{"id":3762,"date":"2018-05-08T08:18:52","date_gmt":"2018-05-08T02:48:52","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=3762"},"modified":"2018-05-08T08:18:52","modified_gmt":"2018-05-08T02:48:52","slug":"personal-loans-cibil-defaulters","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/personal-loans-cibil-defaulters\/","title":{"rendered":"Personal Loans for CIBIL Defaulters"},"content":{"rendered":"<h3>CIBIL defaulters<\/h3>\n<p>Every step of your financial journey is recorded in your CIBIL record. If an individual has defaulted on loan payments and credit card payments, their name will be listed in the CIBIL defaulters list. Being a CIBIL defaulter is not a good sign and may lead to banks rejecting your application for loans and credit cards.<\/p>\n<h3>Personal loan for CIBIL defaulters in India<\/h3>\n<p>Though it is hard for CIBIL defaulters to avail loans and credit cards. There are a few banks and financial institutions that still grant loans and credit cards to CIBIl defaulters in India. Personal loans are usually the toughest to avail for CIBIL defaulters since the risk is higher for the lender when it comes to personal loans.<\/p>\n<h3>How to avail a personal loan in India if you are a CIBIL defaulter?<\/h3>\n<div class=\"pull-right top-pad btm-pad tax-img-responsive\"><\/div>\n<p>Being a CIBIL defaulter is not considered as a good sign since banks and financial institutions are less likely to grant loans and credit cards to CIBIL defaulters. Listed below are the steps that an individual can follow in order to get a personal loan if they are a CIBIL defaulter.<\/p>\n<ul>\n<li><strong>Opt for loans with higher rate of interest-<\/strong>Most of the banks and financial institutions and banks offer personal loans to CIBIl defaulters but at a higher rate of interest. Banks will be willing to offer the individual personal loans despite them being a CIBIL defaulter but only at a higher rate of interest.<\/li>\n<li><strong>Collateral loans-<\/strong>Banks are most likely to focus less on your\u00a0CIBIL report\u00a0if you opt for collateral personal loans. Taking personal loan against collaterals such as assets, fixed deposits and shares will get the banks and financial institutions to ignore your bad CIBIL history or score.<\/li>\n<li><strong>High income-<\/strong>An individual with a high income has higher chances of availing a personal loan despite being a CIBIL defaulter. A high salary indicates your ability to repay the loan. Banks tend to trust applicants with higher income more over applicants who earn an average income.<\/li>\n<li><strong>Spouse\u2019s CIBIL score-<\/strong>It can be tough to avail personal loans if you are a CIBIL defaulter and have a bad CIBIL score. Another way to avail personal loan in such a situation is by using your spouse\u2019s CIBIL score to avail a loan. You can make your spouse a joint loan holder if they have a good CIBIL score for your personal loan.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CIBIL defaulters Every step of your financial journey is recorded in your CIBIL record. If an individual has defaulted on loan payments and credit card payments, their name will be listed in the CIBIL defaulters list. Being a CIBIL defaulter is not a good sign and may lead to banks rejecting your application for loans &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/personal-loans-cibil-defaulters\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Personal Loans for CIBIL Defaulters&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3762","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Personal Loans for CIBIL Defaulters | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/personal-loans-cibil-defaulters\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Personal Loans for CIBIL Defaulters | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"og:description\" content=\"CIBIL defaulters Every step of your financial journey is recorded in your CIBIL record. 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If an individual has defaulted on loan payments and credit card payments, their name will be listed in the CIBIL defaulters list. 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