Personal loan with a low credit score
A low score does not always mean no — but it changes what you are likely to be offered. Here is what lenders see, what you can improve, and the offers to stay away from.
What your credit score tells a lender
Credit bureaus such as CIBIL and Experian score your repayment record, typically between 300 and 900. Late or missed payments, high card balances and several recent loan applications pull it down. A lender reads your full credit report too, not just the number.
What a low score usually changes
- A smaller amount than you asked for, or a shorter tenure.
- A higher rate within the lender’s listed range.
- Or a decline. The lender decides, using its own policy.
How to improve your chances
- Clear any overdue amount first, even a small one.
- Ask for less. A smaller loan is easier to approve — see small loans.
- Check your credit report for mistakes and raise a dispute with the bureau if something is wrong. You are entitled to one free full credit report a year from each bureau.
- Don’t apply everywhere at once. Many applications in a short time can lower your score further.
Offers to avoid
Be careful of anyone promising a loan with “no credit check”, asking for a fee before the loan, or not naming the lender. A regulated lender verifies your identity and is named in your offer and Key Fact Statement. How to check one: lending partners and how to check a loan app.
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 personal loan with a CIBIL score below 650?
It depends on the lender's policy and the rest of your application. A low score can mean a smaller amount, a higher rate or a decline. Be wary of anyone who promises a loan regardless of your credit history.
How do I check my credit report for free?
Each credit bureau must give you one free full credit report a year. Request it from the bureau's website and raise a dispute with the bureau if anything in it is wrong.
Will applying lower my score?
When you apply, the lender usually checks your credit report with your consent. Many applications in a short time can count against you, so apply selectively.