If you have bad credit, you may have a difficult time getting a loan. But that doesn't mean you can't get a loan. In fact, there are lenders who specialize in helping people with bad credit get loans. They can help you get the money you need to continue living your life.

  • The best option for unemployed people with a bad credit score is to go for a secured loan against gold or property. 
  • This is a quick process as you can approach the closest lender and pledge your gold or asset for a loan. 
  • This process is easy as minimal documentation is required for the loan approval. 
  • These loans have lower interest rates than a personal loan or credit card loan as they are secured. 
  • Tenures are flexible. 
  • Another option would be a personal loan. This is harder to get as it is unsecured. The interest rates will be high and non-negotiable.
  • Before applying for a loan, ensure that you have documentation to support a stable income of any sort. You can also pledge any collateral to secure a loan. 
  • You can also learn how to improve your credit score by following a few basic changes in your financial management. 
You could opt for Credit Mantri’s Credit Improvement Service (CIS) and better your credit score so that you can avail loans at low interest rates.