Last Updated on May 22, 2023 by Harshit Singh

Financial emergencies might spring up at any time; when they do, many of us usually withdraw our savings. However, when you don’t have sufficient savings or do not want to redeem your investments, you can apply for an instant personal loan. Many banks have made acquiring a personal loan easy, and you can easily get an instant loan without credit score.

These instant personal loans offer funds at the earliest so that you can meet your financial obligations. However, in some instances, when you apply for such loans, the lender checks your credit score before sanctioning the funds.

But what is a credit score? And how does it impact your process of borrowing? Let’s read further.

What is a credit score?

The credit score is a numerical figure ranging between 300 and 900. It measures a borrower’s creditworthiness, i.e., can the borrower repay the loan sought? 

Authorised credit bureaus like TransUnion CIBIL calculate and publish the credit score. It has, in fact, come to be called the CIBIL score. Other credit agencies such as Equifax, Experian, and CRIF Highmark also conduct credit analysis and assign scores. The score is calculated based on your past credit patterns and credit history. 

For borrowers with a good credit score, like 650-700, can easily get the loan, whereas someone with a low CIBIL score or no CIBIL score can get a loan through these means – 

7 ways to get an instant loan without a credit score

Secured loan options

If you want to secure an instant loan without a credit check, the easiest way is to apply for a secured loan. It is granted against an asset that you mortgage with the lender. The loan amount is equivalent to or lower than the asset, as, in case of default repayment, the lender can seize and sell the asset to recover the loan amount.

Pro tip: You can apply for a secured loan by mortgaging assets such as gold, securities, real estate, etc., and get an instant loan against their value.


It is a process when a co-borrower, preferably a related individual, applies for the loan with you. When you add a co-borrower, the co-borrower’s credit eligibility is considered. It enhances the overall eligibility qualifications and allows lenders to offer you the loan even without a credit score.

Pro tip: Look for a co-borrower with a high credit score and a stable source of income to get the funds easily and instantly. 

Add a guarantor

A guarantor is different from a co-borrower. A co-borrower shares the loan responsibility; conversely, a guarantor promises to repay the loan if you fail to do so. By adding a guarantor, the lender is assured of the repayment, so the loan is offered easily.

Pro tip: Choose a guarantor with sound financial standing and a high credit score.

Apply for a small loan amount

Few banks easily sanction small loans without a CIBIL score. It usually happens when the default repayment is small. For someone who doesn’t have a low or no CIBIL score, it is an opportunity to build creditworthiness by paying the loan amount according to the repayment plan. 

Pro tip: The small loan amount usually comes with similar high-interest rates. Therefore, consider the interest rate before applying for a small loan.

Look for NBFC or HFC lenders

Non-Banking Financial Companies (NBFCs) or Housing Finance Companies (HFCs) have lenient loan sanction conditions. You can reach out to them for an instant loan when you don’t have a credit score. Such financial institutions might offer you the loan at relaxed eligibility parameters.

Pro tip: Compare the NBFCs and HFCs willing to offer you the loan. The interest rate would be higher since the institutions take a significant risk in sanctioning the funds. When you compare, you can find the best rate on the loan.

Get an NA/NH remark on the report

A Not Applicable (NA) or a No History (NH) remark on the credit report means you are new to the credit world. This shows that you have never availed credit so far. Many lenders make a concession for reports with the NA or NH remark. So, get this remark from the credit bureau and then apply for the loan.

Pro tip: Despite the NA or NH remark, not all lenders might be willing to offer the loan. You would have to find potential lenders who would be interested in advancing the funds.

Get a loan on your income proof

Instant personal loans are usually issued based on your income. Therefore, by showing a stable source of income through your salary slips or audited financial statements, if the lender finds your income level desirable, they would mostly sanction the loan.

Pro tip: When submitting your income proof, submit a statement that shows all your income sources, like the ITR. If you have multiple sources of income, it improves the chances of loan sanction.


Securing an instant loan without a credit score is not impossible in India. Use the ways mentioned in this blog to avail an instant personal loan for financial emergencies even when you don’t have a credit score or if your credit score is too low to qualify for the loan. 


Can I get a loan without a credit score?

You might not have a credit score if you have never availed a loan or credit card. Alternatively, if you have a poor credit history, i.e., if you had defaulted on your past loans, your credit score would be low.

Not having a credit score or a very low CIBIL score can lead to the rejection of your loan application. However, when it comes to instant personal loans, there are ways mentioned in this blog in which you can avail a loan even without a credit score.

Can I get an instant loan without income proof?

Certainly! To obtain an instant loan without income proof, it is essential to have a co-borrower or guarantor who can bear the responsibility on your behalf.

Can I apply for a short-term loan without a CIBIL score?

The CIBIL score is an indicator of an individual’s creditworthiness. In the case of a low or nonexistent CIBIL score, a lender may hesitate to approve a loan. However, by implementing the methods described in this blog, you can successfully apply for and obtain a short-term loan even without a CIBIL score.

Harshit Singh
Latest posts by Harshit Singh (see all)
Notify of
Inline Feedbacks
View all comments

The blog posts/articles on our platform are purely the author’s personal opinion and do not necessarily represent the views of Anchorage Technologies Private Limited (ATPL) or any of its associates. The content in these posts/articles is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, please consult a professional financial or tax advisor. The content on our platform may include opinions, analysis, or commentary, which are subject to change, without notice, based on market conditions or other factors. Further, the use of any third-party websites or services linked on the website is at the user's discretion and risk. ATPL is not responsible for the content, accuracy, or security of external sites. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The examples and/or securities quoted (if any) are for illustration only and are not recommendatory. Any reliance you place on such information is strictly at your own risk. In no event will ATPL be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

By accessing this platform and its blog section, you acknowledge and agree to the Terms and Conditions of this website, Privacy Policy and Disclaimer.