10+ Best Loan Apps for Low Credit Score

10+ Best Loan Apps for Low Credit Scores

One friend told me that low credit score customers can’t get any type of loan. Some part is true & some part is wrong. Low credit score customers can get a loan if the customer knows the right application.

As you know, the CIBIL score measures from numbers 300 to 900. This number will decide which is a good or bad credit score. A good CIBIL score holder can get a loan from every application.

But, what about bad credit score holders?

Here is the solution for you. We are covering 10+ best loan apps for low credit scores. You should check it out right now.

10+ Best Loan Apps for Low Credit Scores

AppsInterest Rate Loan Amount
Money View16% – 39% p.a.  Up to Rs. 5 Lakhs
mPokket0% – 4% p.m.  Rs. 500 to Rs.30,000
LazyPay16% – 32% p.a.  Up to Rs. 1 Lakhs
CASHe2.25% p.m. Rs. 1,000 to Rs. 4 lakh
KreditBeeUpto 29.95%  Up to Rs. 4 Lakhs
PaySense16% – 36% p.a.  Rs. 5,000 – Rs 5 lakh
PayMeIndia18% – 42% p.a.  Up to Rs. 2 Lakhs
Zest Money0% – 21% p.a.  Up to Rs. 2 Lakhs
Prefr18% – 36% p.a.  Rs. 10,000 – 3 lakh
Phocket19% – 36% p.a.  Up to Rs. 2 Lakhs

Benefits of Low Credit Score Loan Apps

Instant Disburse: This low CIBIL score loan application gives you instant loan disbursement. The money will credit within 30 minutes.

Fewer Documents:  The document process is minimal. Your KYC documents will need at loan application time.

Loan Tenure: The loan application gives you flexible tenure.

High Amount: Some application gives you a higher loan amount of up to Rs.  5 lakhs.

Trusted Application: These loan applications are from registered NBFC companies. You can fully trust & apply for the loan without fear.

Interest Rate: Different application gives you different interest rate. The interest rate will depend on your credit score.

Also Read: Instant Personal Loan at 12,000 Salary in India

Eligibility Criteria of Loan Apps with Low Credit Scores

  • Applicant should be Indian Citizenship
  • The minimum age of 18 years required
  • Applicant required source of income
  • Aadhaar linked mobile number required

Documents Required for Low Credit Score Loan

  • Address Proof (Aadhaar Card/ Voter Card / Passport/ Driving License)
  • Identity Proof (Pan Card)
  • Active Bank Account
  • Applicant Selfie Image

Fees & Other Charges

Interest rate12% to 36% p.a.
Processing FeeUp To 5% + GST
Bounce ChargeApplicable
Late Payment ChargeApplicable
Also Read: 3 tips to improve your personal loan eligibility 

How to Apply for Low Credit Score Loan Apps

Step 1: Check the eligibility criteria & download the loan application from Google Play Store.

Step 2: Register through a mobile number or Email id.

Step 3: Fill in the queries carefully.

Step 4: Now lender will check your credit score.

Step 5: Give your bank details for the e-mandate process.

Step 6: After all the process is done, you will get the loan offer.


Can I get a loan with a 550 credit score?

Some application gives you a loan with a 550 credit score. But the interest rate will be high.

How much loan can I get through low credit score loan apps?

You may get up to Rs. 5 lakhs instant loans through these loan apps.

Can I apply for a loan without a credit score?

Yes, you may apply for a loan without a credit score. Some application like Finnable, Kreditbee, UpWards, and LazyPay gives you a loan without a credit score.

Is a smartphone required to apply for an instant loan?

If you are going to apply for an instant loan, a smartphone will require.

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