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CIBIL score ranges from 300 to 900; the higher the score, the easier it is to get a loan. A good CIBIL score makes many things easier, while a bad score can cause problems in getting a loan. However, a loan can be obtained even with a bad CIBIL score. Let us now know about those methods in the news below, through which a loan can be obtained even with a bad CIBIL score.

How to get a loan on a bad CIBIL score-

Take the help of a joint loan- If your credit score is bad, then a joint loan can be a good option for you. In this, your partner, who has a good CIBIL score, takes a loan with you. This increases your chances of getting a loan and also reduces your loan burden so that you can easily get a loan even if you have a bad credit score.

Secured loan- You can take a loan on gold from normal banks. No bank will refuse this. Apart from gold, you can choose the option of other secured loans. Banks often give secured loans easily as compared to unsecured loans.

Take the help of small NBFCs- Small financial institutions provide loans even if you have a poor credit score. However, these institutions charge higher interest rates in such a situation.

Along with this, if you take a loan of a smaller amount, then also the chances of getting it increase. On the other hand, if you can show the bank that you have a stable income, then also your chances of getting a loan increase.

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