India Business Wire
Finnable, one of India’s fastest growing financial startups, now offers no credit score loans. An individual can avail a personal loan from Finnable online without any hassle. This comes as a welcome relief for people who have no credit score and are looking to take out a loan. Additionally, applicants can also check the EMI they are expected to pay each month with Finnable’s Personal Loan EMI Calculator.
For those looking to take advantage of an instant loan with no credit scorethey must take into account the following points:
Ask for a small amount
It is generally recommended to opt for a smaller amount whenn apply for a instant loan. Indeed, the smaller the amount, the more likely it is that lenders will approve it. On the other hand, loan applications for a higher amount may be rejected as lenders look for various aspects that might determine the ability of the applicant to repay it in full.
Apply with a guarantor
Generally, there is no need for a guarantor when applying for an online loan. That said, IIf the person has a low or no credit score, he can avail it from a guarantor. The guarantor can be anyone from the applicant’s parents to siblings or spouse. The only requirement is that the guarantor has a good credit rating.
proof of income
Apart from all this, the applicant will also have to produce proof of income at the time of application. Indeed, if the lender feels that the applicant has a stable income and has the ability to repay the loan on time, the chances of loan approval increase significantly.
- The instant loan application process on Finnable is simple and completely online. Here are the steps an applicant needs to follow to qualify for an instant loan:
- Individuals can apply for an instant personal loan with no credit score on Finnable’s website or through their personal loan application.
- They just need to create an account, register and add professional information such as age, job, etc.
- Then, the applicant will have to choose the amount for which he wishes to benefit from a loan. As a final step, upload their identity documents such as PAN card, Aadhaar card, etc. He/she will also need to produce his/her income proof documents, such as payslips and bank statements.