An effective CIBIL Score is a personal credit history that demonstrates good borrower’s credit history. The newest score ranges between 300 and you can 900. The greater brand new get, ideal is the opportunity to get a personal loan approval. A personal loan having CIBIL Score out of 500 is tough so you can rating. Financial institutions and you may NBFCs prefer CIBIL Get from 750 and you will above so you can approve an unsecured loan. Although not, a number of loan providers could possibly get agree the loan having score from 550, however, during the a higher rate of great interest, charge, and costs.

About less than blog post, we’ll discuss on what a personal loan are, CIBIL Score 550, unsecured loan to own CIBIL Rating from 550, situations accountable for a minimal credit rating, ideas on how to alter your CIBIL Rating, cons off applying for a loan which have lower CIBIL Rating, and Frequently asked questions. Continue reading →