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Your credit score is a very important factor for obtaining loans or applying for credit cards. A strong credit score provides you options for various borrowing options. If you have a low/bad credit score, it gets difficult to get loans at lower interest rates. However, if you have a bad score and still want to get a loan in case of emergencies, there are options for it.
Check out the below list for the 25 apps that offer loans even if you have a low/bad credit score.
|
S.NO |
Low Credit Score Loan App |
Interest Rates |
|
1 |
LazyPay |
16% – 32% per annum |
|
2 |
mPokket |
0% – 4% per month |
|
3 |
Indialends |
10.25% – 25% per annum |
|
4 |
Bajaj Markets |
14% – 52% per annum |
|
5 |
Money View |
16% – 39% per annum |
|
6 |
Bajaj Finserv |
12% – 34% per annum |
|
7 |
Pocketly |
14% – 39% per annum |
|
8 |
Bueno Loans |
20% – 52% per annum |
|
9 |
Home Credit |
18% – 56% per annum |
|
10 |
SmartCoin |
Upto 30% per annum |
|
11 |
Pay With Ring |
14% – 28% per annum |
|
12 |
Fair Money |
12% – 36% per annum |
|
13 |
CASHe |
Upto 30.42% per annum |
|
14 |
NIRA |
24% – 36% per annum |
|
15 |
Prefr |
18% – 36% per annum |
|
16 |
Kissht |
Starts from 18% per annum |
|
17 |
KreditBee |
Upto 29.95% per annum |
|
18 |
PaySense |
16% – 36% per annum |
|
19 |
Mystro Loans |
15% – 36% per annum |
|
20 |
IndusMobile |
18% – 39% per annum |
|
21 |
DigiMoney |
19% – 34% per annum |
|
22 |
MoneyTap |
13% per annum |
|
23 |
PayMeIndia |
18% – 36% per annum |
|
24 |
Dhani |
Upto 42% per annum |
|
25 |
Early Salary |
15% – 40% per annum |
Check your credit score for free on CreditMantri to get a better idea of which apps you can approach for applying for loans.
Best 25 Low Credit Score Loan App List
1. LazyPay:
LazyPay offers quick and easy loans with interest rates ranging from 16% to 32% per year. It's a convenient option for those with low credit scores who need short-term financing for various purposes like shopping, bill payments, or travel expenses.
2. mPokket:
mPokket provides hassle-free loans with interest rates between 0% to 4% per month. It's designed for students and young professionals who need small amounts of money for emergencies or to cover expenses until their next paycheck.
3. Indialends:
Indialends offers loans with interest rates ranging from 10.25% to 25% per year. It's suitable for individuals with low credit scores who require personal loans for debt consolidation, medical emergencies, or other urgent financial needs.
4. Bajaj Markets:
Bajaj Markets provides loans with interest rates ranging from 14% to 52% per year. It caters to individuals with low credit scores who require quick and flexible financing solutions for various purposes such as home renovation, wedding expenses, or education fees.
5. Money View:
Money View offers loans with interest rates between 16% to 39% per year. It's a convenient option for individuals with low credit scores who need instant cash for medical emergencies, travel plans, or unexpected expenses.
6. Bajaj Finserv:
Bajaj Finserv provides loans with interest rates ranging from 12% to 34% per year. It's a trusted choice for individuals with low credit scores who require financial assistance for purchasing consumer durables, electronic gadgets, or home appliances.
7. Pocketly:
Pocketly offers loans with interest rates between 14% to 39% per year. It's suitable for individuals with low credit scores who need quick cash for shopping, utility bill payments, or other essential expenses.
8. Bueno Loans:
Bueno Loans provides loans with interest rates ranging from 20% to 52% per year. It's an option for those with low credit scores who require immediate funds for emergency medical expenses, home repairs, or education fees.
9. Home Credit:
Home Credit offers loans with interest rates between 18% to 56% per year. It's designed for individuals with low credit scores who need financing for purchasing consumer goods like smartphones, home appliances, or furniture.
10. SmartCoin:
SmartCoin provides loans with interest rates of up to 30% per year. It's a suitable choice for individuals with low credit scores who require short-term loans for covering medical bills, utility expenses, or travel costs.
11. Pay With Ring:
Pay With Ring offers loans with interest rates ranging from 14% to 28% per year. It's a convenient option for individuals with low credit scores who need quick cash for paying bills, rent, or unexpected expenses.
12. Fair Money:
Fair Money provides loans with interest rates between 12% to 36% per year. It's suitable for individuals with low credit scores who require instant funds for medical emergencies, education fees, or debt consolidation.
13. CASHe:
CASHe offers loans with interest rates of up to 30.42% per year. It's a reliable choice for individuals with low credit scores who need short-term financing for shopping, travel expenses, or medical bills.
14. NIRA:
NIRA provides loans with interest rates ranging from 24% to 36% per year. It's designed for individuals with low credit scores who require quick cash for emergencies, debt consolidation, or unexpected expenses.
15. Prefr:
Prefr offers loans with interest rates between 18% to 36% per year. It's suitable for individuals with low credit scores who need instant funds for personal expenses, home repairs, or educational purposes.
16. Kissht:
Kissht provides loans starting from 18% per year. It's a convenient option for individuals with low credit scores who require financing for purchasing consumer goods, electronic gadgets, or home appliances on easy monthly instalments.
17. KreditBee:
KreditBee offers loans with interest rates of up to 29.95% per year. It's a reliable choice for individuals with low credit scores who need instant cash for medical emergencies, education fees, or wedding expenses.
18. PaySense:
PaySense provides loans with interest rates ranging from 16% to 36% per year. It's designed for individuals with low credit scores who require quick and flexible financing solutions for various purposes such as home renovation, debt consolidation, or travel expenses.
19. Mystro Loans:
Mystro Loans offers loans with interest rates between 15% to 36% per year. It's a suitable option for individuals with low credit scores who need immediate funds for personal expenses, medical bills, or educational purposes.
20. IndusMobile:
IndusMobile provides loans with interest rates ranging from 18% to 39% per year. It's a convenient choice for individuals with low credit scores who need quick cash for emergencies, utility bill payments, or educational expenses.
21. DigiMoney:
DigiMoney offers loans with interest rates between 19% to 34% per year. It's suitable for individuals with low credit scores who require instant funds for shopping, travel expenses, or medical bills.
22. MoneyTap:
MoneyTap provides loans with interest rates of 13% per year. It's a reliable option for individuals with low credit scores who need flexible financing solutions for various purposes such as home renovation, debt consolidation, or education fees.
23. PayMeIndia:
PayMeIndia offers loans with interest rates ranging from 18% to 36% per year. It's designed for individuals with low credit scores who require immediate funds for personal expenses, medical emergencies, or education fees.
24. Dhani:
Dhani provides loans with interest rates of up to 42% per year. It's a convenient choice for individuals with low credit scores who need quick cash for medical emergencies, debt consolidation, or home repairs.
25. Early Salary:
Early Salary offers loans with interest rates ranging from 15% to 40% per year. It's suitable for individuals with low credit scores who need instant cash for personal expenses, travel plans, or education fees.
Check out the list of all the apps here that provide personal loans and apply for them directly on CreditMantri.
Conclusion
While having a low or bad credit score can limit your borrowing options, there are still solutions available in need of immediate financial requirements. The list provided gives you 25 different loan apps catering to people with low credit scores, offering various interest rates and terms to suit different needs and situations. Whether it's for medical emergencies, education expenses, or unexpected bills, these apps provide accessible options for getting necessary funds.
If you want to improve your credit score and get better deals on loans without having to pay high-interest rates, our credit improvement services can help! Get in touch with an expert to understand your credit report, find the best plans to clear your existing dues, and build a credit-positive lifestyle.
Frequently Asked Questions
1. Which app gives loans with a low CIBIL™ score?
All the above listed 25 apps including mPokket, Indialends, Kredit Bee and others offer a personal loan with a low credit score.
2. Can I get a personal loan with a 500 credit score?
Yes, it is possible to get a loan with a low credit score of 500. However, you might have to pay a higher interest rate for the same.
3. Can I get an instant personal loan with a low credit score?
Instant approval for personal loans with a low credit score is uncommon. Lenders typically verify your creditworthiness before approval.
4. How can I check and analyse my credit score for free?
You can check your credit score for free on CreditMantri. Our credit score is powered by Equifax.
5. How to improve my CIBIL™ score?
Improving your CIBIL™ score takes time and discipline. Ways to improve include paying bills on time, keeping credit utilization low, and fixing errors on your credit report.
Disclaimer: This page is provided for information only and contains information which has been gathered from other sources. We do not guarantee the veracity of the information provided or contained in it as such data may vary from time to time. The user is expected to verify with the respective source before making any decisions or actions.