Loan Companies For Poor Credit Score: Even if your credit score is low (300 to 600) you can still easily avail of a loan if you are eligible. Amazingly, you do not need to provide any guarantee or security for this.
It is almost impossible to get a loan from the bank without a guarantee of a low CIBIL score. Many NBFCs ( loan apps ) give you loans on your low CIBIL score. Just make sure that your CIBIL score does not go down because of any loan.
Loan Companies For Poor Credit | Companies that provide loans on low credit score
| Loan app name | Rating (Play Store) | Review (with consumer name) |
|---|---|---|
| Bajaj Finance app | 4.1 | “Very easy process.” – Mohit |
| Poonawala Loan App | 4.0 | “Got a good loan in a short time.” – Sunil |
| Branch Loan App | 4.3 | “The process is very fast.” – Rajneesh |
| Payrupik Loan App | 4.0 | “The support team is really helpful.” – Aditi |
| Smartcoin (Olyv) loan app | 4.2 | “Got great support from customer care.” – Neeraj |
| Amazon Pay Later Loan | 4.5 | “Very good financing option.” – Priyanka |
| Fibe Loan App | 4.0 | “Got instant loan, process was easy.” – Vijay |
| Finnable Loan App | 4.2 | “The loan was processed in a short time.” – Nishant |
| Kreditbee Loan App | 4.4 | “Good loan with low interest rate.” – Saurabh |
| Nira Loan App | 4.3 | “Fast and easy process.” – Karan |
| Navi Loan App | 4.1 | “Attentive service and good facilities.” – Manish |
| Truebalance Loan App | 4.0 | “Clean and simple interface.” – Aman |
| Stashfin Loan App | 4.2 | “Simple and straightforward process.” – Rahul |
| Snapmint Loan App | 4.5 | “Very good experience.” – Anup |
| Mobikwik Zip Loan App | 4.3 | “A good option for instant loans.” – Rachana |
| CASHe Loan App | 4.0 | “Got loan approval quickly.” – Anshul |
| Hero Fincorp Loan App | 4.1 | “Great customer service.” – Nisha |
| Credit Loan App | 4.2 | “Quick and easy loan process.” – Himanshu |
| Kreditzy Loan App | 4.0 | “The service is very fast.” – Vikas |
You will get this information about these apps in a summary form, so that you can get an idea of their ratings and reviews, but please, despite the ratings, you should use these loan apps at your discretion.
| Instant loan of Rs 40,000 | Bajaj Finance Personal Loan: Get ₹30,000 to ₹ 50 Lakh loan without Income proof |
| loan on Aadhar card | Get an urgent loan of up to Rs 5 lakh from home with Aadhar Card Loan App
|
| Loan apps with 15-day payout |
Eligibility for a company giving loans on low credit score
Friends, let’s see if you are thinking of taking a loan on your low credit score from these loan apps, then what should be your eligibility so that you can take a safe loan here –
- Indians get loans here
- Age 18 to 59
- A mobile number linked with Aadhaar will be required
- Your credit score should not go down due to any loan
- It is necessary to have a source of monthly income
- You will need a smartphone and internet to apply.
- You will need a savings account
- You will have to give NACH approval here, you will need internet banking or a debit card
Documents
- PAN card
- Aadhar card
- Online Selfie
- Aadhaar OTP so that you can sign the loan agreement online
- Here, if you get a big loan offer for a bad credit score loan, then you may also have to provide a bank statement of your income
Interest & Fees
- Interest – To take a loan without a credit score from these loan apps, you will have to pay annual interest ranging from 25% to 36%
- Processing – A processing fee of up to 5% may be charged to process the loan. If the loan is large then the maximum amount can be around Rs 10,000
- Penalty – If you do not repay the loan on time, you will have to pay a penalty
- Additional Charges – Friends, here you will not have to pay any additional charges to get a loan with low CIBIL like a joining fee, annual fee, or any kind of payment before the loan,
- GST – Here you will have to pay 18% GST on all expenses incurred in availing of the loan
Apply for a loan from a company that provides loans for low credit score
Let us now understand what steps you will need to take online to get a loan from these companies (loan apps) that provide loans on low credit,
- Install these loan apps on your phone from the Play Store or App Store
- Create an account using your mobile number linked to your Aadhaar
- Now you will need to do KYC, for which you will need to provide complete information, documents, online selfie, and bank details
- If you are eligible for a loan on your low credit score, you will get a loan offer.
- To avail of this loan offer, you have to sign the loan agreement online with the help of Aadhaar OTP
- Here you will also need to give NACH approval for which you will need internet banking or a debit card
- Now after approval, your loan comes directly into your account.
- You should pay your loan on time so that your credit score increases and you can get a loan easily.
Friends, these are the necessary qualifications based on which you can take a loan from these loan-providing companies online from your phone whenever you need money,
Keep in mind that this loan is a little expensive, so whenever you take a loan, do it with discretion. Keep in mind that you get this loan on your low CIBIL and not on your bad CIBIL.
Disclaimer
This blog is completely free for all readers, ipogmp.net does not claim to get you a loan in any way, on this blog you are only given information related to the loan, so with the information, you can apply for a loan with your understanding!!