CIBIL
CIBIL – Interesting tidbits
Beyond the well-known aspects of CIBIL scores, there are some interesting tidbits you might not have heard about: Not just for loans: While CIBIL scores are primarily used for loan applications, they can also influence other financial products like insurance premiums,...
How CIBIL calculate your credit score
Contributing Factors: Payment History (35%): The most crucial factor, reflecting your track record of making timely payments on credit accounts. Delayed or missed payments significantly impact your score. Credit Utilization (25%): This refers to the percentage of your...
What is Credit history and Credit report
Credit history: Refers to your entire track record of borrowing and repaying debts. This includes loans, credit cards, overdrafts, and other credit facilities Your credit history encompasses details like: Types of credit accounts you have used Credit limits or loan...
Understanding your CIBIL report
Understanding your CIBIL report might seem complex at first glance, but with guidance, it can be quite straightforward! Here's a breakdown of what you'll find and how to interpret it: 1. Personal Information: This section includes your name, PAN number, date of birth,...
CIBIL Score – Full form
CIBIL is indeed the most popular credit information company (CIC) in India, with the other three major players being Experian, Equifax, and High Mark. All four of these companies are licensed and regulated by the Reserve Bank of India (RBI) to collect and maintain...
How is your credit score affected by taking out a personal loan?
How does taking a Personal Loan affect your credit score: ⇒The credit score of borrowers is now a crucial factor considered by lenders when deciding whether to approve a loan application. As a result, a lot of people are increasingly looking for strategies to increase...
How to Raise Credit Score After Default in India?
When considering whether to lend money to a person in India, lenders pay close attention to the credit score. One must therefore be aware of their CIBIL score and how to raise it. A lender grants a loan to a borrower in whom the lender has complete faith. The credit...
Loan Settlement: What Is It? What Impact Does It Have on Your Credit Score?
You can have a strategy to repay the money you borrow over a period of time. However, you can be in a position where you are unable to fulfill your duties. You can choose from a variety of loan settlement methods offered by banks and other lenders. However, you must...
How Does Your CIBIL Score Affect the Interest Rates on Personal Loans?
Your chances of obtaining a loan with a favourable interest rate are increased if your CIBIL score is 750 or above. The CIBIL credit score typically ranges from 300 to 900. High scores are viewed favourably by lenders, making it simpler for your loan application to...
Top 8 unknown CIBIL Score facts
One of the six licensed credit bureaus in India, The Credit Information Bureau India Limited, or CIBIL, is in charge of gathering and keeping your credit data. You receive a CIBIL score from the Bureau that represents your creditworthiness. The CIBIL score, which...