How to Get Personal Loan Without CIBIL Score

Many people struggle to get a loan without a CIBIL Score, and it becomes quite a hassle. If you’re someone who is looking for a personal loan without a CIBIL score, you’re not alone. Nearly all those who have never taken out a loan before are in the same boat. But what if that could change? Here at My Mudra, we offer a personal loan without CIBIL score.

In this article, we’re going to dive into how to get personal loan without CIBIL score. So, read till the end to understand in detail.

What is CIBIL Score?

Let’s begin with understanding what a CIBIL Score is. CIBIL Limited keeps credit files on 600 million people and 32 million enterprises.

Your CIBIL score is a three-digit number that summarises your credit history, rating, and report. It can be anywhere from 300 to 900. The closer your score is to 900, the better your credit is. The CIBIL score is very important when you apply for a loan.

Before lending someone a loan, a bank or other financial institution looks at their CIBIL score and reports first. If the CIBIL score is high, the lender will consider the application and inspect the other details to see if the person is creditworthy.

Can You Get a Personal Loan Without a CIBIL Score?

So, the question still stands: Can you get personal loan without a CIBIL score? The answer is yes. Many NBFCs (Non-Banking Financial Companies) consider other factors like your job, income, and bank records to approve your loans.

Here are some tips on how to get personal loan without CIBIL score:

1. Consider Secured Personal Loans

If you don’t have a CIBIL Score, you can always get an instant personal loan without CIBIL score by signing up for collateral. The lender wants you to put up collateral, like a fixed deposit or property documents, when you take out these kinds of loans. Why? This asset will lower the risk concern because the lender can utilise it to pay off the loan. Thus, you can get a secured personal loan with a poor CIBIL score at a cheaper interest rate.

Your chances of getting a loan are better if you put up property, a fixed deposit, or any other asset as collateral.

2. Show Stable Income and Repayment Capacity

If you don’t want to put up collateral, the best course of action for you is to show them you have a stable income. But why? It's simple. This proof of income helps the lender figure out how risky lending the loan can be. It shows them how much money you make and how much debt you have. So, if you can show that you have enough money coming in and can handle your other bills, you may be able to receive a personal loan without CIBIL score.

3. Opt for Lenders Who Specialise in Low-Credit-Score Loans

As we mentioned earlier, you need to check with vendors who provide a personal loan without CIBIL score. However, lenders may not give you a substantial loan if you have bad credit, so it is best to apply for a small one. Consider paying its EMIs on time, so that your CIBIL score improves and you become eligible for bigger loans.

4. Adding a co-guarantor

A co-guarantor with a good credit history for your application could make it more likely that you will be approved.

5. Consider Peer-to-Peer (P2P) Lending

Still not sure how to secure a personal loan without a CIBIL score? Look into P2P lending. It's a great option instead of regular banks and other financial organisations. Here, you can talk to a variety of investors who are eager to provide you with a personal loan even if your credit score is low or you don’t have one. These lenders are more concerned about the ability to pay back the loan. That being stated, they have higher interest rates, but when circumstances are tough, you need a personal loan fast approval, at once.

Why Choose My Mudra?

When wondering how to streamline the process of loan lender hunting, application and approval, turn to My Mudra. There are numerous reasons why, including:

1. Fast approval

If you have a bad credit score and need money fast, you can apply for an instant personal loan online at My Mudra, as once the documents are uploaded, all you have to do is sit back and wait for the approval within the next 48 hours.

2. Quick disbursement

The moment the loan is approved, it gets transferred to your bank account, unlike instances where lenders take 3-5 days to do so.

3. Paperless process

Considering you’re getting an online personal loan without a CIBIL score, there is no need to visit the branch physically and run from one counter to another.

4. Flexible tenure

The best part about getting loans from My Mudra is that you can choose a loan term of 12 to 84 months based on how much money you make and how much you spend. Keep in mind that longer terms, though they reduce the EMI, may mean higher interest outgo over the complete term.

Conclusion

Getting a personal loan without CIBIL score is a tedious task, but not impossible. You can opt for collateral, or get a co-signer to get a personal loan without CIBIL Score. At My Mudra, you can get fast approval personal loan and instant transfers, without the hassle of going to a branch. The best part? You can choose the tenure anywhere from 12 to 84 months, thus having the flexibility to pay back.

Also Read:
- How Much Personal Loan Can I Get Based on My Salary
- List of Small Finance Bank Personal Loan in 2025