A good credit score is usually required for loans and credit cards, but many people with low or no credit history struggle to get approved. Fortunately, fintech companies and NBFCs now offer instant loans through mobile apps, making borrowing easier. Loan app without credit score typically uses other means to assess the borrower’s creditworthiness. These instant loan apps without CIBIL use smart technology to check financial habits like income, spending, and repayment history instead of just a CIBIL Score.
With Bajaj Finserv Insta Personal Loan, existing customers get pre-approved offers, while new users can generate a pre-assigned limit using just their mobile number and OTP. Since these loans are pre-approved, checking your CIBIL Score is not required.
Features and benefits of loan app without CIBIL Score
Loan apps that don’t require a CIBIL score offer hassle-free financing solutions tailored for individuals without a credit history. Key features include:
- Easy application: Simple and quick application process through mobile apps.
- Minimal documentation: Requires basic documents like ID and income proof.
- Fast disbursal: Loan amounts credited to your account within a short span.
- Flexible loan amounts: Borrow amounts suitable to your needs.
Instant loan apps provide quick and reliable solutions for urgent financial needs. Key advantages include:
- Convenience: Apply anytime through user-friendly mobile apps.
- Quick disbursal: Receive funds in a matter of a few minutes*.
- Flexible tenures: Choose repayment terms suited to your financial capacity.
- Customisable loan amounts: Borrow amounts as per your requirements.
These apps empower users with financial independence, offering a stress-free borrowing experience. - Pre-approved offers: Some apps and lenders may provide pre-approved offers to select existing customers, depending on their profile.
One of the primary advantages of using these online loan apps is the speed and convenience that they offer. Instead of undergoing the lengthy and often cumbersome process of traditional loan applications, users can simply download the app, fill out a few basic details, and receive an instant decision on their loan application. This rapid turnaround time is especially beneficial in emergencies when quick access to funds is paramount. With our Insta Personal Loan, select customers can get funds in their account in as little as 30 minutes*.
Furthermore, these apps typically offer flexible loan options tailored to meet the diverse needs of borrowers. Whether it is a small, short-term loan to cover unexpected expenses or a larger instalment loan for more significant financial requirements, users can find a variety of borrowing options that suit their circumstances. Additionally, many apps provide transparent terms and competitive interest rates, allowing borrowers to make informed decisions about their finances.
However, while these instant loan apps offer a lifeline to those needing urgent funds, borrowers need to exercise responsible financial management. Taking on debt without a solid repayment plan in place can exacerbate financial woes in the long run. Therefore, borrowers should borrow only what they need and ensure they can comfortably afford to repay the loan on time.
Loan eligibility without credit score
Many apps offer loans without requiring a credit score by evaluating other criteria.
In general, the eligibility criteria for instant personal loan app without CIBIL Score revolve around:
- Minimum income
- Credit history
- Nationality
- Employment type
and so on.
To know more about the criteria for our Insta Personal Loan, explore loan eligibility and documents.
Additional read: How to get an instant loan with low CIBIL Score?
Documents required for instant loan app without CIBIL Score
Documents required to apply for a loan without a CIBIL score vary as per lenders. For Insta Personal Loan, select customers may not need to submit any documents. However, it is recommended to keep the following documents handy when applying for a loan:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
How to apply for a personal loan without a CIBIL Score
You can easily apply for a personal loan through an instant loan app without credit score requirements by following these steps:
- Download the loan app – Choose a trusted instant loan app without credit score checks.
- Register and fill details – Sign up using your mobile number and enter basic personal and financial details.
- Submit documents – Upload Aadhaar, bank statements, salary slips, and other required documents for verification.
- Eligibility check and approval – The app assesses your financial health using alternative data.
- Disbursal – Once approved, the loan amount is credited directly to your bank account.
This process ensures quick and hassle-free loan access without a high CIBIL Score.
Additional read: How to get an urgent loan without income proof?
Conclusion
Instant loan apps without a CIBIL score simplify borrowing for individuals with no credit history. With quick approvals, minimal documentation, and flexible terms, these apps bridge the gap for first-time borrowers. They are an efficient tool for meeting immediate financial needs while building a financial track record.
You can use the Bajaj Finserv app to get our Insta Personal Loan – benefitting from pre-approved offers and quick disbursal.
