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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.
Mr. Anirudh wants to apply for a home loan and his score is 670 but he is not sure if this score is low or Is acceptable for a loan? Just like Anirudh you may also wonder what exactly qualifies as a low score and how does it impact you. Credit score is number ranging from 300 to 900, a higher score is considered to be better than a lower score. The most important use of credit rating is for loan approval and what is considered as a low score may vary as per the lender policies and also the type of loan. However the table alongside lists what is considered a low CIBIL score generally.Learn more
Credit score is a reflection of your credit history and if your credit history is less than six months then you will not be scored but give a score of -1 or NH. Credit reports contain details about all your loans and credit cards and in some cases may have information that may be as old as seven years. So if your score is good it is not because of a recent or a one of action and the same applies for a low score. Any score is a culmination on of credit behavior for a considerable length of time.Learn more
Notwithstanding the opinion of a few credit experts who are not very fond of personal loan, it goes without saying that this product is a good option if the quantum of money required is low. In case of a lower amount of loan, the same shall get paid faster as well which is a plus by all means. Since the end use is not restricted and the borrower has the liberty to use it for any purpose, it makes the product a popular choice for bridging the gaps when needed. However, being an unsecured loan product, the cost of funds is higher than other credit offerings.Learn more
Are you having a hard time getting a loan due to a poor CIBIL score? Don’t worry. You aren’t the first person to face this problem. In fact, one of the biggest reasons behind loan rejections is a low score. That said, you can improve your score rather easily if you are disciplined and willing to do the work it requires.Learn more
A lot of times, life take twisted turns and we don’t even know how we would end up when the dust settles. We all want to be financially sound and secure, but many a times we, our self do not keep the financial integrity and find ourselves in the loan dump.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.