CIBIL Score for Personal Loan

Unexpected events such as an accident, home renovation or even a sudden travel plan not just disturb your peace of mind, but also require your financial assistance. In such cases, getting a personal loan seems to be an ideal option for many. A personal loan is a type of unsecured loan that helps you take care of the important and unexpected events in your life by providing you with instant access to funds. However, before lending, financial institutions do a thorough check of your financial history to determine your eligibility. One of the most important factors that is considered at the time of loan approval is your CIBIL Score.

What is CIBIL Score?

CIBIL Score is a three-digit numeric score that determines your eligibility for getting a loan. This score ranges between 300-900 with 300 being the lowest and 900 being the highest. This score is generated by CIBIL i.e. an RBI authorized credit agency. CIBIL takes into consideration an individual’s credit behaviour. A higher CIBIL score suggests a good credit history and ensures that the individual has repaid his loans on time. The score is generated taking into account an individual’s past 6 months of financial history. The score is generated based on algorithms that track the records of past payment, income, loan equities and others.

Benefits of Availing Low Cibil Loan

  • Competitive interest rates
  • Student loan ranging from INR 20,000- INR 2,00,000
  • Tenure ranging from 12-36 months
  • Convenient EMI rates

Loan Terms

Loan AmountRanging from Rs. 20,000- Rs. 2,00,000
Annualised Interest RateRanging from 18% to 36%
Repayment TenureRanging from 12 to 36 months
Processing Fees2-4% of the loan amount

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Low Cibil Loan FAQs

What is the minimum CIBIL score required for getting a personal loan?
The minimum CIBIL score required for getting a personal loan in India is 650.
Is CIBIL the only criteria checked by the lenders when processing loans?
No, CIIBIL score is not the only factor that is considered important. Lenders also check your age, income, location and other factors.
Can I get a personal loan without CIBIL verification?
No, you cannot get a personal loan without CIBIL verification.
What is the maximum loan amount I can avail from Upwards?
Maximum loan amount you can avail from Upwards is Rs. 2 lakh.