How to get a loan when you have a bad Credit Score?

Hmm…if you are here, it seems like you have landed yourself in quite a fix. Applying for a quick loan while having a bad credit score seems like a difficult task and we at PayMe India realize this. So, to make your loan application easier, PayMe India is here to the rescue.

Having a bad credit score can be caused due to various reasons such as; incorrect mention of default in repayments, errors in active loans/ credit card reports, etc.

Lenders generally provide loans to individuals who have a credit score of 650 and above, as it is considered to be a good score. However, since your case is different, it might be difficult for you to apply for a quick personal loan.

Quick and Small Personal Loans- Easy Process

We provide personal loans through a very easy application process, irrespective of your credit score. With loans for as low as INR 500 up to INR 5 lakhs, our quick loan application services are sure to impress you!

Documents Required to Apply for Personal Loan

At PayMe India, it is our promise to provide personal loans in a very concise manner, with only a minimal number of documents required. On the basis of whether you are a salaried or a self-employed individual, you can find the list of the documents required below;

• For Salaried Individuals

1. Identity Proof (Passport, PAN Card, Driving License, Voter ID)
2. Signature Proof (Passport, PAN Card, etc.)
3. Address Proof (Passport, utility bill – gas or electricity bill, voter ID, driving license, ration card, rental agreement, bank statement)
4. Latest three months’ Salary slips Income tax returns OR form 16

• For Self-Employed Individuals

1. Identity Proof (Passport, PAN Card, Driving License, Voter ID)
2. Signature Proof (Passport, PAN Card, etc.)
3. Address Proof (Passport, utility bill – gas or electricity bill, voter ID, driving license, ration card, rental agreement, bank statement)
4. Income Tax Returns for the last year Business proof (License, registration certificate, service tax registration)

Steps for Applying for a Personal Loan

1. Register yourself on the PayMe India app by entering your mobile number.
2. Next, upload your documents online and complete the KYC procedure.
3. Provide income proof documents like a bank statement, salary slip (if a salaried individual), or ITR (if self-employed)
4. The Loan Amount will be credited into your bank account within the same day that your loan is approved.

So, now that you are aware of the basic aspects that are a part of the Personal Loan application process at PayMe India, we hope you were able to see how easy and effortless our service is. With thousands of happy customers, we are climbing the ladder to becoming the best.

So come and be a part of our family. Give us a chance to extend our services to you. It is our promise that you will not be disappointed.