Get Loans Without a Credit Score in 2026 | GroMo

Getting a loan used to mean one thing: having a credit score. If you didn't have one maybe you're fresh out of college, rebuilding after a rough patch, or just never needed debt before you were out of luck. That's finally changing.

In 2026, you don't need a CIBIL score to get approved. Lenders have started looking at other signals to decide if you're good for the money. Even better, you can actually make decent income helping other people find these loans through platforms like GroMo.

Why Your CIBIL Score Isn't the Only Thing That Matters Anymore

Banks have always relied on credit scores to answer a simple question: will this person pay us back? A score below 700 usually meant an automatic "no." No score at all? That was even worse.

But fintech companies have realized that a missing score doesn't mean a missing borrower. They're now looking at actual financial behavior:

• Banking history: Do you have regular deposits?
• Job stability: Can you prove steady income?
• Digital footprint: Do you pay your bills on time?
• Assets: Do you have mutual funds or investments you can borrow against?

This shift has opened doors for students, gig workers, and anyone who has been invisible to the traditional banking system.

Actual Loan Options That Don't Require a Credit Score

1. Loans Against Assets (Your Investments Are Your Credit)

Abhiloans - Loan Against Mutual Funds

If you have investments but no credit history, this is probably your best bet. You put up your mutual funds as collateral.

• No income proof needed: Your mutual funds secure the loan.
• Interest rates start at 8% p.a.: That's often lower than a standard personal loan.
• You keep your investments: The lender puts a lien on them, but they stay invested and growing.

It’s a fully digital process. You verify via CAMS/KFintech OTP, pick the funds you want to pledge, do your Aadhaar KYC, and get the money. It usually takes about four hours. The lender doesn't care about your CIBIL score because they have your assets.

Who this is for: Anyone with at least ₹50,000 in mutual funds who needs cash but doesn't want to sell their portfolio.

2. Income-Based Digital Loans (They Look at Your Paycheck, Not Your Past)

If you have a salary but no history, several lenders will work with you.

Tez Credit Personal Loan

This one is aimed at people with modest salaries who might be new to credit.

• Salary requirement: Just ₹18,000/month.
• Documents: PAN, Aadhaar, and basic salary proof.
• Approval: It’s algorithm-based, looking at your income patterns rather than past borrowing.

Prefr Personal Loan (Up to ₹5 Lakhs)

• Paperwork: Zero. It's digital.
• Speed: Same-day disbursal.
• How it works: They analyze your bank statement (with your permission) to see your income patterns. Regular credits show you can repay, even without a score.

3. Small-Ticket Instant Loans for First-Timers

Ram Fincorp Instant Personal Loan

If you're just starting to build a profile, the short tenure here helps manage the risk.

• Tenure: Up to 3 months (good for emergencies).
• Documents: PAN + Aadhaar.
• Process: Video KYC takes 15 minutes to 48 hours.

Because the loan is small and short-term, the lender is more willing to take a chance on you. Paying this back on time is also a fast way to start building a credit history.

Smartcoin Personal Loan

• Loan up to ₹1 Lakh.
• Designed for self-employed people without a formal salary structure.
• Uses alternative underwriting: It looks at your digital behavior and banking patterns to make a decision.

How Alternative Underwriting Actually Works

Lenders have moved past just looking at a three-digit number. They are building a profile based on how you actually live your financial life.

Here's a real-world example: A freelance graphic designer with zero credit history gets regular UPI payments from clients, pays rent on time, and keeps a healthy bank balance. Three years ago, they'd be rejected. Today, that behavior can unlock a ₹50,000 loan.

Documentation You Actually Need

If there's no score to check, you need to prove you have money coming in:

• Salaried: Last 3 months' salary slips and a bank statement showing those credits.
• Self-employed: ITR, GST returns, or 6 months of bank statements.
• Gig workers: Payment history from apps like Upwork or Fiverr.
• Students/Housewives: You might need a co-borrower who has an income.

Watch Out for Predatory Lenders

The "no credit check" space is full of sharks. Legitimate options exist, but so do scams.

Red flags to watch for:

• Upfront fees: A real lender deducts fees from the loan amount. If they ask for money before approval, run.
• Guaranteed approval: No legitimate lender guarantees approval without some verification.
• Insane interest rates: The RBI caps rates at 36% p.a. If it's higher, it's illegal.
• Pressure: Aggressive collection calls or pressure to sign immediately are signs of a bad actor.

How to check if a lender is real:

1. Search the RBI's list of registered NBFCs.
2. Look for a real address and customer service number.
3. Read the fine print before you e-sign anything.

Platforms like GroMo can be helpful here because they generally curate products from verified lenders, saving you the research time.

Building Credit From Scratch

Here is the strategy: a loan you get without a credit score is your chance to build one. These lenders still report to credit bureaus.

What to do after you get the loan:

• Set up autopay. Never miss an EMI.
• Don't close the loan too early (first 6 months) it can actually hurt a new credit profile.
• Check your CIBIL score after 6 months.

If you pay responsibly for 12-18 months, you will likely have a score above 700. That opens the door to cheaper loans and credit cards later.

How You Can Make Money From This

Knowing about these loans isn't just useful for your own finances. You can get paid to help other people find them.

As a GroMo partner, you earn commissions when people apply through you.

Current payouts look like this:

• Abhiloans: ₹525 per lead + extra on larger disbursals.
• Tez Credit: 3.5% payout.
• Ram Fincorp: 2.75% payout.

The model is simple:

1. Get trained on the products (free).
2. Share your unique link via WhatsApp or social media.
3. When a loan is disbursed, you get paid.

The math: If you help 10-15 people a month get average-sized loans, you could realistically make ₹50,000 to ₹1,00,000 a month. It's a zero-investment business that solves a real problem for people who need access to capital.

Who Needs These Loans the Most?

Students and Fresh Graduates

If you're just starting work but have no borrowing history, income-based loans (like Tez Credit) can help you pay for a course or a move for a new job.

Housewives with Investments

If you manage household finances but have no credit in your name, a loan against mutual funds gives you access to funds without needing a co-borrower.

Self-Employed Professionals

Freelancers often struggle to prove income. Lenders like Smartcoin accept alternative income proof, which makes working capital accessible.

People Rebuilding Credit

If you've had financial trouble before, a small, short-term loan (like Ram Fincorp) is a manageable way to prove you're reliable again.

How to Actually Get Approved

First, figure out what you have.

• Mutual funds worth ₹50k+? Go for an asset-backed loan.
• Salaried with ₹18k+ income? Look at income-based products.
• Self-employed with bank statements? Find lenders who accept ITR/GST.

Second, get your papers in order. You'll need your PAN, Aadhaar (linked to mobile), and 3-6 months of bank statements.

Third, be honest. Algorithms cross-verify everything. Fake documents lead to immediate rejection and blacklisting.

Fourth, timing matters. Apply between 10 AM and 4 PM on weekdays. Even though apps run 24/7, the actual verification (video KYC) happens during business hours.

The Long Game

Getting a loan without a score is step one. The goal is to turn that opportunity into a solid financial foundation.

0-6 months: Pay the loan on time. Start a recurring deposit, even if it's small. 6-18 months: Check your score. Apply for a secured credit card to speed up the process. 18+ months: You should have access to better rates and unsecured credit.

The journey from "no score" to "excellent credit" takes about two years. The first loan is just the entry ticket.

Frequently Asked Questions

Q: Can I really get a loan with zero credit history in India? Yes. Lenders like Abhiloans, Tez Credit, and Ram Fincorp specifically serve this market. They verify your income or assets instead of your past. The key is having either collateral or a steady paycheck.

Q: Will this hurt my future credit profile? No, it does the opposite. These loans are reported to bureaus. Timely repayment creates a positive history. In 6-12 months, you'll have a score that qualifies you for better products.

Q: What's the catch? Interest rates might be slightly higher to offset the lender's risk, or the loan amounts might be smaller initially. However, asset-backed loans (like loans against mutual funds) often have lower rates because the collateral lowers the risk. Always verify the lender is RBI-registered.

Q: How can I earn money helping others get these loans? Join GroMo. You get links to products like Tez Credit and Abhiloans. Share them with people who need loans. When a loan disburses, you earn a commission usually 2.75% to 3.5%. Partners moving 10-15 loans a month are earning significant side income.

Q: What documents do I need? PAN card, Aadhaar, and bank statements (3-6 months). Salaried people need salary slips; self-employed people need ITR or GST returns. For asset loans, you need access to your CAMS/KFintech records.

Q: Should I borrow the maximum amount I'm eligible for? Start small. A ₹25,000-₹50,000 loan is easier to manage and builds the same positive history. The goal isn't just getting the money it's building a profile that gets you cheaper money later.