

• Valid Indian Passport

• Valid Voter ID

• Valid Driver’s License

• Utility Bills (Electricity, Water, Gas) dated within the last 60 days

To show proof of income, you can furnish your bank statement for the previous three months. This statement must show your salary credits.

How to Get a Moneyview Loan for a CIBIL Score of 600?

Moneyview offers instant personal loans at affordable interest rates and flexible repayment terms. However, the minimum required CIBIL score to be eligible for Moneyview loans is 650. 

With a CIBIL or Experian score of 650, you can easily secure a Moneyview personal loan by following the below steps. 

• Eligibility Check
  Our eligibility checker on the Moneyview website or the loans app wastes no time in providing you with your personal loan eligibility. Simply provide your details and you will know your eligibility in just 2 minutes!

• Choose your loan plan
  Based on the options given, you will have to select the loan amount and repayment term of your choice

• Provide required documents
  Our loan process is entirely digital for your convenience. You can easily upload all of the necessary documents online for verification in a hassle-free manner.

• 24-hour loan disbursal

After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours

Note -

Additionally, you must enable auto-debit from your bank account. You can complete this quick process using a debit card, net banking, or NACH form.

You won't need to manually process the EMIs every month after enabling the auto-debit facility.

Please make sure the documents on the above list are valid when you submit your loan application. The document requirements will be minimal if you are able to successfully complete the oKYC process during the application flow.

Benefits of Moneyview Loan

Moneyview instant personal loans offer unique benefits as given below -

• You can avail any amount from Rs. 5,000 to Rs. 10,00,000 instantly

• We offer flexible repayment options that can extend up to 5 years

• Find out your eligibility in just 2 minutes with our eligibility checker

• Once your application has been approved, you will receive the loan amount in just a few minutes

• Our unique credit rating model offers customized loan solutions depending on your eligibility

• We provide competitive interest rates at an economical rate of just 1.33% per month (16% Annually*)

• With the application process made completely online, you do not have to leave the comfort of your home to apply and avail the loan

Personal loans for low CIBIL scores are a rare find but not impossible, especially with Moneyview. While Moneyview offers personal loans for low CIBIL score applicants, it is important to improve your score from 600 to 750 to secure a loan of higher amounts and lower interest rates. Until then, you can always apply for an instant personal loan from Moneyview through our website or loans app.