How to increase cibil score.
As we all know that if we must take any kind of loan from the bank like home loan, personal loan, gold loan, cash credit or credit card, then the bank first of all checks our CIBIL score.
what is Cibil score
Cibil which is the sort form of Credit Information Bureau (India) Limited.
CIBIL score is a set of three numbers that shows your creditworthiness.
If we want to increase our CIBIL score, then first of all we need to know what is this CIBIL score.
CIBIL score is your credit record, it shows how your credit history is till now.
Which loans have you taken, which ones have you paid on time and which loans have you kept bad.
What is the CIBIL score range?
The range of CIBIL score is between 300 to 900, which keeps increasing and decreasing according to your payment history.
There are many reasons for the increase and decrease of CIBIL score, which we will tell you.
Reasons for decrease in Cibil score
There are many reasons for the decrease of CIBIL score, out of which we have told you some below.
- Failure to pay the loan on time
- Using more credit
- Applying for new loans again and again
- By checking CIBIL score again and again
Ways to increase Cibil score
We have told you some ways to increase the CIBIL score below.
- By paying the loan on time
- Using the minimum credit limit
- Avoid inquiring for a new loan or a new credit card
- By paying off defaulted loans
Role of CIBIL Score in Loan Approval
CIBIL score plays a very important role in loan approval. Your CIBIL score should be between 680 to 900 for any kind of loan or credit card approval.
The higher your CIBIL score, the better your interest rate and the easier your approval.
Loan approval comes easily if you have a CIBIL score of 750 or above, due to which there is little difficulty in getting loan approval on work CIBIL and the interest rate is also high.
How to increase cibil Score
If we want to increase our bad CIBIL, then first of all we have to clear our old loan due to which our CIBIL is getting bad, and we have to avoid new loan or credit card inquiries.
how to check cibil score
To check the CIBIL score, first of all you must have your PAN card, if you have your PAN card then you can check your CIBIL through the website and apps given below.
Cibil checking website
How to check your Cibil score in Free
You can check your Cibil score in free through various apps , You can check your cibil through below apps without any charge
- Bank Bazaar
- Paisa Bazaar
Credit Bureaus in India:
Come, let us talk about some such questions whose curiosity to judge is very high among our readers, they all want to know how we can improve the CIBIL score.
We have tried to answer some such questions which you can read below.
Can I get my CIBIL report rectified?
If you find any mistake in your CIBIL report, you can lodge a complaint by filling and submitting the form on CIBIL website. While there is no fee to submit a change request, you may be required to provide supporting documentation for your correction request to be approved.
Can my record be changed or deleted by CIBIL?
No, CIBIL does not change or delete your credit history records. It simply collects data form its member finance institutions and evaluates it to generate credit information reports and credit scores.
How can you get loans with low cibil score
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