Personal loan overview
Personal Loan for Low CIBIL Score.
Below 650, banks mostly step back — but a smaller set of NBFCs and fintech lenders still approve loans, typically for smaller amounts at meaningfully higher rates.
- Principal amount
- ₹1,50,000
- Total interest
- ₹40,344
- Total amount
- ₹1,90,344
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹66,134 | ₹29,038 | ₹83,865 |
| 2 | ₹83,865 | ₹11,296 | ₹0 |
What lenders look at beyond the score
Many NBFCs now weigh bank statement cash flow, salary credit consistency, employer stability, and your current FOIR alongside the CIBIL score itself — a steady salary crediting on the same date for 12+ months can meaningfully improve your approval odds even with a sub-600 score, especially for smaller loan amounts.
Frequently asked questions
Can I get a personal loan with a CIBIL score below 650?
It's difficult through traditional banks, but a small set of NBFCs and fintech lenders approve loans in the 550-600 range, typically for smaller amounts (often under ₹2 lakh) and at meaningfully higher rates — usually 18-36% p.a., compared to 10-16% at banks for good-credit borrowers.
What do lenders check besides my CIBIL score for a low-score application?
Many NBFCs now weigh your bank statement cash flow, salary credit consistency, employer stability, and current FOIR alongside the score itself — a steady salary crediting on the same date for 12+ months can meaningfully improve approval odds even with a sub-600 score.
How can I improve my chances beyond just waiting for my score to recover?
Applying with a co-applicant or guarantor who has a strong score and income, offering collateral (turning it into a secured loan against gold, property, or an FD), or starting with a smaller amount you can comfortably repay all improve approval odds and can help rebuild your score for future borrowing.
Is it worth paying a much higher rate just to get approved?
Only if the need is genuinely urgent and unavoidable — at 18-36% p.a., the interest cost adds up fast. If the need can wait even a few months, focus on paying down existing EMIs and clearing any overdue accounts first, since both directly and quickly improve your score and your negotiating position.