Best NBFC Business Loan For Bad Cibil, most of the people search on Google are those whose CIBIL score is bad and who need money, but are unable to arrange the money. Then don’t worry, we will tell you how you can expand your business by taking a loan and this method will work 100% easly.
How much CIBIL score required for NBFC business loan
CIBIL score is a 3 digit number which indicates your loan worthiness and tells how capable you are to repay the loan EMI and how much the NBFCs and banks can trust you. This score ranges from 300 to 900, 300 being the very poor/very bad score and 900 being the best score for NBFc Business Loan. required cibil score is 650+
How to avoid bad CIBIL score
To avoid a bad CIBIL, first of all you should pay your current loan EMI on time, if it bounces then deposit it with penalty, never get any loan settlement done, save your loan account from becoming NPA so that in future you do not have to face any problem while taking a loan.
Your banking relationship and impact of account transactions
When we plan to take NBFC Business Loan, the account transactions do not come to our mind but it plays an important role in loan approval. In the NBFCs, it is very important to have an average bank balance and the sustainability of the money in your account is as important as CIBIL score. It is also checked whether the previous loans (exa.- home loan, personal loan, credit card, consumer durable loan etc.) are being paid on time from the account or not. Therefore, it is important to always maintain an average balance of at least Rs 10,000 per month in your account so that your loan does not rejected.
Top 5 NBFc Business loan with cibil range
By the way there are many NBFCs that provide loans on low CIBIL score, but we are telling you about 5 important NBFCs from where you can apply for a loan from your mobile.
1. Protium- Loan up to 35 lakh required cibil 650+, Click to apply
2. Aditya Birla Capital- Loan up to 10 lakh required cibil 650+, Click to apply
3. Tata Capital- Loan up to 35 lakh required cibil 675+, Click to apply
4. SMFG India Credit- Loan up to 40 lakh required cibil 650+, Click to apply
5. Prefr- Loan up to 5 lakh required cibil 675+, Click to apply
Here all 5 NBFc business loan apply link attched for direct apply, if you apply for this loan please carry KYC document’s then apply one time otherwise no click at this link. if you want check cibil score or full guide then Click
Required Document’s
Here all your Business loan related document’s list please read carefully.
| Business Loan |
| KYC | Address Proof | Income Proof | ||
| Applicant and co-app | Applicant and co-app | If Self Employed | ||
| Adhar card | Adhar card / Voter id / D.L. / Ration card | ITR Last 3 year with COI,P.L., B.L. | ||
| Pan card | Passpoert / Birth Certificate / Property paper | GST Certificate with 1 year return | ||
| Passport size photo | Any other government document | Last 1 year bank statement Current A/C | ||
| Last 1 year bank statement saving A/C | ||||
| Any other loan statement ( SOA) | ||||
| Shop Address proof are Required | ||||
Things to keep in mind while applying for a loan
No matter what type of loan you are taking, first of all keep information about the stability of your income, tell the bank about paying EMI according to your capacity, do not let the EMI of your previous loan remain overdue, no cheque should bounce, even if it has bounced, you should have a valid proof of cheque bounce, take care of the money saved from your business or job, you should take special care of some such things for NBFC Business loan taking time.