What will be the chances of getting a consumer loan if the CIBIL is -1 for a salaried person?
If a salaried person has not availed any Loan, there are 3 cases :
- The person has Credit Cards for last 6 months for which he paid his bills on or before due date, then he is likely to have aCIBIL score of 700+ which indicates decent Credit History.
- The person has Credit Cards for less than 6 months, in this case his/her CIBIL score maybe between 1–5 which indicates Insufficient Credit History.
- The person has no Credit History whatsoever. He/she has not availed any Credit Cards in the past as well and has no prior Loans. In such cases,the CIBIL Score is likely to be -1 which indicates NO Credit History.
In any of the above 3 listed cases, the person has no restrictions for availing any Loans that also includes Consumer loans from select Banks and NBFCs. In fact, they can also avail Personal, Auto, Gold loans and also Credit Cards.
We will also help you to improve your Credit Score. We have dedicated Relationship Managers who assist you at every step of the process. We can also help you in Balance Transfers that will help you reduce your Interest Outgo.