Payday Loan with Bad Credit in India

Bad credit score can put you into immense financial problems. Though the purpose of availing funds might be an emergency or reasons of unemployment, the lenders judge you on basis of your financial history without thinking your current financial situation. However, there is still a possibility of attaining bad credit payday loan and same day loans, which you can avail it at

What is a bad credit score?

When you apply for loans, the lenders look for various factors such as your credit score, also known as the CIBIL score. It ranges from 300 – 900. Numerous factors play a huge role in determining the scoring process. Any score below 600 is considered to be a bad credit score. In such situations, it gets difficult for the applicants to avail no credit check loans. These scores thus determine a person’s eligibility for easy payday loans.

  • Missed Payments

There are three factors associated with the missed payments in the credit scoring system. These are: how late have the payments been, how long you have not missed any payment and the total number of payments in the history. The credit reporting bureaus put a negative remark with a notation on completion of 30 days of default. Suppose you took three months to get back on track on with the past due-debt, the account will show 90 days marked. The long and frequent delinquencies show an enormous impact on your credit score after completion of 30 days of default.

  • Collections and Defaults

At times, our bills tend to get piled up. In such cases, companies consider catching up the missed bills if the duration of non-payment exceeds seven months. One exceeding seven months, you will be able to see the collection notation on the report. Even after payoff of the collections, they may remain in your account, and the lender looks manually at the report to judge your defiance towards financial responsibility.

  • Public Records

Your credit score upon bankruptcy shows an impact for many years. However, civil judgements and tax liens stay listed on the report. You can get rid of some public records from the report once you have managed to please the judgement or the lien.

  • Repossession and Foreclosure

The foreclosure and the repossession show a default in secured instalment loan. Backed by a physical property, the lender has the right to take away the property on the failure of repayments of the loan. While foreclosure denotes home mortgages, the repossession is about other properties such as automobiles. If the lender does not recover the loan even after selling the property at an auction, then a deficiency judgement may be placed before you.

  • Utilization of High Credits on Credit Cards

The ratio of your credit balance and the credit card limit determines the actual credit card utilisation amount. If you possess many maxed out cards, your CIBIL score shall behave as a negative indicator. However, you can always control this factor. Through utilising less and keep the credit cards card balances low, your score shall rise with time.

How to Get Bad Credit Payday Loan?

Availing a bad credit payday loan is a matter of few of minutes. All you do is apply through the application on your desktop or phone and get instant loan decisions at If approved, the short term loans get credited to the account within 24 hours. However, you will need to fill in your name, email address, phone number and a bank account that accepts electronic transfers.

Loanbaba gives out small cash loan up to Rs. 50,000. You can get payday loans for bad credit if there was a genuine reason behind a low credit score. Bad credit loan does not mean we provide funds to those who have been relentlessly a default at repayments. Our quick payday loans system is designed to meet your financial needs during time of emergency.

Why Take Payday Cash Loans from

Payday loans in India are a growing concept, and loanbaba has come up with its own product of small cash loan, which are also known as instant payday loans. It is for salaried individuals. Payday loans in Mumbai can start at Rs. 10,000. We adhere to same day payday loans, as cash can be credited to your bank account within few hours or in 24 hours of loan approval.

Our easy payday loans are accessible in Mumbai, Navi Mumbai and Thane. It is also popularly known as “1 hour payday loans”, due to fast disbursal process. As payday loans online can be accessed even from home, it will save you a lot of time and efforts than applying for traditional loans, which take a longer period for approval and disbursal.

Short term payday loans are need of the day, as financial emergencies can crop up any time. So, if you are looking for best pay day loan in Mumbai, is the right place for you.


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