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.
"Low and attractive personal loan interest rates", "no payments for 3 months"- banks use all kinds of marketing slogans to lure their customers. During festive seasons such as Diwali or Christmas, they also roll out special loan schemes and offer interest rates lower than standard. However, do you always get the same interest rate as advertised? The truth is- "no".Learn more
The first thing to understand about CIBIL loan defaulter list is that it doesn't exist. Yes, you read it right. There is no such thing as CIBIL defaulter list. However, does this mean that you needn't worry about loan defaulting? Absolutely not. Loan defaulters exist, and they also have to face serious repercussions.Learn more
Having married for a few years now, Mr. Khanna decided to buy his own house instead of living in a rented apartment. So, he checked the home loans schemes offered by multiple banks and selected a few. However, a day before he was to send out the loan applications his friend tells him about the importance of credit score. So, he decided to check his credit report first before making any decision only to find out his credit report was bad.Learn more
With the increasing use of credit, people are getting more and more aware of the fact that one needs to maintain a satisfactory credit score. Whether it is a personal loan for a sudden cash crunch or a car loan from a private bank such as Axis Bank car loan, a credit line without a good CIBIL score is near impossible to get.Learn more
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.
While Credit Sudhaar Finance will review the past defaults, it would not be to reject the loan application but to weed out the intentional defaulters and lend to those who have not been able to pay for some exigency.
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.
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.
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.