Increase Cibil Score online 2024, Loan App, List, New Rule, Check All Details?

Introduction

Maintaining a good credit score is crucial for securing loans and credit cards at favorable interest rates. However, for those with low CIBIL scores, accessing financial assistance can be challenging. Fortunately, several loan apps and services have emerged to cater to individuals with low credit scores. This article provides an overview of the best loan apps for low CIBIL scores, new rules, and steps to improve your credit score online in 2024.

Best Loan Apps for Low CIBIL Scores

Several loan apps offer personal loans to individuals with low CIBIL scores. Here are some of the top options:

1. LazyPay: Offers quick and easy loans with interest rates ranging from 16% to 32% per year.
2. mPokket: Provides hassle-free loans with interest rates between 0% to 4% per month.
3. Indialends: Offers loans with interest rates ranging from 10.25% to 25% per year.
4. Bajaj Markets: Provides loans with interest rates ranging from 14% to 52% per year.
5. Money View: Offers loans with interest rates between 16% to 39% per year.
6. Bajaj Finserv: Provides loans with interest rates ranging from 12% to 34% per year.
7. Pocketly: Offers loans with interest rates between 14% to 39% per year.
8. Bueno Loans: Provides loans with interest rates ranging from 20% to 52% per year.

New Rule: RBI-Approved Loan Apps

The Reserve Bank of India (RBI) has approved several loan apps that cater to individuals with low CIBIL scores. These apps are affiliated with Non-Banking Financial Companies (NBFCs) and offer the convenience of applying for loans and submitting KYC documents online.

Also Check

• Line of Control: Army Chief General Upendra Dwivedi reviewed the security situation on the Line of Control
• LK Advani Hospitalised: LK Advani’s health deteriorated again, admitted to Apollo Hospital in Delhi
• Hathras stampede case: Judicial inquiry commission formed, Brijesh Kumar Srivastava becomes chairman; Know who else is included
• Another Chaotic Bunch Sprint Decides Stage 5 of the Tour de France
• Paige Spiranac Secures Sponsorship for Hot Dog Eating Challenge

How to Improve Your CIBIL Score

Improving your CIBIL score takes time and discipline. Here are some steps to follow:

1. Pay Bills on Time: Ensure timely payment of all bills and debts to avoid late fees and penalties.
2. Keep Credit Utilization Low: Maintain a low credit utilization ratio by keeping your outstanding debt below 30% of your credit limit.
3. Fix Errors on Your Credit Report: Regularly check your credit report for errors and dispute any inaccuracies.
4. Avoid Multiple Credit Inquiries: Limit the number of credit inquiries by avoiding multiple loan applications in a short period.

Maintaining a good credit score is essential for securing loans and credit cards at favorable interest rates. For those with low CIBIL scores, accessing financial assistance can be challenging. However, several loan apps and services have emerged to cater to individuals with low credit scores. By understanding the best loan apps, new rules, and steps to improve your credit score, you can make informed decisions about your financial well-being.