It is possible to get a personal loan without having any credit history, it can be hard. Here are a few tips to keep in mind when applying for a personal without any credit history

1. Apply with a guarantor: If you apply for a loan with a guarantor who has a good and stable job with a good credit history, this can help with getting a personal loan. A guarantor is a person who will need to pay for your loan if you cannot afford to repay it. So, ensure that your guarantor has a good credit score and a good credit history so that they can prove to the bank as a reliable source to give you your loan. 

2. Try a score builder loan: There are special credit builder loans for people who are new to credit, wherein the loan amount that you borrow is held in a bank account while you make your payments to the bank. Your on-time payments are reported to the credit bureau, thereby helping you build your credit score and history. The money is then released to you once the loan amount is paid off. These are also called Fresh Start Loans.

3. Good income: A steady job with a reputed company can help you get a personal loan. If the company you work for is a listed company with the bank you are applying for a loan with, then there is a possibility of getting your loan approved. Also, you must have been working for the same company for a minimum of 2 years or more. Proof such as pay slips and bank statements can help you get a personal loan in these cases. 

4. Try a gold loan: If you are new to credit and looking for money for a sudden financial emergency, getting a loan against gold would be a sensible idea. You can pledge your gold and get a secured loan to use for your financial crisis. Also, the repayment of this loan will help you build your credit score and history. 

5. Have a good relationship with bank: If you are an existing customer with the bank you are borrowing from and have maintained a healthy relationship with them, then there are higher chances of getting personal loan from them. Long standing relationships come in handy at these times. 

There are many Banks that offer personal loans such as ICICI Bank, HDFC Bank, IndusInd Bank, RBL, SBI and more. There are also many Non-Banking Financial Companies (NBFCs) that offer personal loans such as Bajaj Finserv, Tata Capital and Fullerton. 

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