Your CIBIL™ score is a summary of the risk that the lender will have to take while lending you some form of credit. This is why your credit score is important for lenders. Knowing your credit score and constantly working towards its improvement can get you a better loan deal, irrespective of whether you apply for a larger loan amount or want competitive interest rates while availing a loan. 

Before applying for a loan or credit card, the first thing that you must do is learn how to check your CIBIL™ score online.  However, what if your credit score is too low? A credit score below the range of 700 is not preferred by lenders. In such cases, you may find it difficult to borrow any form of credit easily. 

So, what can you do about a low CIBIL™ score? Can you still borrow? The answer is yes! You can work towards increasing your CIBIL™ score or you can use some smart tips to borrow funds. Here we share some smart tips that you can use to borrow despite having a low credit score:

  1. Maintain sufficient balance in your bank account

If lenders find your credit score low, you can gain some advantage by maintaining a sufficient balance in your bank account. If you have enough funds in your savings or current account, you can manage to convince lenders about your ability to repay loans in case you borrow. It is also a reflection of your money management ability. Lenders look for some form of assurance or backing for the loan or credit that they provide. Thus, submitting your bank statements for the last 6 months while applying for a loan can work in your favour despite having a poor credit score.

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  1. Be a responsible taxpayer

If you have been filing your taxes on time every year, it can be a sign that you are diligent about your finances. Thus, you can submit your IT returns for the past 3 years while availing of a loan from lenders. This will help in assuring the lender that you can maintain good financial habits.

  1. Furnish proof of job and income stability

Apart from a bank balance, lenders can consider your employment and earning potential while giving a loan with a low CIBIL™ score. If you have a stable job at a reputed organisation, lenders may feel more comfortable about your ability to repay the loan and may easily approve your loan application. Similarly, if you can furnish proof about consistent earnings in the last year through a stable job, you can borrow at reasonable credit terms. You may try to submit your salary slips for the last 6 months to assure lenders about your job and income stability.

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  1. Borrow with a co-applicant

To get lenders to approve your loan or credit card application despite having a low credit score, try and apply with a co-applicant who could be a family member or spouse. The co-applicant should have a good CIBIL™ score and a stable source of income. This will assure lenders that you will be able to make the repayment along with the co-borrower. If the co-applicant has a good credit score, the lender can be assured of his/her credit behaviour and may grant the loan or credit card easily.

  1. Opt for lenders who have flexible eligibility terms

If you are struggling with a low credit score but still require a loan or credit card, you can try to apply with lenders who have simple or flexible eligibility terms for borrowers. This way, you can fulfil the other criteria and explain your current financial situation with the help of your bank account balance, IT returns, and job stability. However, it is important to check whether the lender is giving loans at a higher interest rate while allowing flexibility in eligibility criteria.


While maintaining a good credit score is very important for seeking better credit opportunities, you do not have to be disheartened about a low score. With a few smart tips put into action, you can still avail of a loan or credit and fulfil your personal financial goals. While availing of a loan, you can continue to work towards a better credit score for the future.


  1. Can I get a loan with a 450 credit score?

A 450 credit score is considered a bad credit score by most lenders. With this credit score, you may find it difficult to qualify for a loan or credit card. It is best to start working towards improving your credit score before making a loan or credit card application.

  1. Is 650 a good CIBIL™ score in India?

A credit score of 650 is considered below-average and some lenders may not prefer to easily lend credit with this score. It is ideal to work towards a score of at least 700 to avail of better loan or credit terms.

  1. Can CIBIL™ defaulter get a loan?

A loan defaulter may find it very difficult to get a fresh loan or credit card since his credit history will reflect default on repayment and lenders may lose trust in the borrower’s repayment ability. Make use of our credit improvement services to improve your credit score and make it easy to secure a loan. 

  1. What is the fastest way to build credit?

With actions like timely loan repayment, credit card bill payment, lower credit utilisation ratio, regularly checking credit reports, etc, one can work towards building credit fast.

  1. How many points can a credit score increase in a month?

The amount of time taken to improve credit scores could differ across borrowers. If a borrower has had a good credit track record, it may be easier to raise points faster. On the other hand, if a borrower has had a poor credit track record, he/she will take a long time to improve his credit score.