Are Instant Loans Possible Without CIBIL, and What Are Your Options?


CIBIL collects credit data from various financial institutions, such as banks and non-banking financial companies, and maintains an extensive database of individuals’ credit histories and repayment behaviour. Lenders often rely on CIBIL’s credit reports and scores to assess borrowers’ creditworthiness and determine the credit terms they offer. 

Many Indians lack a credit history or have low scores due to being new to credit, having limited exposure, or having an unsatisfactory repayment record, and they even don’t understand how to know the CIBIL score. Due to a lack of credit history or low scores, it may be difficult for individuals to secure a loan without CIBIL from traditional lenders. 

Alternative Credit Scoring Techniques for Increased Financial Inclusion

To assess a borrower’s creditworthiness, these lenders may employ alternative credit scoring techniques such as analyzing bank account transactions, e-commerce transaction history, and many more. CIBIL plays a pivotal role in India’s credit market by providing reliable credit information to financial institutions. But with the emergence of fintech companies and online lenders, individuals now have more options for accessing credit without relying on traditional scoring methods for the loan without CIBIL. These alternative credit scoring approaches may help bridge the gap for those without credit history or low scores, thus increasing financial inclusion across a wider segment of society.

Listed Below Are The Factors To Consider Before Applying For An Instant Loan Without Cibil

  • Request A Small Loan Sum: To increase your chances of getting approved for an instant online loan without CIBIL, consider applying for a smaller loan amount. If you apply for a larger loan amount, in that case, the lenders may scrutinize additional factors to determine your creditworthiness and ability to repay the loan, which could lead to the rejection of your loan application.
  • Submit Your Application Along With A Guarantor: Individuals with a low CIBIL score or no score may be able to secure a loan without CIBIL by applying with a guarantor. The guarantor, who must have a good credit score, could be the applicant’s parent, sibling, or spouse for the loan without CIBIL.
  • Evidence Of Income: To apply for a loan without CIBIL, you must provide evidence of your income. It is recommended to provide comprehensive income details during the application process. When the lender knows you have a stable income and can repay the loan promptly without a CIBIL score, the likelihood of getting loan approval increases considerably.

How To Know The Cibil Score

To understand how to know the CIBIL score, you can use Bajaj Finserv Credit Pass online service. Listed below are the steps to know the CIBIL score:

  • Visit the Bajaj Finserv website and navigate to the ‘Credit Pass’ tab. 
  • Click the ‘Get It Now’ button to begin the application process. 
  • Enter your mobile number and verify it with the OTP sent to you. 
  • Upon successfully validating your mobile number, a new page will open. 
  • Fill in your contact details, including your name, phone number, and email address. 
  • Read and agree to the Terms & Conditions to proceed with your credit pass application. 
  • Pay a one-time subscription fee of Rs 99 to activate your Credit Pass. 
  • Once your payment is confirmed, you can access your Credit Health Report and other benefits.

Various Options To Get Instant Loan Without Cibil

  • Online Lenders: Certain online lenders such as Bajaj Finserv specialize in serving borrowers without credit history by considering alternative factors. These lenders may evaluate your educational background, including the college you attended, your area of study, and your great point average for the loan without CIBIL.
  • Cosigner: Having a cosigner with a good credit score can increase the likelihood of loan approval, but it does not guarantee it. Additionally, it can improve the chances of obtaining a low-interest rate and favourable repayment terms. Making timely monthly payments can also help establish a positive credit history for the loan without CIBIL.
  • Collateral Loans: Secured loans require the borrower to pledge an asset as collateral, increasing the likelihood of loan approval despite a lack of credit history. Collateral can include personal assets such as retirement accounts, cars, savings accounts, or jewellery.

Read Here More: The Full Form Of CIBIL: Unveiling Its Meaning And Significance


Instant loan without CIBIL may be available through certain lenders. It is essential to understand the significance of having a good credit score and how it impacts the loan application process. To determine how to know the CIBIL score, it is essential to utilize Bajaj Finserv Credit Pass online service and request a credit report. This report will give you an extensive overview of your credit history, including your CIBIL score, outstanding loans, credit card usage history, and payment records. By staying informed and exploring different options, individuals can find the best solutions to their financial needs.