Can CIBIL of 620 get 1 lakhs loan in India? Girish, 35 year old HR Manager in Noida, in a software company with low CIBIL of 614 got Rs. 1.3 Lakhs loan from Omozing.com. All the banks and normal NBFCs had rejected his loan application. Read how Omozing successfully processed his loan.
A CIBIL score of 620 can make it difficult to get approved for a loan from traditional banks and financial institutions in India. This can be especially frustrating for individuals like Girish, a 35-year-old HR Manager in Noida who works for a software company and has a low CIBIL score of 614. Despite his stable employment and good income, Girish faced rejection from all the banks and normal NBFCs when he applied for a loan.
However, Girish’s luck changed when he discovered Omozing, a digital lending platform that provides tailor-made solutions for money needs. Omozing is known for their innovative approach to lending, taking into account a borrower’s current financial situation and ability to repay, rather than just their past credit history.
Girish and his wife Smita, who is also employed, applied for a joint loan of Rs. 1.3 Lakhs with Omozing. The application process was quick and easy, and despite Girish’s low CIBIL score, Omozing’s thorough review resulted in the loan being approved.
With the loan, Girish and Smita were able to buy household appliances and improve their credit score in just four months. Omozing’s solution solved their complex money problem and provided them with the funds they needed to make their lives easier.
So, can a CIBIL score of 620 get a loan of 1 Lakh in India? The answer is yes, with alternative lending platforms like Omozing. Omozing provides a unique and innovative approach to lending, taking into account a borrower’s current financial situation and ability to repay, rather than just their past credit history. This is especially helpful for individuals like Girish who have a low CIBIL score but a stable income and employment.
By applying for a joint loan with his wife Smita, Girish was able to increase his chances of getting approved for a loan. This is a common strategy used by married couples to improve their chances of getting a loan. Joint loans can also result in a higher loan amount being approved, as the lender considers the combined income of both applicants.
In conclusion, a CIBIL score of 620 can get a loan of 1 Lakh in India with alternative lending platforms like Omozing. With their innovative approach to lending and thorough review process, Omozing provides hope and a solution for individuals with low CIBIL scores who need financing. Just like Girish and Smita, you too can benefit from a loan from Omozing and get on the path towards financial stability.
Read more related Blogs below: