Applying for your first loan and realizing you don’t have a credit score yet?
You’re not alone.
In India, millions of first-time borrowers face this problem — but the good news is that you can still get a loan even if you have no credit history.
Here are your best options in 2025, brought to you by Vizzve Finance.
What Does “No Credit History” Mean?
It means:
📉 You’ve never taken a loan or credit card before
💳 There’s no repayment track record in your name
🔍 CIBIL or other credit bureaus don’t have a score to assign you
Lenders consider this risky, but many now offer low-risk alternatives.
Best Loan Options Without a Credit History
1. Gold Loans
Use your gold jewellery as collateral
Fast approval, no credit check needed
Low interest rates (secured loan)
2. Loan Against Fixed Deposit (FD)
Borrow up to 90% of your FD value
Credit history not required
Ideal for those with savings but no credit use
3. Co-Signed or Guarantor Loans
A family member with good credit co-applies
Their credit score improves your approval chances
4. Secured Personal Loans
Offer assets like property or LIC policies as collateral
Safer for lenders, hence easier to approve
5. NBFC & Fintech Loans
Many NBFCs and digital lenders look beyond credit score
Use alternative data (like income, job type, transaction patterns)
6. Government-Backed Loans (e.g., Mudra)
Meant for first-time borrowers, especially for self-employment
No formal credit history required for small-ticket loans
Vizzve Finance Tip
At Vizzve, we match first-time borrowers with lenders that:
Offer credit builder loans
Accept alternate verification (like bank statements, income proof)
Report your repayments to credit bureaus — so you build a score while you borrow
How to Increase Approval Chances
| Tip | Why It Helps |
|---|---|
| Add a co-applicant | Lowers lender risk |
| Use collateral | Increases loan security |
| Start with a small loan | Easier to manage and repay |
| Avoid applying at multiple lenders | Prevents rejection-based flagging |
Real Example
Rahul, a 24-year-old freelancer, had no credit history.
Using Vizzve, he got a ₹40,000 NBFC-backed personal loan.
After 6 timely EMIs, he built a CIBIL score of 720+.
FAQs
Q1: Can I get a loan with zero credit score?
Yes, through secured loans, NBFCs, or with a guarantor.
Q2: Does applying for many loans hurt my chances?
Yes, multiple rejections can reduce your eligibility. Use Vizzve’s smart match system.
Q3: Can I build my credit score with a small loan?
Absolutely. Even a small ₹10,000 loan helps build your credit profile.
Published on : 22nd July
Published by : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed