Instant Personal Loans Without CIBIL — Facts & Caution
Some lenders offer small-ticket personal loans based on income, employment, or alternative data instead of traditional credit scores. However, interest rates and fees can be higher, and eligibility can be strict.
Who Can Consider
- First-time borrowers with steady income
- Gig workers with bank statements showing cash flow
- Salaried individuals with employer verification
Typical Documents
- Identity and address proof (Aadhaar/PAN)
- Bank statements (last 3–6 months)
- Salary slips or ITR as applicable
Things to Check Before You Apply
- Total cost (interest + processing fees + any insurance)
- Repayment tenure and prepayment charges
- Whether the lender reports to credit bureaus to help you build credit
Disclaimer: This article is for information only, not financial advice. Verify details on the lender’s official website before applying.