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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.
Loans actually make life much easier when it comes to the ease of cash flow. There are so many loans which are predefined. Like, A home loan is for buying a house or an auto loan is for car or bike or vehicle, a business loan is for business and an education loan for higher education. These are loans for a predefined purpose.Learn more
Shweta and Anita both had bought home appliances for their new home for Diwali, for which they had both taken a personal loan. After a few months as they were discussing their EMIs, Anita realized she was paying a higher rate than Shweta on her loan. This despite the fact that both borrowed around the same time from the same bank close to their office. Their demographic profile was similar and they worked with the same organization.Learn more
Today, let us understand a few terms related to a loan, credits, credit report, credit score. The first and the foremost thing; Credit. A credit is considered as any type of financial help that is taken from a financial institution which is either a bank or an NBFC (Non-Banking Financial Company). Credit involves two types. Loans and credit cards. The credit limit of the credit card acts as a loan amount. There are different types of credits. Secured and unsecured type of credit.Learn more
Credit usage is rather common these days, with most of us buying everything from groceries to gadgets on credit cards. In the present day, it is unlikely that you are not using credit in some form or the other. But if you are not careful about your credit usage, you may end up with a poor credit score. But what is the big deal even if you do land up with a poor score you ask? More than you can imagine! Let’s dive deeper into how you are likely to land with a poor CIBIL score and how it may impact you.Learn more
If you are aware that your CIBIL score is low and want to improve it as soon as possible, then first of all, you should pat your back for being responsible towards your credit rating. There are still many people out there who don't understand the importance of a high CIBIL score and end up facing challenges when they need a loan or a credit card.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.