POOR CIBIL SCORE? YOU CAN STILL SECURE A PERSONAL LOAN

Cibil score vs loan

Securing a personal loan with a poor CIBIL score can be challenging, but it's not impossible. Here are key tips to improve your chances.

Know your report

Check your credit report for factors affecting your low CIBIL score. Rectify errors promptly by by notifying credit bureau.

Research Lenders

Explore lenders catering to low credit scores. Online platforms and credit unions often offer more flexibility in loan criteria.

Collateral or co-signer

Secure the loan by offering collateral like property. Alternatively, seek a co- signer with a higher credit score willing to guarantee the loan.

Show stable income

Reassure lenders with stable income proof like employment details and salary slips. Displaying consistent income improves loan approval chances.

Negotiate with lenders

Open communication with lenders, explaining poor credit circumstances. Negotiate terms, including interest rates and repayment schedules, for better terms.2.