News India Live, Digital Desk:Sometimes in life, there is a need for sudden money that one has to take a loan. But the difficulty is when the bankers see your CIBIL score and it comes out less. If you do not have a good CIBIL score, then getting a loan becomes crooked, and sometimes people get tired by circling the banks.
But now you do not have to take much tension! Even if your CIBIL score is a little weak, there are some ways to get a loan. Let us tell you some special methods that you can fulfill the need for your money by adopting:
1. Take ‘Joint Loan’ with someone together
This is a great jugaad! If you have a close friend, relative or knowing whose CIBIL score is good, then you can apply for ‘Joint Loan’ with him. In this, the person takes your guarantee (in a way becomes guarantor) and gives the loan easily by looking at the profile of both the bank. Just keep in mind that you should choose a person who has full faith in and which is ready to help you.
2. ‘Gold loan’ is evergreen partner
It is said that sleep is a difficult time! If your CIBIL score is low, the gold loan is a very easy option. You can take a loan by mortgaging a bank or gold loan company (eg NBFC), whatever gold jewelry or coins you have. Because this is a secured loan (ie the bank has your precious thing as a guarantee), it does not worry much about the CIBIL score. Typically, up to 75% of the current price of gold is found.
3. Are you employed? Try ‘Salary Loan’ or Advanced
Nowadays many good companies offer loans on advance salary or salary to help their employees. If you work somewhere, find out the HR policy of your company. May be your company also gives such facilities. The good thing in this is that many times the company does not take any interest or takes very little interest and the loan amount is slowly deducted from your upcoming salary. This can be a great option for those with low CIBIL scores.
4. NBFC can also talk
Suppose, your CIBIL score is low, you do not even have gold to mortgage and you are not even a job. Even then there is a way-non-banking financial company (NBFC). These companies often give loans on slightly less strict rules than banks. Yes, it is true that their interest rates are usually higher than banks, but they can remove your work in times of need.
5. Your savings (FD, LIC, PPF) can also provide loan
If you have saved a little bit, such as fixed deposits (FD), LIC policy or PPF, then you can easily get a loan instead. Banks give loans by considering these savings schemes as a guarantee, and the CIBIL score does not become a huge blockage in it. If all this is not there, then the option of taking a loan can be thought of by pledging any valuable items (which is good).
