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Loans For People With Low Credit Score
Your journey from rejection to approval of loans begins here !
Credit Sudhaar Finance is an NBFC (Non-Banking Financial Company), which offers loans to people, who have low credit scores and are struggling to break a cycle of poor credit.
Contrary to a popular belief, taking a personal loan instead of using up your savings is actually a better idea. This is because it's important to have an emergency fund for unexpected expenses and emergencies. That said, you still need to be careful when you apply for a loan.Learn more
Personal loans are often described (and rightly so) as multipurpose loans as they are not given for a specific purpose like an education or auto loan. These loans can be used by the borrower in the manner they deem fit or as per their requirements. Thus these loans often come to the rescue of individuals when they are in need of funds for myriad purposes like supporting a ward's education when education loan is not available, in times of medical exigencies or for wedding of self or loved ones.Learn more
A bad CIBIL score may come as a shock to you especially so if you have applied for a loan and the loan is rejected leaving you in a lurch. Often you may even not be aware that the score is low or you may feel that you are a responsible borrower and therefore there is no reason for you to have a low score. Reasons For a Bad CIBIL Score:Learn more
Personal loans are taken for multiple purposes; these are unsecured loans and are offered by financial institutions at high rates. Defaulting on any loan can impact the credit rating negatively. Any loan default involves paying late/missed payment charges and interest on the overdue amount as well. Below we look at the common causes of default on personal loans:Learn more
The number of financial institutions in India has risen considerably so getting a loan is not difficult as long as you fulfill the eligibility criteria. One of the crucial factors that influence the lender's decision to accept the loan application or not is the credit score of the applicant. Getting a loan for applicants who do not have a credit score could be challenging if not impossible. So here is checklist for those who want to get a loan without a credit score:Learn more
Yes, getting a loan in individual capacity is definitely possible despite having a bad credit score. Credit Sudhaar Finance has introduced "Plus Loans" product for individuals who have stressed credit history owing to mistakes made in past.
Loan application can get declined for various reasons. The credit score or credit status is one of those. But borrower's credit score also happens to be the most important and dominant reason impacting the outcome of a loan application. The other reasons for decline could be failed verification, incomplete documentation apart from the credit policy of the bank.
The low credit score generally leads to rejection of loan application. Credit Sudhaar Finance has introduced an innovative product that aims to extend loans to those who have low credit score. Irrespective of the reason for low credit score, including delinquent accounts, Credit Sudhaar Finance will evaluate the application and will lend if the borrower meets the laid down criteria.
There are plenty of options on the market for people with limited credit history. Shop around to find the card with the lowest APR and fees you can qualify for. If you are having trouble being approved for cards, consider a secured credit card that requires a security deposit or ask a parent to add you as an authorized user on his or her card.
You can withdraw your credit report from any of the credit bureaus as many times as possible. This will not have any bearing on your credit score. However, the enquiries made by lenders can impact the credit score.
There is no particular loan defaulter list. The underwriting is based on the data available on applicant's current and past accounts available on the credit bureau report.