Your first personal loan, with no credit history
Never had a loan or a credit card? Then there is no credit score to judge you by — lenders call this “new to credit”. It is not the same as a bad score: lenders can still assess you, just on other evidence.
How lenders decide without a score
With no repayment record to look at, lenders lean on what they can see: your income and how regularly it arrives, your bank statement, your existing commitments and your verified identity (KYC).
Age matters for first loans: the youngest age any lender here accepts is 18 (2 lenders); others start later.
Lender rules as listed on 4 Nov 2026; each lender can change them.
Start small
A small first loan, repaid on time, is the quickest way to build a credit history. Lenders are more willing to take a first chance on a smaller amount — see the options for ₹5,000 to ₹50,000. After a few months of on-time EMIs, your credit report starts working for you.
Read the Key Fact Statement before you accept
Your first loan offer comes with a Key Fact Statement: the amount you will actually receive, the interest rate, every fee, the APR (the all-in yearly cost) and the EMI schedule. If a fee or term is unclear, ask before you accept — and note the cooling-off period in which you can exit the loan. More in interest rates and fees.
Building a good record
- Pay every EMI on or before the due date — set up the auto-debit the lender offers.
- Keep the loan small enough that a bad month doesn’t make you miss a payment.
- Avoid applying with many lenders at once.
Who lends through Innopay Money
Loans are sanctioned by RBI-regulated lenders; Innopay Money does not lend. The lender for your loan is named in your offer and in its Key Fact Statement. How to check a lender.
See the 5 lenders and their listed termsalphabetical, not a ranking
| Lender | Interest rate (p.a.) | Amount | Tenure (months) | Application fee |
|---|---|---|---|---|
| Aye Finance | 24% – 29.5% | ₹5,000 – ₹1 lakh | 12 – 30 | ₹0 |
| Hero Fincorp | 18% – 30% | ₹50,000 – ₹7 lakh | 12 – 36 | ₹0 |
| mPokket | 18% – 36% | ₹1,000 – ₹2 lakh | 6 – 24 | ₹0 |
| Poonawalla Fincorp | 12% – 29% | ₹50,000 – ₹15 lakh | 12 – 36 | ₹0 |
| TATA CAPITAL | 12% – 29% | ₹65,000 – ₹50 lakh | 12 – 36 | ₹0 |
Each lender’s current listing on Innopay Money — not an offer. Your rate, any processing fee and the APR are in the lender’s Key Fact Statement.
Create an account with your mobile number, choose the amount you need and see the offers available to you. The lender decides approval.
Check your optionsFrequently asked questions
Can I get a loan with no credit history?
Lenders can assess you on your income, bank statement and verified identity instead of a credit score. Whether a lender offers you a loan, and how much, is its decision.
How much should I borrow the first time?
An amount whose EMI you can pay comfortably even in a lean month. Starting small and repaying on time builds the credit history that helps with larger loans later.
How long does it take to build a credit score?
Your credit report starts to show a repayment record once you have a loan or card and make payments on it. Paying every EMI on time is what builds a good record.