Applying for any banking product is not an easy task, it takes a lot of time but if an individual has a good credit score then the process becomes simple. But how can one calculate their credit score? One can easily know their CIBIL score by checking it on several credit bureau websites such as CIBIL. Just do the CIBIL login and it will produce your CIBIL report. Know more about the CIBIL score in this article.
What is the Importance of a CIBIL Score? CIBIL score plays a vital role in determining one’s approval for the lending product. The score is a 3 digit number which ranges from 300 to 900. The score is based on the previous loan repayment, dues, outstanding amount and other factors. So an individual can check the credit score through CIBIL score login on the CIBIL’s official website. Lowest CIBIL score is 300, which presents a bad credit report of an individual on the other hand 750 is the most relevant credit score to apply for a banking product. Why the bank and other financial institutions examine one’s CIBIL Score? Before lending money to any customer the bank or NBFCs checks one’s credit report. The bank examines the credit report by employing the credit bureaus, such as CIBIL’s to know one’s credit history. You can also easily know your CIBIL score before applying for any banking product, you just need to visit the website do the CIBIL login enter your details and it will provide you the credit report. How to improve CIBIL score? Whether an individual is applying for a credit card or loan the bank lends money only to the trusted customers. A bad credit score does not make you eligible to apply for any lending products. Some steps to improve your credit score are mentioned below:
0 Comments
Leave a Reply. |
Details
Anika Sharma
|