Is Without CIBIL Score Personal Loan Possible?
Wishes and needs go hand to hand in today’s dynamic work environment. You wish to roam an exotic location with your family members. At the same time, the imminent cash needs also arise. In a similar vein, there are a lot of wishes and needs to be fulfilled. All such can be met with a personal loan from either a bank or non-banking finance company (NBFC). It comes easy to you without any need of submitting the collateral. But, in reality, the loan application goes through a series of approval tests conducted on several parameters. One of the parameters that financial institutions give due consideration is the credit score assigned by bureaus such as CIBIL. It assigns scores to individuals having a minimum repayment track of 6 months to a year. The score has to be good so that the lender can nod the application. Now, it’s possible for an individual to be having a poor repayment track resulting in a poor score. There’s also a possibility of not having the score due to lack of credit...