Personal Loan for Low CIBIL Score

Steps to Obtain a Personal loan for Low Credit Score

Check your eligibility

Give us the required details and we will let you know your eligibility in 2 minutes

Choose your loan plan

Based on the options provided, select the loan amount and repayment term of your choice

Upload required documents

Upload all of the necessary documents online for verification

Loan transfer to your bank account

Post verification and submission of loan agreement, the loan amount will be credited to your account within 24 hours

Note -

• After your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to Money View.
• This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for any manual intervention.
• On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly

Why to Choose Personal Loans with Low Credit Score from us

• Our eligibility check takes less than 2 minutes
• After your loan application is approved, the loan amount will be disbursed within 24 hours
• All our application and documentation process is 100% digital
• Avail a loan from anywhere in India without having to travel to banks or to agents

Eligibility Criteria for Money View Loans with Low CIBIL Score

If you are looking for a ‘low CIBIL loan’ or ‘personal loan for low CIBIL score’, you can avail one from Money View as long as you meet the eligibility criteria given below -

• Applicants must be between 21 years and 57 years
• Applicants must receive an income of Rs. 13,500 or more*
• Income must be credited directly to the applicants’ bank account
• Credit score must be a minimum CIBIL score of 600 or minimum Experian score of 650

How to Improve Your CIBIL Score

It’s difficult to obtain a personal loan when you have a low CIBIL score. Even though Money View provides loans to those who have a lower credit score, it is important to improve it.

Here are certain things you can do in order to increase your CIBIL score.

1. Avoid delays in EMI payments and pay the outstanding debt on time. When you miss an EMI payment, you are forced to pay a penalty, and your CIBIL score decreases.
2. Old credit card accounts show a long and strong credit history, therefore it is important to avoid closing it. If you do not have other long-standing good credit accounts, your score will drop as credit history is also a factor determining your credit score.
3. Always choose comfortable tenures to repay your loan. That way you’ll be able to pay the EMIs on time. When you don’t delay EMI payments, your CIBIL score will increase gradually.
4. Make sure you have minimal loans during a fixed period. When you keep applying for credit again and again in a short period of time, the number of credit inquiries against you increases, thereby pulling down your credit score.
5. Check your CIBIL report thoroughly from time to time and correct mistakes if any.

Once you’ve understood and implemented the points mentioned above, you can confidently apply for a loan again. A lesser-known fact is that with a higher CIBIL score you may always approach your lender to reduce the interest rates. Yes, that’s a possibility! Ensure that your EMI payments are made on time and reap the benefits of a higher CIBIL score.

In Conclusion

Getting a loan for low CIBIL score applicants is no longer a distant dream. You can now avail personal loans from Money View at competitive rates, minimal documentation, and other advantages as long as you have a CIBIL score of over 600. Visit the Money View website or download the app and apply now!