Instant personal loan is a good scheme for middle-class people, if they are in trouble for unexpected financial problems. But the procedure to apply personal loan is not quite easy because it may take 1 to 2 days. Your bank history and CIBIL score should also be good for applying for a personal loan. But if you are not getting a personal loan due to a bad cibil score, Then this article will be very helpful for you because we are discussing about Bad Credit Score Loan 2023 in this article. We will also share with you the procedure to apply online Bad Credit Score Loan 2023.
Bad Credit Score Loan 2023
CIBIL score is 3-digit number that is provided by the bank and financial companies to their customers. The range of CIBIL scores is between 300 to 900. The maximum score is the indication of the maximum trustability of the customer. If your CIBIL score is more than 750 then it will be calculated a good CIBIL is called and you will get a higher amount of loan will low interest rates from any company and Bank. But if your CIBIL score is less than 550 then it will be estimated in the bad CIBIL score. There are various factors that decrease the CIBIL score of the customer. The most common mistake of the customer is not repaying the loan amount timely and using the maximum credit limit. If you are also doing these practices then your CIBIL score will be decreased and you will get problems while taking apply personal loan. The bank will also provide personal loan with high interest rates between 15% to 37% annually.
Bad Credit Score Loan Eligibility 2023
- Applicant should be an Indian citizen
- The age of the applicant should be more than 21 years old.
- You should have a regular source of income from your salary or business
- The applicant should not engage with other loans from any company.
- You have to pay higher interest rates while taking a Bad Credit Score Loan 2023. it may be between 15 to 37% according to your eligibility.
Documents Required for Bad Credit Score Loan 2023
You need to upload the following documents at the time of applying online for bad CIBIL score personal loan:
- Aadhar card
- Pan card
- Bank account detail
- Last six month bank statement
- Source of income proof
- Mobile number of the applicant and email ID
- You should have a smartphone with internet connectivity
Bad Credit Score Loan Apply Online
The Airtel Flex credit mobile application is one of the useful mobile applications that provides personal loans to customers over their bad CIBIL scores. You can get a maximum of 9 lakh personal loans through online mode by using the Airtel Flex credit App. There are currently three lending partners with the bank that are providing suitable loans to bad CIBIL score customers. Follow this procedure to apply online for Bad Credit Score Loan 2023 :
- Open the Play Store or App Store mobile application on your mobile phone and install Airtel flex credit mobile application.
- Register Yourself by entering your mobile number and personal details
- Now you have to enter your banking details and apply for E KYC.
- You need to upload the above-mentioned document
- After this, you will receive the loan approval from the bank in the dashboard of the mobile application.
- Click on the Apply now link and read all the terms and conditions for the personal loan for a Bad Credit Score Loan.
- Select the loan amount select the EMI option in this mobile application and click on the Bad Cibil Score Loan apply link
- you will receive an OTP message on your mobile phone from the bank which you have to enter on the mobile application.
After this your application will be successfully submitted and you will get the loan amount in your bank account. you should remember that the bank will deduct processing fees and other charges from the Low Cibil Score loan amount and after that provide you the rest of the amount in your bank account. If you are applying for the first time from this mobile application then you will receive a low amount in the personal loan. once you have successfully submitted the loan amount to the bank you will receive a notification to apply for a higher loan amount for a bad CIBIL score personal loan. The company will also improve your CIBIL score if you timely submit the loan amount to the bank so after that you can take a personal loan from anywhere with a good CIBIL score.