Top 5 Urgent Loans for Bad Credit in India: Eligibility, Documentation, Application and charges in 2025

Urgent loans for bad credit in India can help you get quick cash even with a low credit score. Financial emergencies don’t wait; sometimes, banks reject loan requests due to poor credit. Thankfully, some lenders in India specialise in urgent loans for those with bad credit. They offer fast approval and easy applications and require only basic documents. This guide will walk you through the types of loans available, who qualifies, what documents you need, and tips to boost your approval chances, even with a low credit score.

Urgent Loans for Bad Credit in India - Quick Info

Getting a personal loan with a poor credit score can be difficult, but several lenders in India now provide options for borrowers who need quick funds. An urgent personal loan with bad credit in India allows individuals with low CIBIL scores to access short-term financial help. 

Lender/App	Loan amount	Interest rate	Approval time	Required credit score
NoBroker InstaCash	₹10,00,000	12.99% p.a.	Instant	550
Hero FinCorp	₹5,00,000	19% p.a.	12-24 hours	550
Airtel Flexi Credit	₹9,00,000	11.5% p.a.	Instant	550
Olyv	₹5,00,000	1.5% p.m.	Instant	550
Omozing	₹10,00,000	15% p.a.	24-48 hours	600

Top Lenders Offering Bad Credit Loans in India 

If you have bad credit and need a loan quickly, some lenders in India are here to help. Here are five top choices for emergency loan apps for bad credit in India: 

1. NoBroker

NoBroker offers quick personal loans for people with bad credit. This quick loan app for bad credit offers fast approval and requires only basic documents. You can apply online, and NoBroker often gives competitive interest rates [1].

2. Hero FinCorp

Hero FinCorp provides personal loans up to ₹3 lakh without needing a high credit score. This emergency loan app for bad credit focuses more on your income and job stability than your credit history, which helps people with low scores qualify for a loan [2].

3. Airtel Flexi Credit

Airtel Flexi Credit provides easy access to loans through the Airtel Thanks app. This app provides short-term loans for bad credit with flexible EMIs and faster approval i.e. 30 mins. Due to its flexible requirements, people with bad credit can apply quickly. It’s a simple way to get funds without the stress of strict checks [3].

4. Olyv

Olyv is the best digital personal loan app which offers loans for bad credit. They offer fast approval and often disburse funds on the same day, which makes them a good choice if you need money urgently [4].

5. Omozing

Omozing partners with multiple lenders to help people with low credit scores. They offer a straightforward application process and customised loan options to make borrowing easy and quick [5].

Kinds of Urgent Loans for Bad Credit in India 

Getting a loan can be challenging when you have a poor credit score. However, several urgent loan options are still available in India for people with bad credit. These loans can give quick relief in times of financial need.

Here are some types of urgent loans for bad credit in India:

1. Personal Loans from Non-Banking Financial Companies (NBFCs)

NBFCs offer personal loans to individuals with bad credit. These loans often offer flexible terms but carry higher interest rates due to the increased risk.

2. Payday Loans

Payday loans are quick, short-term loans that offer fast access to cash. They are easy to apply for and do not always require a high credit score. However, they often have high fees and interest rates. 

3. Secured Loans

Secured loans are a viable option if you can provide collateral like property, gold, or a vehicle. Lenders are more willing to provide loans when they have assets as security, even if your credit score is low.

4. Credit Union Loans

Credit unions tend to offer loans to their members, including those with bad credit. Their lending requirements are usually more flexible than those of banks, making approval simpler. 

5. Peer-to-Peer Lending (P2P)

P2P platforms connect borrowers with individual lenders. These platforms can be more flexible with credit requirements, making it easier to get a loan even with bad credit. 

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Eligibility Criteria for an Urgent Loan with Bad Credit 

Getting an urgent loan with bad credit in India is possible if you meet some basic criteria. These requirements help lenders decide whether to approve your loan, even with a low credit score. 

Here are the main eligibility criteria for urgent loans with bad credit:

• Age: You must be at least 21 years old. The maximum age limit varies, usually up to 60 years.
• Steady Income: Lenders require proof of income from a job or your business. This assures them that you can repay the loan.
• Minimum Earnings: You need to have a minimum monthly income. Lenders often expect at least ₹15,000 to ₹25,000 per month to ensure you can manage repayments.
• Indian Citizenship: Only Indian residents can apply for these loans. You must provide proof, such as an Aadhaar card or utility bill.
• Credit History: Lenders may check your credit history, even with bad credit. Demonstrating financial responsibility in other areas can strengthen your application.
• Collateral (If required): For secured loans, you must provide assets like property, gold, or a vehicle as security.  

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Documentation Required for an Emergency Loan with Bad Credit in India

You must provide the required documents to apply for a fast loan with bad credit in India. This helps lenders verify your identity and financial details for faster approval.

Here are the main documents you will need:

• Identity Proof: To confirm your identity, you must provide an ID, such as an Aadhaar card, PAN card, passport, or voter ID.
• Address Proof: Documents like utility bills, rent agreements, or an Aadhaar card are used to confirm where you live.
• Income Proof: Documents like bank statements, recent salary slips, or income tax returns are required to show that you can repay the loan. 
• Employment Proof: If you have a job, you may need to provide your employment letter or ID card. Urgent loans with bad credit in India for self-employed individuals can submit business-related documents.
• Collateral Papers (For Secured Loans): If you are applying for a secured loan, you need to provide papers for the collateral, like property, gold, or vehicle documents.
• Passport-Size Photos: Some lenders may ask for your recent passport-size photos to complete the application. 

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How to Apply for an Urgent Loan with a Bad Credit Score?

If you know the steps, applying for an urgent loan with a bad credit score in India is straightforward. Here’s a quick guide to help you get started. 

Following these steps, you can apply for a loan:

• Step 1: Choose Your Lender: Research and select a lender who offers loans to individuals with bad credit. Compare interest rates, loan terms and fees before deciding.
• Step 2: Check Eligibility: Review the lender’s eligibility criteria before applying. Ensure you meet their age, income, and other factors requirements.
• Step 3: Gather Necessary Documents: Prepare all required documents,  including identity proof, address proof and income statements. I am having everything ready to speed up the process.
• Step 4: Fill Out the Application: Visit the lender’s website or branch and complete the loan application. Fill in your details accurately to avoid delays.
• Step 5: Wait for Approval: The lender reviews your application after you apply. If all your details are checked out, the lender might still approve your loan despite a low credit score.
• Step 6: Receive Your Funds: After approval, the lender deposits the loan amount directly into your bank account. You can then access the funds for your immediate needs.

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Fees and Charges for an Urgent Loan with Bad Credit

When you take an urgent loan with bad credit, you may need to pay various fees in addition to the interest. Understanding these charges helps you plan your repayments and avoid surprises.

Here’s a breakdown of common fees for urgent loans:

Fee Type	Description	Typical Range
Processing Fee	A one-time fee for processing your loan application	1% - 3% of the loan amount
Interest Rate	The main cost of borrowing, often higher for bad credit loans	18% - 30% per annum
Late Payment Fee	Charge for missing a payment deadline	₹500 - ₹1,000 per late payment
Prepayment Charges	Fee for paying off the loan early	2% - 5% of the outstanding amount
Documentation Fee	Charge for handling and verifying documents	₹500 - ₹2,000
Stamp Duty	Government fee on loan agreements (varies by state)	As per state regulations

Features and Benefits of Urgent Loans for Bad Credit

Urgent loans for bad credit serve as a financial lifeline for individuals facing immediate financial challenges despite having a less-than-perfect credit history. These loans offer fast access to funds when conventional lending options are unavailable. Here are some features of urgent loans for bad credit:

• Quick Approval and Disbursement: Swift approval processes ensure borrowers can access funds promptly and efficiently to address urgent financial needs.
• Accessible to Individuals with Bad Credit: Inclusivity is a hallmark, allowing those with poor credit histories to access financial support that might be unavailable through traditional channels.
• Online Application Process: The online application streamlines the process, providing convenience and reducing paperwork, allowing borrowers to apply from the comfort of their homes.
• Flexible Loan Amounts: A range of loan amounts accommodates diverse financial needs, empowering borrowers to request funds precisely aligned with their urgent requirements.
• Short-Term Repayment Period: Although short-term, this ensures quick repayment, preventing long-term debt while addressing immediate financial concerns.
• No Collateral Required: The absence of collateral simplifies the application process, providing a risk-free borrowing option for individuals lacking assets to secure a loan.
• Credit Score Improvement: Successfully repaying these loans contributes positively to credit scores, signalling financial responsibility and offering credit rebuilding opportunities.

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What are the Factors Affecting Credit Score?

Your credit score is key to whether you qualify for a loan. Many factors influence this score, and knowing them can help you keep a strong credit profile.

• History of Payment: Paying your loans, credit card and other bills on time helps increase your credit score. Late or missed payments lower it, indicating a risk to lenders.
• Credit Utilisation: This refers to how much of your available credit you are using. Keeping credit card usage below 30% of your limit helps improve your score. 
• Length of Credit History: A longer credit history positively affects your score, showing lenders a consistent track record of borrowing and repayments.
• Types of Credit: A mix of credit types, such as personal loans, home loans and credit cards, can improve your score. It shows you can handle different types of debt responsibly.
• New Credit Inquiries: Each time you apply for new credit, the lender performs a ‘hard inquiry’ on your report. Too many inquiries in a short period can lower your score.
• Outstanding Debt: High outstanding debt signals that you may struggle to repay new loans. Keeping debt levels low positively impacts your credit score. 

Easy Ways to Improve Your Chances of Loan Approval with Bad Credit

Having a low credit score can make it challenging to secure a loan, but following a few simple tips can improve your chances of approval. 

• Check Your Credit Report: Get a copy of your credit report. Look for mistakes and correct any errors to show an accurate view of your credit history. 
• Explain Past Issues: Tell your lender why you had credit problems, such as medical bills or job loss. This can help them better understand your situation.
• Show Good Financial Habits: Point out your good habits, like paying rent or utility bills on time. These may not show in your credit score, but they do show responsibility. 
• Add Extra Documents: Show your financial stability with proof of income, job details, or assets. These can help lenders trust your ability to repay. 
• Use a Co-Signer: If possible, have a cosigner with good credit. This person agrees to repay if you can’t, which gives lenders added security.
• Find Lenders for Bad Credit: Some lenders specialise in working with people who have poor credit. They may have flexible terms and be more willing to help.
• Choose a Secured Loan: Using an asset, like a car or property, as collateral can make it easier to get approved. But remember, you risk losing the asset if you can’t repay it. 
• Show Stable Income: A steady income makes lenders more confident in your ability to repay. Provide proof of your job or any other income.
• Apply for a Small Loan: Start with a small loan that’s easier to handle. Repaying this on time can help improve your credit score over time. 
• Lower Your Debt-to-Income Ratio: Pay off other debts to show you have room for a new loan. A lower ratio makes you look more reliable to lenders.        

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Tips to Get Approved for a Loan with Bad Credit

It’s hard to get a personal loan with a bad credit score, but some apps offer instant loans for bad credit in India. Here are a few tips to improve your credit score [6]: 

• Lenders prioritise steady income over credit history, so provide salary slips or bank statements as proof.
• Having a guarantor or co-borrower with a good credit score can increase approval chances.
• Choose NBFCs or fintech lenders, as they are more flexible with credit requirements than traditional banks.
• Submit your valid ID, address, and income proof to speed up loan approval.
• Request a smaller loan amount to reduce the lender’s risk and improve approval probability.
• Maintain a good repayment record on existing EMIs or credit cards to build trust with lenders.

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Looking for urgent loans with bad credit in India? We understand that financial emergencies don't wait, and our commitment to quick approvals means you can access the funds you need promptly. Experience a hassle-free application with NoBroker, your go-to solution for instant approval of personal loans, even in the face of bad credit. 

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