CIBIL SCORE: CIBIL score has become such an important tool, with the help of which we get loan easily. The loan potential increases when it is good.
In today’s era, Cibil Score has become such an important tool, with the help of which we get loan easily. The better it is, the greater the chances of getting a loan. But there are problems for those whose CIBIL score has deteriorated due to some reason, but there is no need to panic. Despite the poor Cibil Score, loans can be taken in some other ways.
Gold loan:
It is said about gold that it is used in bad times. This is the reason why people do not give up the temptation to sleep. To take a loan, you can keep your gold as a security. There is no need for a credit score. Money can be taken in lieu of gold as per the need.
NBFC:
You can also apply for loan in NBFC (Non Banking Financial Company). Through this, loans, shares, bonds, debentures, securities issued by the government, local authority or other marketable securities and business advances are given. One gets a loan despite a bad CIBIL score.
Fixed Deposit:
If needed, you can also take a loan from your FD (Fixed Deposit). However, on this, you have to pay 1 to 2 percent more than the interest received on your FD. For example, if you are getting 4 percent interest on FD, then you can get a loan at six percent interest rate.
Assurance Policy:
Your insurance policy can also prove to be a good option for a loan. For this, you have to give your policy to the bank. In return, the bank gives you a loan. Your policy is repaid upon repayment of the loan. Its interest rates are lower than personal loans.
