is India’s leading credit information company. It maintains records of your credit history, loans, and credit cards.
A CIBIL score is a 3-digit number that represents your creditworthiness. It ranges between 300-900, with 900 being the best.
Before approving loans or credit cards, lenders use your CIBIL score to assess your financial discipline and reliability.
A soft inquiry (self-check) does not impact your score, but multiple hard inquiries by lenders can lower it.
A high CIBIL score (750 and above) boosts your chances of getting approved for a personal loan with favourable terms.
Pay bills on time, maintain a low credit utilisation ratio, and avoid multiple loan applications to improve your score.
Regularly check your CIBIL score to stay updated on your credit health and improve your chances of loan approval.