FAQs

To obtain a loan with bad credit, you can opt for a no-credit-check loan. This means the lender will not check your credit score with credit bureaus.

Several reasons can lead to a loan application being rejected: your profile is considered risky by the lender, you don't meet all the required conditions, or you are listed in a customer database of a banking institution (such as the FICP or FCC). Your budget may also be deemed insufficient.

Some online lending platforms accept borrowers with bad credit. They often offer user-friendly features, fast funding, and advice to help you improve your credit score. Keep in mind that some lenders may charge origination fees, typically between 1% and 10% of the loan amount.

To obtain an instant no refusal payday loan despite a low CIBIL score, you can consider applying with a co-applicant or a guarantor. Ask a parent, your spouse, or your siblings to act as a guarantor. Make sure the co-applicant has a good CIBIL score at the time of application.

If you have been turned down by a bank, there are reputable lending institutions that offer flexible and customizable financing options, even if you have had financial difficulties in the past.

After a loan rejection, it's best to wait a while before applying again. Wait at least 30 days, or even six months, to increase your chances of approval. Use this time to address the reason for the initial rejection.

By opting for a personal loan, you can borrow an amount ranging from $100 to $20,000, depending on your needs.

The maximum amount granted for an unsecured consumer loan can reach $75,000, but it is usually capped at $20,000. The loan term generally ranges from a few months to a few years, rarely exceeding 5 to 7 years.

It is possible to get a loan without a job by having a co-signer or co-borrower, demonstrating an alternative source of income, or providing collateral. Lenders won't discriminate against you because you're unemployed, but they will want to ensure you have the ability to repay the loan in some way.

The initial approval for a loan is handled by the bank. However, the final decision takes into account the opinions of the guarantor and the insurance company.