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

The importance of having a high CIBIL score cannot be understated. Not only do you need a score of over 750 to apply for and get loans, the rate of interest applicable, repayment term, etc. will be determined based on your CIBIL score.

If you wish to avail loans of any kind, then you must ensure that your credit score is high. A credit score is similar to your exam scores. If you have a high score, you can get into the university and course of your choice. Similarly, if your credit score is high, you can get any loan of your choice at favorable terms.

This is because a high CIBIL score is an indicator of your repayment ability and creditworthiness. 

However, not everyone will be able to maintain a high credit score. Defaulting on EMIs, holding multiple loans at the same time, are some of the factors that contribute to low credit scores. But you may still need a loan with these low scores. For eg. what if you need a personal loan for CIBIL score of 600?

Personal Loan for CIBIL Score of 600

If your questions are ‘loan for 600 CIBIL score’ or ‘my CIBIL score is 600, can I get a personal loan?’ then you have come to the right place.

Personal loans are unsecured loans where the interest rates tend to be on the higher side and the eligibility criteria is stricter as compared to other secured loans such as gold loans or home loans. But these loans are versatile as they can be used for any purpose.

This is why most personal loan providers make it mandatory for borrowers to have a CIBIL score of 750 or more. However, there are a few lenders such as Money View that provide personal loans to applicants as long as their score is 600 or above.

Money View Personal Loan for CIBIL Score of 600

Is your CIBIL score low? While this is not an ideal situation, you can still get a personal loan from Money View with this score. The main eligibility condition being that your CIBIL score is 600 or above.

The best part? Not only are our personal loans easy to avail, you can get the amount within 24 hours of application approval.

You can also use this loan to increase your credit score through regular EMIs payments.

Eligibility Criteria - Personal Loan for CIBIL Score of 600

Here is the eligibility criteria for a Money View personal loan -

Given below is a city-wise breakdown of the income and credit score requirement -

Income and Credit Score Eligibility Criteria


Salaried Individuals

Minimum In-Hand Income

Area of Residence

CIBIL Credit Score Requirement

Rs 13,500

Any

CIBIL Score of 600 /Experian Score of 650 and above

Rs 20,000

Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.)

New to Credit or

CIBIL Score of 600 /Experian Score of 650 and above

Rs 15,000

Metro City other than Mumbai and NCR

CIBIL Score of 600 /Experian Score of 650 and above

Self-Employed Individuals

Rs. 15,000

Any

CIBIL Score of 600 /Experian Score of 650 and above


How to Get a Money View Loan for CIBIL Score of 600

Getting a personal loan from Money View is incredibly easy. All you need to do is follow the steps given below -

Note -

Click here to know more about our personal loans and apply.

However, while you can get loan for 600 CIBIL score, it is always advisable to have a score of over 750 for the following reasons -

But if your credit score is low, how can you increase it? 

We understand your concern which is why we have put together some steps below for you to take that will help you increase your CIBIL score.

How Can You Improve Your CIBIL Score from 600 to 750

Given below are some expert recommendations on how to improve your credit score -

For more in-depth tips on how to improve your credit score, check out this article.

Having a good credit score is not easy but unless you do, getting a loan will not be easy. You can get a personal loan for a CIBIL score of 600 but the amount will not be very high and the interest rates will be quite exorbitant.

Therefore, it is important to work on building your credit score. If you do get a loan with a low CIBIL score, use the loan to get your score up by repaying on time.

Money View offers personal loans for CIBIL scores of 600 and above. Visit the website or download the app to apply now.

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