Loan for CIBIL Defaulters- Instant Approval & Quick Processing
Special Loan Options Even with a Low or Poor Credit Score
Minimal Documentation Required
Use Funds for Any Purpose – Business, Emergency, or Personal
Why Choose Kreditbazar for a Loan for CIBIL Defaulters?
We partner with NBFCs and lenders open to offering loans even to CIBIL defaulters, with easy terms and quick processing.
Exclusive Loan Options Through Our Trusted Lenders
Our lending partners specialise in providing loans for low CIBIL score holders. These offers come with flexible repayment options and affordable EMIs, so you can focus on managing your needs without extra financial stress.
Fast Approval & Quick Disbursal
Time matters when you're in urgent need. Our lenders ensure fast approval and disbursal, usually within 24–48 hours, so that you don’t have to wait longer to get your funds.
Simple Process with Minimum Paperwork
Don’t worry if you’re not good with paperwork. With just a few basic documents like Aadhaar, PAN, bank statement, and income proof, you can apply for a loan without any complications.
Loan Amount Based on Your Current Profile
Even if you had defaults in the past, you can still get a good loan amount based on your present income, job stability, or business performance. Our partners look beyond your CIBIL score and focus on your current financial status.
100% Transparency – No Hidden Charges
We believe in honest lending. That means no surprise charges, no hidden fees – just simple, clear loan terms you can trust.
Loans for Salaried and Self-Employed Defaulters
Whether you’re a salaried employee, a freelancer, or a small business owner, we help you connect with lenders who provide loan options suited to your income pattern and needs – even if you had trouble with repayments before.
Are There Any Charges Involved in Loans for CIBIL Defaulters?
Yes, some basic processing charges may apply. But don’t worry – we will inform you upfront. No hidden fees, just clear information to help you make the right choice.
| Fee Type | Amount |
|---|---|
| Rate Of Interest | Starting from 16% p.a. on a reduced balance basis |
| Processing Fee | Starting from 2% of the loan amount plus GST |
| Tenure | 3 to 36 months |
| APR | Starting from 18% |
| Bounce Charge | ₹500 plus GST |
| Late Payment Charges | ₹500 plus GST or 3% of the total loan amount, whichever is higher as per the overdue amount |
| Stamp Duty | 0.1% of the loan amount |
| Mandate Rejection Charges | ₹250 plus GST |
| Pre-Clouser Charges | Nil |
Know Loan Criteria, Apply Confidently!
Quick and Simple Requirements to Avail a Personal Loan through Kreditbazar
NBFC Loan Criteria for Salaried
Eligibility Criteria -
Age Range: 21 to 55 years
Monthly Income: ₹15,000 & above (Reflected in bank statement)
Job Duration: Min. 1 year
Nationality: Indian
Documents Required -
Identity Proof : Passport / Aadhaar card / PAN card / Driver's license
Selfie : A clear picture of yours with proper lighting
Address Proof : Passport / Rent agreement / Utility bills / Voter’s ID
Proof of Income : Bank statements / Salary slips (3 months) / Form 16
NBFC Loan Criteria for Self-Employed
Eligibility Criteria -
Age Range: 21 to 55 years
Monthly Income: ₹15,000 & above (Reflected in bank statement)
Business Duration: Min. 1 year
Nationality: Indian
Documents Required -
Identity Proof : Passport / Aadhaar card / PAN card / Driver's license
Selfie : A clear picture of yours with proper lighting
Address Proof : Passport / Rent agreement / Utility bills / Voter’s ID
Proof of Income : Bank statements / Minimum 3 Year IT Return
Choose a Loan As Per Your Needs
Looking for the right plan? Find the best Loan option based on your budget and needs. Apply easily using an Aadhaar Card and pay in flexible EMIs.
Travel
Education
Emergency
Shopping
Wedding
Low Salary
Maternity
Gifting
Home Renovation
FAQs about Loan for CIBIL Defaulters
Got questions? We’ve got you covered. Find clear answers about loan eligibility, documents, interest rates, repayment terms, and more – all tailored for borrowers with low or poor CIBIL scores.
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Can I get a loan if I have a low CIBIL score or have defaulted before?
Yes, you can still get a loan even if you are a CIBIL defaulter. Many NBFCs and private lenders consider your current income and financial situation rather than just your past credit history.
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What is the minimum CIBIL score required to get a loan?
There is no fixed minimum score. Some lenders may offer loans even if your CIBIL score is below 600, especially if you have stable income and low current liabilities.
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What types of loans can I get as a CIBIL defaulter?
You may be eligible for personal loans, business loans, secured loans (against property or assets), or small-ticket emergency loans, depending on your repayment capacity and lender policy.
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Will the interest rate be higher for CIBIL defaulters?
Yes, since the risk is higher for lenders, the interest rates for CIBIL defaulters may be slightly higher than usual. However, it can still be manageable with proper EMI planning.
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Can I improve my CIBIL score after taking a loan?
Absolutely. If you repay your new loan on time, it helps rebuild your credit score over time and increases your chances of getting better loan offers in the future.
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What documents are needed to apply for a loan with low CIBIL score?
You’ll usually need basic KYC documents like Aadhaar and PAN card, recent bank statements, income proof like salary slips or ITR, and any existing loan details.
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How long does it take to get the loan approved?
With lenders who support low-credit borrowers, the loan can be approved and disbursed within 24 to 48 hours, depending on your profile and documentation.
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Is collateral required for a loan for CIBIL defaulters?
Not always. Some lenders may offer unsecured loans based on your income, while others may ask for collateral like gold, property, or fixed deposits to reduce risk.
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Can salaried people with a low CIBIL score get loans?
Yes, salaried individuals with a steady income and proper documentation can get loans even if they have a poor CIBIL score. The amount and terms depend on your employer type and income level.
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Are self-employed individuals eligible for such loans?
Yes, self-employed people can also apply for loans despite a bad credit history, especially if they show stable business income and bank transactions.
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What is the repayment period for such loans?
Repayment tenures usually range from 12 to 60 months. You can choose a plan that suits your monthly income and budget.
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Will applying for multiple loans affect my CIBIL score further?
Yes, applying for loans from multiple lenders in a short time can negatively affect your score. It’s better to check your eligibility through soft-check platforms like Kreditbazar without impacting your score.
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How much loan amount can I get as a CIBIL defaulter?
Loan amount depends on your current income, employment stability, and lender policies. Some lenders offer from ₹25,000 up to ₹5 lakhs or more even with poor credit, if your income supports it.
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Are there any hidden charges in loans for CIBIL defaulters?
Reputed platforms like Kreditbazar ensure full transparency. Processing fees and other charges, if any, are shared clearly before you sign the agreement.
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Is it safe to take a loan if I already have low credit?
Yes, as long as you borrow within your limits and repay on time. Taking a fresh loan and repaying responsibly is actually one of the best ways to rebuild your credit score.
