Get a Personal loan for a Low Credit Score at Low-Interest Rate


top 9 reasons to apply for a personal loan

One of the easiest loans to take advantage of is a personal loan. This lending option is collateral-free, meaning lenders will not ask for the loan amount for any guarantee or protection. Having said that it can be easier to apply for a personal loan, but it can be difficult to get a low-income personal loan or a personal loan for a low credit score. Since the acceptance of the loan amount depends on several variables that are likely to be the most significant in terms of monthly income and credit score.

You have to realize that it can be difficult but not impossible to get a personal loan for a low credit score.  As various lenders like Indiabulls Dhani Personal loan, PaySense and others offer personal loan to the borrower with a low credit score. And to make it easy for you to use a personal loan for low Cibil, here are some of the tips that you should follow to maintain a good CIBIL score:


  • Maintain older credit cards: If you have old credit cards, as long as you can pay your bills in full on time, you should continue to keep them.


  • When you take a loan, choose a longer tenor: This will mean that your EMI is low, and so you can make payments on time.


  • At one point, aim to take one loan: The number of loans you take in a set period should be limited.


It is difficult to get a personal loan for a low salary because it is an unsecured loan and the lender often considers income before authorizing the loan. However, several lenders give loans to borrowers with low incomes, some of which are listed below:



Banks Minimum Income Criteria Loan Amount



Rs.25,000 (for individuals residing in Mumbai & Delhi)


Rs.20,000 (for individuals residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata)

Up to Rs. 20,000,00
Axis Bank ●        Rs. 15,000


●        Ranges from Rs. 50,000 upto Rs. 15,00,000


Rs. 15,000 (for individuals from Bangalore, Chennai, Hyderabad, Pune, Kolkata) up to ₹ 40,000,00

Punjab National Bank

Rs.10000 per month at Semi-Urban and Rural Centres.

Rs.12500 per month at Urban Centres; and

Rs.15000 per month at Metro Centres;


Ranges from Rs. 50,000 up to Rs. 4,000,00 (vary based on scheme)



NBFCs Income Criteria Loan Amount
Bajaj Finserv Rs. 25,000 (vary based on the city) Up to Rs. 25,000,00

Tata Capital


Rs. 15,000.

Up to Rs. 25,000,00


HDB Financial Services

Rs.20,000 (for Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai & Pune)

Rs. 15,000 (for all other locations)



Up to Rs. 20,000,00


Fullerton India

Rs. 20,000 (for Delhi & Mumbai)

Rs. 15,000 (for all other locations)

Up to Rs. 25,000,00



Loan Apps Income Criteria Loan Amount
PaySense Rs. 12,000 Up to Rs. 5,000,00
MoneyTap Rs. 20,000 Up to Rs. 5,000,00
KreditBee above Rs. 10,000 Up to Rs. 2,00,000


Depending on certain criteria, such as loan schemes, credit score, repayment history, and others the provided loan sum can vary. Having a personal loan at a low credit score or income makes it highly necessary to fulfill the eligibility conditions of the lender. You have to know that every lender has the conditions that you need to fit in. So, if you are looking for a low credit score personal loan, take a look at the same general criteria:

  • An applicant should be of 21 years and a maximum of 60 years.
  • A borrower should have a regular source of income
  • The borrower’s minimum salary should be Rs. 15, 000 per month.


Generic list of documents required to get a personal loan:

  • Age proof
  • ID proof
  • Application form
  • Photograph
  • Residence proof
  • Income proof
  • Bank statement
  • Signature verification proof
  • Pro-forma Invoice or Rate List




Getting a personal loan for a low credit score can be difficult but not impossible so don’t lose your hope and do thorough research and look for the loan whose eligibility criteria you fit in the best. We hope this article has answered all your queries.


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