We want to tell you that The Airtel Flex credit mobile app is a helpful app that offers personal loans to customers with poor CIBIL scores. Using the Airtel Flex Credit App, you can receive up to 9 lakh rupees in personal loans online. The bank currently has three lending partners that offer appropriate loans to customers with low CIBIL scores. Here are the steps to apply online for a Bad Credit Score Loan in 2023
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Poor Credit Score Loan in 2023
A CIBIL score is a three-digit number given by banks and financial companies to their customers. CIBIL scores range from 300 to 900. A higher score means higher trustworthiness. If your CIBIL score is over 750, it’s considered good, and you’ll get larger loans with lower interest rates from any bank or company. However, if your CIBIL score is less than 550, it’s seen as bad. Many factors can lower your CIBIL score, but the most common mistakes are not repaying loans on time and maxing out your credit limit. If you do these things, your CIBIL score will drop, making getting a personal loan with reasonable interest rates harder. Banks might offer personal loans with high interest rates, ranging from 15% to 37% annually.
Loan Eligibility Criteria for Poor Credit Score in 2023 To be eligible for a loan, you must:
- Be an Indian citizen.
- Be at least 21 years old.
- Have a steady source of income from either a job or a business.
- Not have any existing loans from other companies.
- When applying for a Poor Credit Score Loan in 2023, please be aware that you may be charged higher interest rates, ranging from 15% to 37%, depending on your eligibility.
Documents Needed for a Poor Credit Score Loan in 2023 When applying for a bad CIBIL score personal loan online, you will need to provide the following documents:
- Aadhar card
- Pan card
- Bank account details
- The last six months’ bank statements
- Proof of income source
- The applicant’s mobile number and email ID
A smartphone with internet connectivity is also required.
Apply Online for Loans with Poor Credit History The Airtel Flex credit mobile app is useful for individuals with low credit scores. You can access personal loans of up to 9 lakh rupees through the app. Currently, three lending partners work with the bank to offer loans to those with bad CIBIL scores. Here’s how to apply for a Bad Credit Score Loan in 2023:
- Go to the Play Store or App Store on your mobile phone and install the Airtel Flex credit app.
- Register by providing your mobile number and personal information.
- Enter your banking details and complete the E-KYC process.
- Upload the required documents.
- You will receive loan approval through the app’s dashboard.
- Click the “Apply now” link and review the loan terms and conditions.
Select the loan amount and EMI option within the app, then click on the “Apply” link for a Bad CIBIL Score Loan.
You will receive an OTP message on your mobile, which you must enter in the app.
- After this, your application will be successfully submitted, and the loan amount will be deposited into your bank account. Remember that the bank will deduct processing fees and other charges from the loan amount, and the remaining funds will be transferred to your account.
- If you apply through the app for the first time, you may receive a lower loan amount initially. However, you can apply for higher loan amounts as you consistently repay your loans on time.
- Timely repayment of loans through the app can also help improve your CIBIL score, making it easier to qualify for personal loans from other sources with a better credit score.
After this, your application will be accepted, and you’ll receive the loan amount in your bank account. Remember, the bank will subtract processing fees and other charges from the Low Cibil Score loan amount before transferring the remaining sum to your account. If you’re applying through this mobile app for the first time, you’ll initially get a lower personal loan amount. Once the bank successfully processes your loan application, you’ll receive a notification to apply for a higher loan amount despite having a poor CIBIL score for personal loans. The company will also enhance your CIBIL score if you promptly repay the loan, enabling you to obtain personal loans from other sources with a good CIBIL score.
