CIBIL Score

                                              CIBIL Score

                                                           Measures your creditworthiness

                                                            

   

CIBIL 

Credit Information Bureau India Limited (CIBIL)

It is a credit bureau or credit information company.

Engaged in maintaining the records of all the credit-related activities of companies as well as individuals.

CIBIL Score

CIBIL Score is like your financial report card. It is like a rating given to us based on our credit histories such as borrowing and repayments.

Banks or lending institutes use this score before approving any loan.

Important things to know about CIBIL Score

CIBIL Score comes in the range of 300 to 900.

Anything above 700 is considered good for the approval of loans or credit cards.

A higher score represents good credit history.

It also shows your repayment behavior.

Ways to improve your CIBIL Score

Make timely and regular payments of dues.

The number of loans you take in a fixed period of time should be minimum.

Ensure that you check your CIBIL report from time to time.

Choose longer tenure for repayment, when you borrow a loan.

Why checking your latest CIBIL Score is a must?

Higher chance of getting loan approval.

Higher chances of getting credit card approval.

Chances to get a better offer on loans or credit cards

How to check your CIBIL Score?

Step 1: Create an account

Step 2: Enter personal details

Step 3: Verify your identity

Step 4: CIBIL Score and report

Thus, manage your debt smartly and pay your dues. Healthy credit habits can help you improve a good CIBIL score. As it is a crucial factor to avail loans and credit cards.