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Decoding Your CIBIL Score: A Guide to Financial Wellness

CIBIL score

If you are planning to avail of a loan in the quickest way, first check your CIBIL score because a high CIBIL score will easily solve all the money crisis.

A loan borrower’s credit score ranges from 300 to 900, and financial lenders consider 750 a good CIBIL score. The CIBIL score is essential because it shows a loan borrower’s stability and that he or she is not a defaulter on credit and repays the loan amount before the due date of loan repayment. Why is a CIBIL score necessary for a loan borrower? Let’s have a look at the points below and the importance of the CIBIL score in the loan application process and how to improve CIBIL score immediately.


How to improve CIBIL Score Immediately?


When we apply for a loan, a loan provider first checks the credit score of the borrower. A high score can get you better and quicker loans in a few hours. But talking about a low CIBIL score could be a time-consuming process, and sometimes the application can get rejected, which can easily affect their borrowings disapprovingly. Find out how to improve CIBIL score immediately using the points listed below. 5 tips to improve CIBIL score are as follows:

  • Clear all your existing debts.

  • Always pay your EMIs on time.

  • Limit your credit utilization.

  • Go for a longer tenure when you take a loan.

  • Avoid taking on too much debt at one time.


How to check CIBIL Score Online?


Below are some points explaining how to check CIBIL score online in a minute with the help of the below steps.

  • Log in to the official CIBIL score website and click on Know Your Score.

  • Read all the instructions and fill out the online form, which asks for details such as name, DOB, name, PAN card number and other relevant data.

  • After inputting your information, you'll encounter a series of identity verification questions, often related to your credit history. It's essential to have your credit card and loan details readily available for this step.

  • Following successful identity verification, you gain access to your CIBIL score. Additionally, a comprehensive report will be provided, offering insights into your credit history, including details on credit utilization, payment records, and credit inquiries.


What is a good CIBIL score?


The CIBIL score is a three-digit numeric summary of your credit history that lies between 300 and 900, and it is one of the most crucial for every citizen of this country because when you need money, always apply a loan will solve all your financial crisis in a few hours. A CIBIL score above 700 is generally considered a good CIBIL score, and a loan borrower can easily get the loan. A good credit score might be helpful for a borrower to avail more loans in less time with different credit bureaus. Below are some CIBIL score criteria. Find out from low to high and check which criteria you currently meet:


Criteria for a Credit Score from Low to High


350–549: A CIBIL score in this range is a bad credit score.

550–649: This range of CIBIL score is considered to be fair.

650–749: If you are lying in this range, then you are on the right path.

750–900: This is an excellent CIBIL score range.


Final Note


The easiest way to increase your CIBIL score is to go for a longer tenure when you opt for a loan. To ensure that you are paying your monthly EMI on time and other card bills. This does not mean you are going to spend more money to buy anything and pay with easy EMIs. The main trick is to have a lot more credit and keep your expenses low to leave a positive impact on your CIBIL score. Build a healthy score that can give you a loan or loan against property in a few hours.

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