{"id":1278,"date":"2026-03-03T05:50:01","date_gmt":"2026-03-03T05:50:01","guid":{"rendered":"https:\/\/oolka.in\/blog\/?p=1278"},"modified":"2026-03-03T19:24:49","modified_gmt":"2026-03-03T19:24:49","slug":"loan-with-low-credit-score-india","status":"publish","type":"post","link":"https:\/\/oolka.in\/blog\/loan-with-low-credit-score-india\/","title":{"rendered":"Can You Get a Loan With a Low Credit Score in India?"},"content":{"rendered":"\n

You need a loan. Maybe for a medical emergency, a wedding, or to grow your business. You apply, but the bank says “No.” The reason? “Low credit score.”<\/strong><\/p>\n\n\n\n

Rohan, 31, a mobile shop owner in Gwalior. Three years ago, he missed two EMIs because his shop was closed during a local strike. He eventually paid back every paisa. But today, when he needs a business loan to stock up for Diwali, the big banks won’t even look at his file.<\/p>\n\n\n\n

“But I paid it all back!” he tells the manager.<\/p>\n\n\n\n

“Doesn’t matter, sir. The system says your score is 610. We can’t help.”<\/p>\n\n\n\n

The shame feels heavy. You feel like a failure because of a mistake from years ago. Here\u2019s what nobody told you:<\/strong> A low credit score isn’t a life sentence. It\u2019s just a number that banks use because they\u2019re too lazy to look at the real you.<\/p>\n\n\n\n

You can<\/em> still get a loan. You just need to know where to look and how to prove you\u2019re reliable.<\/p>\n\n\n\n

Find out exactly why your score is low:<\/strong> Check your Experian report on Oolka \u2192<\/a><\/p>\n\n\n\n

Is 610 or 680 a “Bad” Score?<\/strong><\/h2>\n\n\n\n

In India, we use a scale of 300 to 900. Here is how the reality of loan approvals looks today:<\/p>\n\n\n\n

Score Range<\/strong><\/td>What It Means<\/strong><\/td>Loan Reality<\/strong><\/td><\/tr>
750 – 900<\/strong><\/td>Excellent<\/strong><\/td>Pre-approved, 9-11% interest. Banks chase you.<\/td><\/tr>
650 – 749<\/strong><\/td>Fair<\/strong><\/td>Conditional approval. 13-16% interest. More paperwork.<\/td><\/tr>
Below 650<\/strong><\/td>Low<\/strong><\/td>Main banks say “No.” NBFCs might say “Yes” at 18%+.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Oolka Tip:<\/strong> If your score is low, don’t just keep applying. Every rejection drops your score by another 5-10 points. Oolka shows you your Experian score so you only apply when you\u2019re ready.<\/p>\n\n\n\n

How to Get a Loan Even With a Low Score<\/strong><\/h2>\n\n\n\n

If the big banks have closed their doors, don’t worry. There are other ways to get the funds you need.<\/p>\n\n\n\n

1. The “Friendlier” Lenders (NBFCs)<\/strong><\/h3>\n\n\n\n

Non-Banking Financial Companies (like Bajaj Finserv, Tata Capital, or Muthoot) are often more flexible than big banks. They might look at your monthly income<\/strong> and job stability<\/strong> rather than just your past mistakes.<\/p>\n\n\n\n