Is it Possible to Get a 50,000 Loan Without CIBIL?

Jun 3rd 2024
Personal Loan Without Cibil Score

Have you come across the need for urgent cash? Though getting quick cash in today’s world is not a hard thing to pursue, most lenders rely on your CIBIL score to determine your creditworthiness. But what if your credit score is too low or not available? Can you still get a loan without a CIBIL score? According to credit experts, it is possible to get a personal loan of up to Rs. 50,000 even if you don’t have a CIBIL score. There are several ways to get this done and you need to be aware of them to get things done. Let’s get to know them in the following part of this post.

What is CIBIL?

CIBIL stands for Credit Information Bureau of India Limited. It is a statutory body that monitors and records the credit records of individuals and businesses. A borrower gets a CIBIL score within the range of 300 and 900. A person with a CIBIL score of 900 is known to have the best credit performance a person with a 300 credit score means there is no credit record or the person is not at all creditworthy.

In most cases, lenders prefer to give credit to people with a minimum CIBIL score of 650. Therefore, loan applications that have a CIBIL of below 650 are not likely to get approval on their loan application.

How to Get a 50,000 Loan without a Cibil Score?

If you are looking to take a loan of Rs. 50,000 and have no CIBIL score, you can still get a loan. There are several routes you can opt for. Take a look at them below.

  1. Opt for a Secured Loan – You can opt for a secured loan from banks and NBFCs. In this type of loan, you can pledge a security like gold, a property against the loan amount you borrow. This is one of the most widely chosen and easiest ways to arrange funds for any kind of need. You can pledge collateral and apply for a personal loan online or offline these days without quoting your CIBIL score.
  2. Choose a Guarantor – The next thing you can do to avail a personal loan of Rs. 50000 without presenting your CIBL is to get a co-applicant. Doing this would improve your chances of getting your loan application approved by the lenders. However, you can avail of this option only if the co-applicant has an excellent credit score as that would make your application less risky.
  3. Ask for a Reduced Loan Value – If possible, try to secure a lower loan amount than Rs. 50000 as then the lenders won’t give much consideration to your CIBIL score. A smaller loan amount simply means reduced risk associated with the loan, which can be feasible for some lenders.
  4. Check and Report Any Error in your CIBIL Report – This is one step that you must take as in most cases, it has been found that there are errors in peoples’ CIBIL reports. You must fetch your latest CIBIL report, take a thorough look at it, if you notice errors, and report them to the bureau. This will improve your report and the chances of getting your loan approved will be high.

What Effects Would a Low CIBIL Score Have on Your Loan Applications?

Whether you have no CIBIL score or your score is very low, there could be serious repercussions for any loan application you make. And, as a borrower, you must keep abreast of the same. This would help you on how to make your loan application in a way to get it approved by the lenders. Let’s understand them below.

  1. Lower Loan Value: An inferior CIBIL score tends to make any person a borrower with higher risk and there would be higher chances of facing bounced EMIs and loan defaults. Even if some lenders are ready to sanction your loan application, you need to make way with a lower loan value to curb the lurking risk.
  2. Fewer Loan Options: When it comes to applying for a 50,000 Personal Loan without a CIBIL score, you may across very few lending institutions that would approve your loan application. This simply refers to the fact that you have fewer loan options to compare and finalize.
  3. Possibility of getting the Loan Application Rejected: Availing a personal loan in the amount of Rs. 50,000 without quoting a low CIBIL score is mountainous. Since lending institutions want some kind of assurance regarding on-time repayment, a low credit score is enough to testify that there are fewer chances of getting back the given amount and they reject the loan application.

Eligibility To Get A Personal Loan of Rs. 50000

It would help if you kept in mind the following eligibility criteria while applying for a 50000 loan amount.

  • Age should be between 21 and 58 years
  • Indian nationality
  • A salaried or self-employed person
  • Minimum monthly income of Rs. 15000
  • You should be working for at least six months or your business should be of a minimum age of 2 years

Interest Rate on a Rs. 50000 Personal Loan

Another aspect that is worth talking about is the interest rate that would be applicable if you get a loan of this amount without quoting CIBIL.


Application Amount

Interest rate

From 11%

Processing Charges

2.5% to 3.5%

Foreclosure Fee

5% + GST

EMI Bounce Charges

Rs. 350/-


What are the Alternatives for Borrowers Without CIBIL for a 50000 Personal Loan?

In India, obtaining a personal loan of 50,000 rupees without a CIBIL score is challenging due to most lenders relying on credit scores for risk assessment. However, you can explore the following alternative approaches for securing the loan. 

  • Microfinance institutions like Investkraft provide loans to individuals who have limited or no credit background. Typically, they offer loans, usually up to 50,000 rupees at a little higher interest rates as compared to banks. However, the eligibility criteria for obtaining these loans are less strict than those of traditional banking institutions
  • Consider forming or joining a small savings group with friends, family or colleagues. In this group, each member regularly contributes a fixed amount and the pooled money can be used by members to obtain small loans in a rotating manner
  • To maintain a healthy relationship, it is important to establish clear repayment terms and applicable interest rates when borrowing from friends or family. This will ensure everyone is on the same page and prevent any potential strain on your relationships

What are Some Crucial Considerations Before Borrowing 50000 Rupees Without CIBIL?

Proceeding with caution is crucial when considering borrowing 50,000 rupees without a CIBIL score. It is essential to carefully evaluate certain factors before making a decision. 

  • Higher Interest Rates: Without a CIBIL score, lenders view you as a higher risk, resulting in substantially higher interest rates for loans. You may encounter interest rates ranging from 15% to 25%.
  • Shorter Repayment Terms: Lenders may offer loans without CIBIL scores with shorter repayment terms, resulting in higher monthly instalments. This could potentially strain your budget.
  • Focus on Reputable Lenders: When looking for loans without CIBIL scores, it is crucial to focus on reputable lenders to avoid potential scams. Take the time to thoroughly research the lender by checking their registration with the RBI and reading reviews from other borrowers. Be cautious of lenders who ask for upfront processing fees or security deposits before loan approval, as they may not be legitimate.
  • Understand Eligibility Requirements: Make sure to understand the eligibility requirements of lenders even if you do not have a CIBIL score. Lenders may have their own criteria, such as stable employment, minimum income and residing in a specific area. Before applying, ensure that you meet these requirements. 
  • Explore Alternatives: Before jumping into taking a loan without a CIBIL score, it might be worth considering alternative options. You could explore cutting back on expenses, borrowing from friends or family with a clear repayment plan, or looking for a credit builder loan to improve your CIBIL score first. These alternatives could potentially help you avoid the risks associated with taking a loan without a credit score.
  • Compare Loan Offers: When considering taking out a loan without a CIBIL score, it is essential to gather quotes from various lenders and carefully compare the interest rates, fees and repayment terms offered. By evaluating all the offers, you can identify the one that best aligns with your financial situation and offers the most favourable terms.
  • Borrow Only What You Need: Borrow only the necessary amount of 50,000 rupees as higher interest rates and shorter repayment terms can increase the cost of these loans
  • Make Timely Repayments: Building a positive repayment history is crucial for improving your CIBIL score. Making timely repayments, specifically on EMIs, can have a positive impact on your credit score. This, in turn, can increase your chances of being approved for future loans.


Q1: Does taking a personal loan without CIBIL hamper your credit score?

A: Unless you pay your loan EMIs on time and in a steadfast manner, your CIBIL score will improve over time.

Q2: Is there any other way to get a personal loan without quoting CIBIL?

A: Yes, you can use a credit card to meet your urgent cash-related needs. Many banks offer affordable cash against credit cards.

Q3: How can a credit score be measured through CIBIL?

A: The CIBIL office fetches monthly reports from associated banks and NBFCs. The credit bureau then checks the customer's credit records and saves them against their individual PAN Nos. This detail is further used to prepare the CIBIL report.



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