Banks and NBFCs that approve personal loans with credit scores as low as 600. Sorted by minimum CIBIL requirement.
One of the most lenient NBFCs for credit score requirements. Offers pre-approved loans for existing customers even with lower scores. Quick 24-hour disbursal.
Considers applicants with scores as low as 650. Flexible documentation and income requirements. Strong digital application process.
Competitive rates among banks that accept lower credit scores. Instant loan approval for existing account holders with pre-approved offers.
Sorted by minimum credit score (lowest first). Eligibility based on ₹50,000 monthly income.
| Bank | Interest Rate | Min Income | Min CIBIL | Eligible (₹50K) | Processing Fee | |
|---|---|---|---|---|---|---|
| SBI | 11.15 - 14.30% | ₹20,000/mo | 700 | ₹7.16 L | 1.50% of loan amount + GST | Check Eligibility → |
| Bank of Baroda | 10.60 - 14.50% | ₹20,000/mo | 700 | ₹7.22 L | 2% of loan amount + GST | Check Eligibility → |
| PNB | 10.40 - 14.85% | ₹20,000/mo | 700 | ₹7.24 L | 1% of loan amount + GST | Check Eligibility → |
| Canara Bank | 10.55 - 14.20% | ₹20,000/mo | 700 | ₹7.22 L | 1% of loan amount + GST | Check Eligibility → |
| Union Bank | 10.80 - 14.50% | ₹20,000/mo | 700 | ₹7.20 L | 1% of loan amount + GST | Check Eligibility → |
| Indian Bank | 10.30 - 14.15% | ₹20,000/mo | 700 | ₹7.25 L | 1% of loan amount + GST | Check Eligibility → |
| IDBI Bank | 10.50 - 14.50% | ₹20,000/mo | 700 | ₹7.23 L | 1% of loan amount + GST | Check Eligibility → |
| Bank of India | 10.85 - 14.85% | ₹20,000/mo | 700 | ₹7.19 L | 1.50% of loan amount + GST | Check Eligibility → |
| Central Bank | 10.70 - 14.70% | ₹20,000/mo | 700 | ₹7.21 L | 1% of loan amount + GST | Check Eligibility → |
| Bajaj Finserv | 11.00 - 30.00% | ₹20,000/mo | 700 | ₹7.64 L | Up to 3.50% | Check Eligibility → |
| Tata Capital | 10.99 - 24.00% | ₹20,000/mo | 700 | ₹7.64 L | Up to 3% | Check Eligibility → |
| Muthoot Finance | 14.00 - 24.00% | ₹20,000/mo | 700 | ₹7.31 L | 2% + GST | Check Eligibility → |
| Manappuram Finance | 22.00 - 28.00% | ₹20,000/mo | 700 | ₹6.55 L | 2.50% + GST | Check Eligibility → |
| L&T Finance | 12.00 - 28.00% | ₹20,000/mo | 700 | ₹7.53 L | Up to 4% | Check Eligibility → |
| Piramal Finance | 14.00 - 26.00% | ₹20,000/mo | 700 | ₹7.31 L | Up to 4% | Check Eligibility → |
| Mahindra Finance | 14.00 - 24.00% | ₹20,000/mo | 700 | ₹7.31 L | Up to 3% | Check Eligibility → |
| Hero FinCorp | 12.00 - 24.00% | ₹20,000/mo | 700 | ₹7.53 L | Up to 3% | Check Eligibility → |
| HDFC Bank | 10.50 - 21.00% | ₹20,000/mo | 725 | ₹6.92 L | Up to 2.50% of loan amount | Check Eligibility → |
| ICICI Bank | 10.75 - 19.00% | ₹20,000/mo | 725 | ₹6.90 L | Up to 2.50% of loan amount | Check Eligibility → |
| Axis Bank | 10.49 - 22.00% | ₹20,000/mo | 725 | ₹6.92 L | Up to 2% | Check Eligibility → |
| Kotak Mahindra Bank | 10.99 - 24.00% | ₹20,000/mo | 725 | ₹6.87 L | Up to 2.50% | Check Eligibility → |
| IndusInd Bank | 10.49 - 26.00% | ₹20,000/mo | 725 | ₹6.92 L | Up to 3% | Check Eligibility → |
| Yes Bank | 10.49 - 20.00% | ₹20,000/mo | 725 | ₹6.92 L | Up to 2.50% | Check Eligibility → |
| Federal Bank | 10.49 - 17.99% | ₹20,000/mo | 725 | ₹6.92 L | Up to 3% | Check Eligibility → |
| Bandhan Bank | 11.00 - 18.00% | ₹20,000/mo | 725 | ₹6.87 L | Up to 3% | Check Eligibility → |
| IDFC First Bank | 10.49 - 23.99% | ₹20,000/mo | 725 | ₹6.92 L | Up to 3.50% | Check Eligibility → |
| South Indian Bank | 11.00 - 16.00% | ₹20,000/mo | 725 | ₹6.87 L | 2% of loan amount + GST | Check Eligibility → |
| Karur Vysya Bank | 11.50 - 17.00% | ₹20,000/mo | 725 | ₹6.82 L | 2% of loan amount + GST | Check Eligibility → |
Know your exact eligible loan amount based on your income, existing EMIs, and credit profile.
Open Eligibility Calculator →Yes, some NBFCs like Bajaj Finserv and Tata Capital may approve personal loans with a CIBIL score of 600–650. However, the interest rate will be higher (16–24% p.a.) compared to applicants with 750+ scores.
NBFCs are generally more flexible than banks. Bajaj Finserv, Tata Capital, and L&T Finance consider applicants with lower credit scores. Among banks, IDFC First Bank and IndusInd Bank may approve with scores around 650.
Options include: applying with NBFCs that have flexible criteria, taking a secured personal loan against FD or gold, applying with a co-applicant who has good credit, or getting a small-ticket loan to rebuild your score first.
With a CIBIL score of 600–650, expect personal loan interest rates of 16–24% p.a. This is significantly higher than the 10–12% offered to applicants with 750+ scores. Improving your score before applying can save lakhs in interest.
It typically takes 3–6 months of consistent on-time payments, low credit utilization (below 30%), and no new credit inquiries to see a meaningful improvement. Clearing overdue accounts can boost your score by 50–100 points.