What is the minimum credit score for a loan?

What is the minimum credit score for a loan?

It is generally advisable to have a credit/CIBIL™ score of 750 or above to qualify for a personal loan Your credit score is a three-digit number between 300 and 900 that gives potential lenders a quick idea of your credit health.

Can I get a car loan with a 500 credit score?

If you're a super prime borrower with a credit score of 781 or higher, you can expect to get the lowest rates. … If you're a deep subprime borrower with a credit score of 500 or below, you can expect to pay a rate that's about 10 percent higher than what a super prime borrower will pay.

Can you get a loan with a 550 credit score?

It's very difficult to get an unsecured personal loan with a credit score under 550 on your own, without the help of a co-signer whose credit score is higher. Even the loans with the most lenient approval standards require a credit score of 585.

Can I get a car on hire purchase with bad credit?

HP can be easier to get than a standard, unsecured loan for people with poor credit histories (as the car is used as collateral). It's possible you might be able to get 0% finance, though this is often reserved for those with large deposits. Monthly payments are higher than for PCP and leasing deals.

Can I get a 10000 loan with bad credit?

If you're looking for a $10,000 loan, there are lenders that offer one-day turnaround. … Applicants with bad credit can access these loans through non-traditional lenders, while those in better credit standing may be able to apply with their own bank for quick approval.

Will my bank give me a loan with bad credit?

You can get a personal loan from a bank, credit union or online lender. … Lenders view borrowers with average or bad credit as higher risks, and some may not offer loans as a result. But a bad credit score doesn't mean you can't get a personal loan.