Not many have the privilege of being able to take loans from banks without any problem.
For the past years, due to the devastating effects of Covid-19, apart from many having lost their loved ones (may their souls rest in peace), uncountable businesses fall apart, while very few manage to rise up again, many end up with a huge pile of debts.
This in turn gives a great blow to your bank account with bounced cheques and EMIs which ultimately lower your Cibil score.
Cheer up, there are options for you to take loan with low credit score.
If you are rejected by traditional banks and are searching for a loan with a low cibil score, you can take loans from these lenders with minimal documents.
You can also take from multiple loan providers provided you met their eligibility criteria.
Loan With Low Cibil
#1. QuickCredit
QuickCredit is an online lending FinTech platform in India that provides borrowers instant, flexible cash loans within a few hours.
You can take cash loans starting from ₹10,000 to ₹1,00,000 at an interest rate of 1% for a period of 30 days.
As you repay, your trust score within the QuickCredit App increases simultaneously and your loan amount will increase but the loan term is fixed for 30 days.
You can however extend it by contacting your loan manager who will be assigned to you as soon as you register.
Eligibility For Quick Credit Loan
- You must be over 21 years of age.
- An Indian resident.
- Earning (either salaried or self-employed).
Documents Required For QuickCredit Loan
- Proof of ID (POI): Company ID or Pan Card
- Proof of Address (POA): Passport or Aadhaar Card or Driving License or Voter ID
- Latest Salary Slip
- Bank Account Statement for the last six months.
For more details, here is my QuickCredit Review.
#2. CASHe
CASHe is a Fintech company unsecured personal loans online to salaried individuals across India.
You can avail instant loan ranging from ₹9,000 to ₹3,00,000 according to your eligibility at 2.25% to 3% per month for a period of 3 months to one year.
Eligibility For CASHe Loan
- Any Indian resident above the age of 18.
- Having proof of current employment.
- Monthly earning of ₹15,000 or more.
- A Bank account.
- Having a Facebook/Google+/LinkedIn account.
- Having a valid identity and address proof.
Documents Required For CASHe Loan
- PAN Card
- Aadhar Card
- Salary Slip
- Bank Statement
For more details, check out my CASHe Loan App Review here.
#3. mPocket
mPocket is an instant online loan provider for students and young professionals.
You can take mPocket loan starting from ₹10,00 to ₹30,000 according to your profile at an interest rate of 3.5% per month for a period of 60 days.
Eligibility For Applying Loan At mPocket
- Must be an Indian citizen.
- You must be above 18 years of age.
- Have a valid student ID, Company ID.
Check Your Eligibility For mPocket Loan Here.
Documents Needed For Applying Loan At mPocket
- ID proof: PAN Card
- Student ID Card
- Address proof: Aadhaar Card
Read mPocket Review for more details.
#4. True Balance
True Balance offers credit lines in partnership with banks and NBFCs which are RBI registered.
You can take cash loans ranging from ₹ 7,000 to ₹50,000 depending on the credit limit you are eligible for at an interest of 5% per month for a period of 3 months.
Eligibility For TrueBalance Loan
- An Indian resident
- Salaried Individual
- Age over 21 years.
Documents Required For TrueBalance Loan
- PAN card
- Aadhar Card
- Bank Statement.
Read TrueBalance Review for more details.
#5. KREDITBEE
KreditBee is a mobile and web-based financial platform that allows you to avail instant personal loans hassle-free.
You can avail personal loan starting from ₹1,000 to ₹2,00,000 at an interest rate of 1% per month for a period of 2 to 15 months.
Eligibility For Applying Loan At KreditBee
- Indian Citizen.
- You must be above 21 years.
- Your net monthly salary must be at least ₹10,000.
- Your Aadhaar Card must be linked to your mobile number.
Documents Needed For Applying Loan At KreditBee
- ID proof: PAN Card
- Income proof: Bank statement/Salary slip
- Address proof: Aadhaar Card, Passport
- Proof of Employment
Read KreditBee Review for more details.
#6. Upwards
Upwards is an RBI registered NBFC which provide salaried individuals.
Eligibility For Upwards Loan
- An Indian Resident.
- Over 21 years of age
- Salaried (Employed at a current company for at least 6/12 months).
Documents Required For Applying At Upwards
- PAN Card
- Aadhaar Card
- Salary Slips of last 3-6 months
- Bank Statement of last 6-12 months
- Proof of current address (phone bill, electricity bill, etc.)
#7. CapitalNow
CapitalNow is powered by Outside Capital Private Limited and Anu Colonisers Limited, an RBI registered NBFC.
You will be assigned a loan manager who will help you out.
You can take cash loan from CapitalNow ranging from ₹2,000 to ₹1,00,000 at an interest rate of 3% per month for a period of 65 to 90 days.
Eligibility For Applying Loan At CapitalNow
- Must be an Indian citizen.
- You must be above 22 years of age.
- Minimum salary of ₹30,000 per month.
Check Your Eligibility For CapitalNow Loans
Documents Needed For Applying Loan At CapitalNow
- ID proof: PAN Card
- Proof of employment/ Salary Slip
- Address proof: Aadhaar Card
- Bank Statement
Read my Review On CapitalNow Loan here.
#8. NIRA
NIRA is a personal loan app that partners with various RBI-regulated NBFCs and Banks that gives instant personal loans to salaried individuals.
You can take personal loan of up to ₹1,00,000 at an interest rate of 24% per annum for a period of 3 to 24 months.
Eligibility For Applying Loan At NIRA
- Must be an Indian citizen.
- You must be between 22 – 59 years of age.
- Your minimum monthly salary must be at least ₹12,000.
Document Required For NIRA Loan
- ID proof: PAN Card
- Income proof: Bank statement/Salary slip
- Address proof: Aadhaar Card
Read NIRA Loan Review here for more details.
#9. CashBean
CashBean is an Instant Personal Loan Platform powered by P C Financial Services Private Limited, RBI registered NBFC.
You can take instant loan starting from ₹1,500 to ₹60,000, the amount increases according to your repayment history at an interest rate of 33% per annum for a period of 15 days.
Eligibility For CashBean Loan
- You must be an Indian Resident.
- You must be 21-56 years old.
- You must have a source of monthly income.
Documents Needed For CashBean Loan
- PAN Card.
- Aadhaar Card.
- Salary Slip.
- Bank Statement.
For more details, check my CashBean Review here.
#10. Early Salary
EarlySalary is one of the lending platforms that give lines of credit to salaried individuals.
You can avail yourself the different types of loans ranging from ₹5,000 to ₹5,00,000 at an interest rate of 2.5% per month for a period of 3 to 6 months.
Eligibility To Apply Loan At Early Salary
- Must be a resident of India.
- Must be above 21 years and below 55 years of age.
- Salaried individuals with a minimum salary of ₹18,000 (Metro Cities) and ₹15,000 (Non-metros).
Documents Needed To Apply For Early Salary Loan
- Address Proof (acceptable documents – Aadhaar, Passport, Driving Licence, Voter Id, Utility Bills (Landline, Postpaid Mobile, Electricity, Gas)
2. Identity Proof (acceptable documents – Aadhar, PAN, Passport, Driving Licence, Voter Id).
3. Latest Photograph
4. PAN Card. - Bank Statement/ Access to bank account details
For more detail, read the full Early Salary Review Here
Use the coupon code ” zyi6xheyeg ” and get ₹200.
#11. Dhani Loans
Dhani, previously known as IndiaBulls Dhani the first-of-its-kind application by Indiabulls Consumer Finance.
You can take loans and lines of credit from Dhani ranging from ₹1,000 to ₹15,00,000 at an interest rate of 1% to 3.17% per month for a period of 3 to 36 months.
Eligibility For Dhani Loans
- You should be a Citizen of India
- You should be at least 21 years of age
- You should be a salaried professional or a self-employed entrepreneur.
Documents Needed For Applying for Loan At Dhani
- PAN Card Details
- Aadhar Card (Address Proof)
- Bank Details
Read my honest Review On Dhani Loans here.
To avail attractive offers, you can usethis code “0004913372”
#12. RupeeRedee
RupeeRedee gives short-term Personal Loans via website & mobile app for both Salaried and Self-employed customers.
You can take quick loan ranging from ₹5,000 to ₹25,000 at an interest rate of 0.20% per day for a period of 7 to 30 days.
Eligibility For RupeeRedee Loan
- Any individual aged between 18 – 65 years.
- Having a monthly income of a minimum ₹15,000 through any authentic source.
Documents Needed For Applying Loan At RupeeRedee
- Address Proof (acceptable documents – Aadhaar, Passport, Driving Licence, Voter Id, Utility Bills (Landline, Postpaid Mobile, Electricity, Gas)
- Identity Proof (acceptable documents – Aadhar, PAN, Passport, Driving Licence, Voter Id).
- Latest Photograph
- PAN Card.
- Bank Statement/ Access to bank account details.
Read RupeeRedee Review For For Details.
#13. IndiaLends
IndiaLends doesn’t lend or provide loans directly but this wonderful online platform provides customers with financial products and services such as personal loans, unsecured loans, installment loans, and credit cards.
It basically connects borrowers with lenders to help them get the best deal possible.
You can avail all kinds of personal loans from IndiaLends starting from ₹15,000 to ₹50,00,000 at an interest rate between 10.75% to 35% per annum for a period of 12 to 60 months.
Eligibility for IndiaLends Loans
- Salaried (Employed at the current company for at least 6/12 months).
- Self-Employed professionals (Business tenure of at least 3 years and ITR of last 3 years)
- With salary of ₹15,000 (non-metro cities) ₹20,000 ( metro cities).
Check Your Eligibility For IndiaLends Loans Here
Documents Needed For Applying Loan At IndiaLends
For Salaried Individuals
- Identity & Age Proof
- Completely filled personal loan application with photograph
- PAN Card
- Residence proof – Passport driving license, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
- Bank statements for the last 3 months(preferably your salary account)
- Salary Slips of last 3 months
- Form 16 or Income Tax Returns of last 3 years.
For Self-Employed Individuals
- Identity & Age Proof
- Completely filled personal loan application with photograph
- PAN Card
- Residence proof – Passport driving license, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
- Bank statements for the last 3 months(preferably your salary account)
- Salary Slips of last 3 months
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Read IndiaLends Review Here For More Details.
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