@janis.brakus If you have a low CIBIL score, it may be difficult to get approved for a personal loan. However, there are still some options available to you.
- Consider a secured loan. Secured loans require collateral, such as a car or house, which the lender can repossess if you default on the loan. Because the lender has less risk, they may be more likely to approve your loan.
- Look for a co-signer. If you can find a co-signer with a good credit score, this may help your chances of getting approved for a personal loan. The co-signer agrees to be responsible for the loan if you are unable to make the payments.
- Apply to a credit union. Credit unions may be more likely to approve a loan for someone with a low CIBIL score than a traditional lender.
- Consider a payday loan. Payday loans are short-term loans that have high-interest rates, so they should only be used as a last resort.
- Improve your CIBIL score. If you have time, you can work to improve your CIBIL score by making on-time payments, reducing your credit card debt, and disputing inaccuracies on your credit report.