650 CIBIL Score Personal Loan

650 CIBIL Score Personal Loan

Some borrowers asked me is it available personal loan at a 650 credit score. We cannot give him a straight answer. A straight answer is not enough for a right answer.

The lender checks various factors to provide a 650 CIBIL score personal loan. It can be your income level, employment status, and creditworthiness. Let’s read below to explore…

What Does a 650 CIBIL Score Mean?

A CIBIL score is measured on 3 numeric digits. The credit score comes in the 300 to 900 range. The CIBIL score of 650 is a fair but not an excellent one. Various lenders provide loans at a 650 credit score. But it would help if you continually worked on improving your credit score.

Different types of factors depend on calculating credit scores. Your loan payments, credit card, and total debt are the main increase or decrease CIBIL score sources. In this simple way, paying debt on time will improve your credit score.

Face Challenges with a 650 CIBIL Score

Easily Not Approved: The lender does not provide a personal loan at a 650 credit score. You have to find and match your creditworthiness before applying.

Higher Interest Rates: Interest rates may be high with a 650 CIBIL score. Various lenders such as WeRize, Fibe, and Upward provide loans at poor scores. However, interest rates are slightly different compared to other lenders.

Limited Loan Approval: Your loan approval amount can be limited because of your poor credit score. But if you repay the loan at a fixed time, your loan amount may increase in the future.

Terms and Conditions: Loan terms and conditions might be stringent. The charges like processing fees, interest rates, and insurance fees can be high.

Add Co-applicant: The Lender may include a co-applicant for loan approval. The co-applicant credit score increases your loan approval rate to a 650 score.

Improve Your 650 Credit Score

Pay EMI Timely: Borrowers should be conscious of paying loan EMI and credit card bill payments on time.  You will see a positive impact on your credit score if you pay dues on time.

Reduce Outstanding: You must reduce higher debt to improve your credit score. Pay off loan EMI on time and use a credit card limit of up to 30% which helps to build a good CIBIL score.

Limit Credit Inquiries: Your credit inquiry negatively impacts on credit score. High credit inquiry will reduce CIBIL’s score. You should reduce the loan application process which will reduce credit inquiry.

Lenders Provide Loan at 650 Credit Score

LendersInterest Rate (p.a.)Salary 
WeRize  16% to 18% p.a.Rs. 12,000Apply Now
MoneyView 1.33% per monthRs. 13,500Apply Now
InCred   11.49% to 18% p.a.Rs. 15,000Apply Now
Fibe 24% to 30% p.a.Rs. 15,000Apply Now
Prefr 18% to 36% p.a.Rs. 18,000Apply Now
Finnable 16% to 22% p.a.Rs. 15,000Apply Now
IDFC   12.50% to 18% p.a.Rs. 15,000Apply Now
PaySense   1.4% to 2.3% per monthRs. 18,000Apply Now
Upward  9% to 32% p.a.Rs. 18,000Apply Now

Personal Loan at 650 Credit Score Eligibility

You must know loan eligibility with a 650 credit score before the straightforward loan process:

  • Borrower citizenship should be Indian
  • Borrower in-hand salary of Rs. 12,000 or above is eligible for a 650 score personal loan.
  • Job experience minimum 9 months old is eligible.
  • The borrower’s credit history score must be 650 or above need.

Documents for 650 Credit Score Personal Loan

  • Pan Card
  • Aadhaar Card
  • Salary Slip
  • Bank Statement

Also Read: Urgent Loan for CIBIL Defaulters

Applying for a Personal Loan with a 650 CIBIL Score

1. Research with Lenders: Various lenders provide loans with various criteria. Look for a lender that gives you a personal loan at a 650 CIBIL score. Also, check income, employment status, etc.

2. Pre-qualify Loan: Sometimes your existing lender provides a pre-qualified loan that might be available without hard inquiry. Get a pre-qualified offer at lower interest rates.

3. Consider NBFCs: Non-Banking Financial Companies (NBFCs) offering loans without hard inquiry. Ensure the digital application process that slightly better compared traditional process.

4. Secure Loans: If possible go with secure loans that are applicable at 650 credit score. This will increase the loan approval rate and might get better loan terms.


  1. How much personal loan is applicable at a 650 credit score?

    Various lenders provide different types of loan amounts. Creditworthiness is one of the main steps for loan amount approval. But if you have a Rs. 12,000 salary, a maximum of 5 lakh loan is available.

  2. Can I get a personal loan with a 650 credit score?

    It is a really hard situation to obtain a personal loan with a 650 credit score. Lenders provide loans to higher credit score owners. However, some financial institutes give you high-risk loans at a 650 score. You must follow lender guidelines and begin the process.

  3. What is the interest rate of a 650 CIBIL score personal loan?

    The borrower should confirm the interest rate and other charges from the lender. Interest rates may be high because of high-risk credit scores.

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