CIBIL score determines an individual’s creditworthinessbased on their past loans & repayment schedule.
Importance of CIBIL Score
Ranging from 300 - 900, the higher the CIBIL score, the higher your probability of getting credit cards & loans.
What is CIBIL?
Credit Information Bureau (India) Limited (CIBIL) is an RBI-authorised credit bureau which collects credit history information of a person or company.
What is a Good CIBIL Score?
A good CIBIL score ranges between 720 to 900. You need a CIBIL score above 750 for unsecured loans.
CIBIL Score Range & Meaning
350-549: It’s a bad CIBIL score, meaning you pay credit card bills or loan instalments late. Getting approved for a loan or credit card within this score range will be difficult.
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CIBIL Score Range & Meaning
550-649: It’s a fairly okay CIBIL score. Some lenders might offer you credit, but you may not get the best interest rates.
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CIBIL Score Range & Meaning
650-749: It’s a good CIBIL score. Lenders will approve your loan application at decent terms. However, you may not have the best negotiating power for interest rates.
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CIBIL Score Range & Meaning
750-900: It’s an excellent CIBIL score, meaning you pay your bills on time. Lenders will most likely offer you loans and credit cards at the best terms.
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How to Check Your CIBIL Score Online?
Go to CIBIL’s official website.Select 'Get your CIBIL Score.’Write your name, email ID, & password.
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How to Check Your CIBIL Score Online?
Attach an ID proof (PAN card, Aadhaar card, Voter ID or passport number)Mention your PIN code, DOB, & phone numberClick on 'Accept & continue'