How to Get a Personal Loan with a Low Credit Score?

Is It Possible to Get Personal Loans with a Low Credit Score?

Yes, but you may face higher interest rates and stricter repayment tenures. Here’s what you can do:

1. Provide Proof of Adequate Income

Show proof of sufficient, steady income to demonstrate your ability to repay, even with a low credit score.

2. Request Lower Loan Amounts

Opting for smaller loan amounts can reduce lender risk, thus increasing your approval chances.

3. Apply with a Trusted Co-Applicant

Add a co-applicant with a strong credit score and stable income to increase your odds of approval.

4. Improve Your Credit Score

It’s always best to increase your score to at least 750 before applying for a loan.

Looking for a Personal Loan with Competitive Interest Rates?

Eligible applicants with a 750+ credit score can avail of personal loans of up to INR 30 lakhs*. Apply today with SMFG India Credit.

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* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us