Is it possible to get a loan without a CIBIL, Experian, Equifax or CIRF credit score?

Yes. If you are a first-time borrower, then it's possible to get a loan even without a CIBIL score or any other credit score. This is because the RBI doesn't prescribe any minimum credit score for the sanction of loan applications.

Moreover, in its Master Direction dated January 6, 2025, the central bank told banks not to reject loan applications of first-time borrowers if they have no credit history.

The above information was shared by the Union Minister of State for Finance, Pankaj Chaudhary, in the Lok Sabha on August 18, 2025.

"...RBI has not prescribed any minimum credit score for sanction of loan applications...Further, as part of best practices for credit institutions, Reserve Bank vide referred Master Direction dated 6.1.2025 has advised CIs that first-time borrowers’ loan applications should not be rejected just because they have no credit history," Chaudhary said in a written reply.

However, it may be difficult for first-time borrowers to get a loan if they do not have a proven source of income.

Banks generally take their lending decisions based on their own Board-approved policies. Credit reports serve as one of the inputs that banks use to make their lending decisions.

"In a deregulated credit environment, lenders take credit decisions as per their commercial considerations based on their Board-approved policies and broad regulatory guidelines and the information contained in the Credit Information Report would be one of the inputs, amongst various other inputs/factors, that lenders would consider before granting any credit facility to a prospective borrower," Chaudhary said.

Currently, there are four Credit Information Companies (CICs) for carrying on the business of Credit Information in India:

• TransUnion CIBIL Ltd.
• Equifax Credit Information Services Pvt Ltd.
• Experian Credit Information Company of India Pvt Ltd.
• CRIF High Mark Credit Information Services Pvt Ltd

These credit information companies generate Credit Information Report (CIR) of a borrower, which also includes the credit score (for example, CIBIL score generated by TransUnion CIBIL).

The fee chargeable for obtaining a credit score is regulated by RBI under the Credit Information Companies Regulations, 2006. It says a CIC may charge an amount not exceeding ₹100 for providing to an individual his own credit information.

Further, the RBI has also advised every CIC to provide one free full credit report, including credit score, in electronic format, once in a year to their users.