Planning to apply for a personal loan? Your credit score decides not just whether you are approved, but at what interest rate. Here is the minimum score most major banks look for — and how to improve your odds.
Most banks and NBFCs in India prefer a CIBIL score of 750 or above for personal loans at the best rates. That said, many lenders approve applicants from around 700, and some specialise in scores as low as 650 — usually at higher interest rates.
| Lender Type | Preferred Score | Typical Outcome |
|---|---|---|
| Major banks (best rates) | 750+ | Lowest rates, high limits, fast approval |
| Most banks & NBFCs | 700–749 | Approved at standard rates |
| Select NBFCs | 650–699 | Approved at higher rates |
| Specialist lenders | Below 650 | Possible, but expensive |
Note: exact policies vary by lender and change over time. Always confirm current criteria before applying.
Lenders price risk. A higher score signals reliable repayment, so they offer lower rates. The gap between a 700 and a 770 score can be 2–4% — a significant amount over a multi-year loan. Use our EMI calculator to see how rate changes affect your monthly payment.
Our advisors help you improve your score and find loans you qualify for — at no cost.
Your score matters most, but lenders also check your income, employment stability, existing EMIs (your debt-to-income ratio) and age. A strong income can sometimes offset a slightly lower score. Check your loan eligibility before applying.
Check your score first, lower your credit utilisation, clear overdue amounts, and avoid making several applications at once. If your score is below 700, spend a few months improving it — read our improvement guide — before applying for the best rates.
Never apply blind. Check your credit score free, see exactly where you stand, and apply only where you are likely to be approved.