EMI, Credit Cards and Loans being blocked no matter what, What do I do?

Social Off-topic & Debates
1

I’m in need of a gaming laptop. My mother has been trying to take a loan, credit card, or any form of EMI (from Bajaj, IDFC, HDFC, Etc) and each of every single one has been getting blocked.
My mother has never taken a loan, credit card or even EMI. She has a score of -1, aka N/H (No History) on her CIBIL. She does have enquiries, that were rejected because she had no CIBIL score. What alternative do we do if a FD Credit card is not an option and we have no collateral?

We were denied loans because of no CIBIL Score, and now CIBIL’s enquiry limit won’t let us take any loans to build up our CIBIL Score. I’m in desperate need of a Laptop, I’m able to pay for the EMI myself, but I don’t know what to do. I need advice. Any alternatives?

2

Gold loan could be an option for someone with no credit history, you’ll have to pledge an ornament and you’ll get a lower interest rate since it’ll be a secured loan.

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3

I was about to mention that and it is much easier to quickly pay it back with no foreclosure charges and all.

4

Would that be the only option..? since that itself will take a few months ouchh

5

why do you need a gaming laptop? dont loan to buy things from where you cant make more money.

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6

I’m an artist. High DPI, High resolution canvases, Recording timelapses, reference tabs, etc cause Clip Studio Paint to slow down on regular laptops. I make around 3k per commission, and average around 4 commissions a month on my off time. I can afford to pay EMI’s monthly, I can’t afford it lumpsum.

7

you can share bank statements if they ask income proof. account with high transaction might give you a preapproved cc from priavte banks. if you dont have lumspum better do with whatever you currently have and save up. bank only gives loan to those who dont need.

8

Okay, I’ll look into it. Thanks!

9

bajaj finserv emi card , sbi offers credit card if you make a fixed deposit of 20k

10

What you can consider doing is - I am presuming you are from Kerala (one of your other topics mentions location). The co-operative sector is relatively strong in the state. You can ask your mother to check with the local branch of Kerala Bank or the branch of the bank that she banks with.

Credit underwriting is mostly system driven now. You’d have a better chance at Kerala Bank.

Even though this exists, it’s toothless because it’s just an advisory. Not everything is followed in spirit.

Whatever you do, do not check anything on bank bazaar. You can check for personal loan offers with local branches of NBFCs if it doesn’t work with banks. The interest rates will be relatively higher.

11

We’ll look into it. Ty!