Can I get a Loan with a Credit Score of 600?

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Personal loans are one of the easiest loans to acquire. They are unsecured loans, which mean one does not need to offer collateral. They can be used for a multitude of purposes. There is minimal documentation involved and a relatively shorter processing time as well. However, one of the most important considerations when applying for a personal loan is your CIBIL score.

When you approach banks or money lending institutions for a credit card or personal loan, the first order of business is checking your credit score. Your credit score, or CIBIL (Credit Information Bureau Limited) score, is a record of your credit history, which includes the amount of credit availed by you, your ability to repay, etc.

Credit or CIBIL score is a number that tells the financial institution how responsible you are with your credit i.e., credit card repayments and loans. This number establishes your creditworthiness and helps lenders decide how much money they can lend you and at what interest rate.

Based on the information with the credit bureau, you are assigned a score, which ranges between 300 and 900. If you make timely payments of your bills and EMIs, you have a higher CIBIL score, but if you skip payments or fail to pay back the loan you have borrowed on time, your score gradually goes down.

Sometimes banks reject loan applications if the credit score is low, while sometimes, they charge a higher rate of interest. While the best measure is to have a good credit score, if you have a credit score between 600 and 700, you still can manage to secure a personal loan. The following are some of the best options.

CIBIL Score for Personal Loans

CIBIL score is a credit score provided by CIBIL, which is one of India’s leading credit information companies. The score reflects a person’s credit history based on their financial behaviour. It includes loans and repayments, credit card payments, and more. The score ranges between 300 and 900; the higher the score, the healthier the credit history is.

A lower credit score can hurt your chances of being approved for a credit card, home loan, and other products. Usually, a credit score of 750 or more is considered excellent. People with a score over 750 can expect better approvals for financial services like loans. A score over 700 is decent while getting a personal loan for a CIBIL score of 600 or lower can be difficult.


  • You have to be a salaried individual with an income of Rs. 35,000 per month or more
  • You should be aged between 25 years to 60 years
  • Should be a resident of India
  • You must be working for at least 6 months or more in the current organization
  • You must have at least 2 years of total work experience


  • You must provide your Aadhar number for the eKYC process.
  • Your ID Proof will be needed if the eKYC is not done
  • Your address proof if the eKYC is not done
  • Your salary slips for the last three months
  • Your bank statement for the last three months
  • Your rent agreement, if applicable

Personal Loans with Lower CIBIL Score

Since personal loans are versatile and easier to acquire, people use them for many reasons, including buying a vehicle or remodelling the house, getting married, and repay their other loans.

While a low CIBIL score would reduce the chances of getting approved for a personal loan, it is not impossible. Other factors that affect your chances of getting a loan include your status of employment, income, and credit report. The report is a more detailed account of your financial history. A clean report suggests that you practice healthy financial habits and are not a risky candidate.

Can you get a Loan if your Credit Score is below 600?

It is possible to get a personal loan even with a lower credit score, but you will have to go the extra mile to prove to the bank that you can pay it off.

  • Show Income Proof: Lenders want to know that you have regular income coming in every month. Steady income increases the chance of your personal loan getting approved. Although Grace was without a job for six months last year, now she has a steady income for over six months. This works in her favour.
  • File IT Returns: If you have filed your taxes for the last three years, lenders will look at it positively. Even if your income falls in a particular financial year, like it happened with Grace, make sure you continue to file your IT returns as it will serve as proof for future loan applications.
  • Provide Employment Proof: Grace should get a letter from her employer that shows her employment history. If lenders see that Grace has been gainfully employed for an extended period, they are more likely to approve her loan.
  • Have a Decent Bank Balance: Grace can’t have a bank balance that is close to zero. This won’t inspire confidence in the lenders. Lenders need to see that she is not living beyond her means and doesn’t have an extravagant lifestyle.

Where to get Low CIBIL Loans ?

Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at . We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.

5 Reasons to choose Omozing

1. Loans from INR 10k to INR 10 lakhs

Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 10,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months.  CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)

2. Cutomised Tailor Options

  • Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
  • You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
  • Flexible repayment options depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.

3. Lower CIBIL

While most lenders require borrowers to have a CIBIL score of over 750, at provide loans even with 600.  Besides the CIBIL score, we also considers your age, employment status, and net monthly income.

4. Ways to apply

You can apply for a personal loan through us by 2 ways:

1. You can download our Mobile Application from Google app store.

2. Apply on portal using out Personal Loan link

5. Prompt Loan Disbursal

An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account.

Documents Required  

Types of Loan

What are the Disadvantages of applying for Loan with a Credit Score of 600?

1. Application might be Rejected: A low credit score signifies that you have had a problem with repayment in the past and lenders will be unwilling to lend to a customer with such a credit profile. Each rejection will cause your credit score to drop further.

2. Higher Interest Rate: With a low score of 600, lenders will see you as a high-risk customer and will offer higher interest rates to safeguard their money. A higher interest rate can be an unnecessary financial burden and will also increase your chance of defaulting on payments.

3. Lower Credit Limit: Lenders will see your low score as a reflection of faulty credit behaviour and might be unwilling to offer you a high credit limit.