No Cibil Check Loan up to 5Lac. As you have read in the heading, today we will know in detail how to get a loan without CIBIL check.
To get complete information, you have to read the whole blog, then you will understand it well.
What is no cibil check loan ?.
Selling loans without checking CIBIL means that the loan is given without checking your old credit history like your overdue loan or bounced EMI.
Although there is no such bank or non-banking service that provides you loan without checking your CIBIL, but still let me tell you that without checking the credit score, some banks and non-banking services decide to give you a pre-approved loan.
What is pre-approved Loan ?.
Pre-approved loan means when you work in a government institution or a private sector company or pay your previous loan or any loan EMI from time to time, then your credit history with the bank or non-banking services increases. Due to which the financial institution takes an important decision in your favor to sanction you the loan again which can be Rs. 5 lakh or less or more
Documents For No cibil check loan
- Adhar card
- Pan Card
- Bank statement 6 month /1 year
- email id
- mobile number
- passport size photo
You just have to keep these documents ready when you apply for a loan. adhar card,pan card,passort size photo,Banks or non-banking services take this to identify the customer so that they can avoid taking any wrong loan with you in the future.
How work no cibil check loan.
That is, you will get a loan with no credit history when you go to the official website of the bank or non-bank for the loan and the loan application is filled by the customer when he calculates your income and gives his consent to give you the loan. For this.
Due to rising unemployment in India, every person turns towards loans, many people also take loans to avoid tax, the number of institutions giving loans in India is also high. Due to which people do not face any difficulty in taking loans and they get it easily.
How to get 20,000 rupees urgently?
There are many banks and non-banking services available for urgent loan of Rs 20,000 which provide loans for short term if you already have a good relationship. Let me tell you that on a loan of Rs 20,000 you may have to pay at least 14% annual interest rate or more.
Most loan apps provide their services like. Credit sasion,M-pocket,true balance,Incread,etc.
Can I get No Cibil Check Loan ?
Yes you can get a loan without checking credit score
As you can understand from the name itself, loan without CIBIL check means any kind of strict credit check is not required, that is, the loan will be given after looking at your current work and personal income.
Who is eligible No Cibil Check Loan.
- Valid sources of income.
- Guarantor or co-allocated loan.
- Credible financial history.
- Regular income source.
FAQ.
What if my CIBIL score is not good?
Ans.- Don’t panic, you can get a loan. In case you don’t have a CIBIL score, financial institutions may ask for other recognized documents like your income, residence papers, employment documents, identity proof and bank account statements. A credit score generated by a company other than CIBIL can be used. Depending on the eligibility, you may be eligible for a loan.
What should be a good CIBIL score?
Ans.- Your CIBIL score is calculated based on your credit behaviour displayed in the ‘Account’ and ‘Enquiries’ sections of your CIR, which ranges between 300-900. A healthy CIBIL score is 750+
To Check free cibil score click
Read more.
Nice knowledgeble post regarding civil score
Good idea
good idea