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  • CIBIL Score

    The CIBIL score is provided by the Credit Information Bureau (India) Ltd., a credit rating agency which is authorised by the Reserve Bank of India (RBI). CIBIL scores and credit reports are offered to individuals as well as to banks and Non Banking Financial Companies (NBFCs). These scores are based on your credit history which can range from your loan repayment history to your credit card repayment track record.

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  • This three-digit number, which ranges from 300 to 850, is a reflection of your creditworthiness and is taken into account by financial institutions when making decisions about disbursing loans and issuing credit cards.

    Tips to have a great CIBIL Score How to Improve CIBIL Score CIBIL Score Range
    Check Your CIBIL Score Online Factors that Affect CIBIL Score CIBIL Score FAQ's

    How to Check Your CIBIL Score Online Step by Step:

    Here is how you can check your CIBIL score:

    • Step 1: Go to the official CIBIL website.
    • Step 2: Select 'Get your CIBIL Score
    • CIBIL Score Login
    • Step 3: Type in your name, email ID, and password. Attach an ID proof (passport number, PAN card, Aadhaar or Voter ID). Then enter your PIN code, date of birth, and also your phone number
    • Step 4: Click on 'Accept and continue'
    • Create Account in CIBIL
    • Step 5: You will receive an OTP on your mobile number. Type in the OTP and select 'Continue'
    • Verify Your Identy
    • Step 6: Select 'Go to dashboard' and check your credit score
    • View CIBIL Score
    • Step 7: You will be redirected to the website, myscore.cibil.com
    • View CIBIL Score
    • Step 8: Click on 'Member Login' and once you log in, you can see your CIBIL score.

    Pay and Check Your CIBIL Score Online:

    CIBIL credit ratings can be checked online by following a few simple steps, as outlined below.

    CIBIL Score Range

    CIBIL Score Range

    A CIBIL score ranges from 300 – 900, 900 being the highest. Generally, individuals with a CIBIL score of 750 and above are considered as responsible borrowers. Here are the different ranges of a CIBIL score.

    NA/NH: If you have no credit history, your CIBIL score will be NA/NH which means it is either “not applicable” or no history”. If you have not used a credit card or have never taken a loan, you will have no credit history. You might want to consider taking credit, as it will help you in building a credit history and get access to credit products.

    350 – 549: A CIBIL score in this range is considered as a bad CIBIL score. It means you have been late in paying credit card bills or EMIs for loans. With a CIBIL score in this range, it will be difficult for you to get a loan or a credit card as you are at a high-risk of turning into a defaulter.

    550 – 649: A CIBIL score in this range is considered as fair. However, only a handful of lenders would consider offering you credit as this is still not the best CIBIL score range. It suggests you have been struggling to pay the dues on time. The interest rates on the loan could also be higher. You need to take serious measures to improve your CIBIL score even further for better deals on loan.

    650 – 749: If your CIBIL score is in this range, you are on the right path. You should continue displaying good credit behaviour and increase your score further. Lenders will consider your credit application and offer you a loan. However, you may still not have the negotiation power to get the best deal on the rate of interest for loan.

    750 – 900: This is an excellent CIBIL score. It suggests you have been regular with credit payments and have an impressive payment history. Banks will offer you loans and credit cards as well considering you are at the lowest risk of turning into a defaulter.

    3 Essential Tips to have a great CIBIL Score

    A CIBIL score of 750 and above is considered as ideal. It is important to have a high CIBIL score as it is useful when you are applying for a loan or a credit card. Keeping your CIBIL score on track since the beginning of the year can help you increase the chances of getting a loan approved easily. Maintaining a healthy CIBIL score is extremely important. Here are some important tips to have a great CIBIL Score.

    • Be Disciplined: Credit Card and loan repayments have the strongest impact on your CIBIL score. Hence, paying all your dues on time should be your priority.
    • Low Credit Utilisation Ratio: Keep your credit utilization ratio at 30% for a good CIBIL score. It is advised to get a credit card with higher top limit, if you are struggling to stay within the existing limit of the card.
    • Seek Variety: It is better to have a good combination of secured and unsecured debt in order to get a high CIBIL score. A Credit Card is an unsecured debt whereas a Car Loan is a secured debt.

    How to Improve Your CIBIL Score?

    It is important to have a high CIBIL score as it helps banks decide whether to extend a certain amount of credit to you or not. A good CIBIL score increases your chances for an easier credit approval. Here are five simple and effective ways that will help you improve your CIBIL score.

    • Check and Monitor your CIBIL Score: It is better to know your CIBIL Score regularly, as it will give you an idea about your credit status. You can monitor your CIBIL score by applying for subscription based credit score. In addition, you can also track your score by using CIBIL report from the leading credit bureaus in India. Another reason to check your CIBIL score is to see whether there are any errors or false records about your credit account.
    • Review your credit report: In addition to monitoring your CIBIL Score, it is advised to check your credit report as it might have errors. It is better to review your credit report regularly, as you can rectify them on time.
    • Limit your Credit Usage: Maintaining a discipline when it comes to credit card usage is of utmost importance. Make sure you are not exhausting your entire credit limit. Until your CIBIL score reaches 750, it is advised to not spend over 50% of your credit card limit.
    • Increase your credit limit: A credit limit is the total amount you can borrow through the card. Request your credit card issuer to increase your credit limit.
    • Make payments on time: In order to prove that you can manage your debt efficiently, make sure to pay all your dues on time. Avoid delays in paying your bills to maintain a good credit. Never pay partial amounts as it may showcase you as undisciplined credit payer and edge down your CIBIL score.

    Factors that Affect your CIBIL Score

    A CIBIL score is made up of four main factors. Each factor has a different weightage. Let’s take a look at the factors and how they can affect your CIBIL score.

    Payment History 30%
    Credit Exposure 25%
    Credit Type and Duration 25%
    Other Factors 20%
    1. Payment History:
    2. In order to maintain a high score, you need to be prompt with your monthly credit card bill payments as well as loan EMIs. If you are delaying your payments or are defaulting on EMIs, it will hamper your score. Irregular payment behaviour also suggests that you are struggling to manage your credit health. A recent CIBIL analysis (reported by the Financial Express) revealed that 30-day delinquency can reduce your score by 100 points.

    3. Credit Utilisation Ratio:
    4. Having a loan or multiple credit cards do not negatively impact your CIBIL score. However, if your credit utilisation ratio is high, it will bring your score down. Ideally, you should only spend up to 30% of your credit limit. A higher credit utilisation ratio suggests you have been increasing your debt and are likely to turn a defaulter. Therefore, it is advised to keep a tab on your credit expenses and make sure you are not maxing out your limit.

    5. Type of Credit and Duration:
    6. The age of your credit history is the number of years that have passed since you opened your first credit account. CIBIL considers the average number of years for which you have been holding a credit account. Having a good balance of secured (car or home) loans as well as unsecured (credit card) loans helps to boost your score. When you have a healthy credit mix, it suggests that you have a good experience in handling different types of accounts. A long credit history with good repayment behaviour makes you a low-risk borrower. It is better to start building your credit history at an early stage as it will be helpful later at the time when you’re planning to buy a house or a car.

    7. Other Factors:
    8. Credit inquiries is another factor that is considered while calculating your score. Every time you apply for a loan or a credit card, the lender will check your credit report. This is called a hard inquiry. If you make multiple credit requests within a short period, it will bring your score down. Therefore, it is advised to spread your credit applications throughout the year instead of making them all at once.

    Building a CIBIL score is a slow process. You need to show consistent repayment behaviour and handle the available credit in a responsible manner to maintain a good score.

    • It helps in analysing your true financial standing and make plans for future finances.
    • You can be on top of your borrowings and avoid debt traps.
    • With a CIBIL score in hand, you are in a great position to make decisions regarding availing new forms of credit, while also being able to extract the best possible rates from banks or other lenders.
    • It helps in cultivating financial discipline.

    Things that Positively Affect your CIBIL score

    Things that Negatively Affect your CIBIL score

    Benefits of Good CIBIL Score

    A good CIBIL score is necessary and carries numerous advantages. That’s why an aspiring loan applicant must be informed of the benefits, before applying for a loan. The benefits of a good CIBIL score are mentioned below:

    • Lower interest rate: Lower interest rates are the main benefit of having a good CIBIL score. The rate of interest is determined by the likelihood of default. A good credit score gives your lender assurance that you will repay the loan regularly and timely. Hence, the risk of default is low that allows your lender to offer you a lower interest rate.
    • Higher chances of approval: When you apply for a loan, any lender will pull your credit report and run a credit check. If you have an excellent credit score, your chances of getting a loan approved are exceptionally high due to your solid credit history and previous instances of regular and timely loan repayments. A good CIBIL score also shows that you haven't taken out many loans from different lenders, or that you haven't accumulated debt that makes it difficult to repay the loan. As a result, the lender is confident that the loan will be repaid by you in full and on time, and so the odds of approval are quite high and nearly guaranteed.
    • High Credit Limit: A good CIBIL score indicates that you are a reliable and responsible borrower. As a result, the lender may not be afraid to extend you a bigger credit limit on your card or a higher loan amount.

    Why a Good CIBIL Score is Important for Loans

    A CIBIL score is considered good if it lies between 700 and 900. This will be taken into account by banks and NBFCs when considering a loan application for most retail loans, whether it is a home loan or a vehicle loan.

    A high CIBIL score, also called a credit score, has many benefits during the loan application process such as:

    • Quicker and faster loan application process
    • Easier loan documentation process
    • Lower interest rates on the loan
    • A higher quantum of loan
    • Longer or more flexible repayment tenure
    • Choice between multiple lenders so that you can select the loan that's best for you In addition, such a score will lead to a quicker and easier documentation process. When it comes to a home loan, you can expect up to 80% of the total cost of the property if you have a CIBIL score between 700 and 900.

    A CIBIL Score is a numeric summary of credit history that is calculated based on the following factors:

    Track Record of Past Payments
    • Record of all past repayments
    • Consistently making payments on time leads to a higher score
    • Delayed payments leads to a lower score
    • Recent delayed payments makes a more negative impact
    Previous Settlements, Defaults, Write-offs
    • Recent write-offs impact more negatively than older ones
    • Multiple write-offs lead to lower score
    • Write offs documented by lenders on previous debts lower score
    • Delays or defaults on secured loan repayments impact more negatively than unsecured loans
    Loans as Proportion of Income
    • Low loan balance indicative of healthy credit usage and thus higher score
    • High loan balance reduces score
    Secured Loans vs. Unsecured Loans and credit cards
    • High credit card balances lower score
    • Reliance on unsecured loans (credit cards) over secured loans viewed negatively
    • Lesser number of such accounts coupled with frequent payment history pushes up score
    Loan Equities
    • Many loan enquiries to avail loans indicative of “credit hungry” behaviour, negatively impacts score

    A credit score measures your creditworthiness. It helps lenders take a sound decision regarding your ability to pay back the borrowed credit. When you have a high credit score, lenders like banks and non- banking financial companies (NBFC) will be willing to offer you a loan or a credit card. A credit score is calculated after taking into consideration several factors like payment history, credit exposure, the age of credit history, type of credit and total debt.

    Banks, NBFCs or licensed lenders with whom you transact, submit all your account details to credit rating agencies. Rating is done according to the criteria set by each agency. Your credit scores from two different credit bureaus can vary as each bureau have their own scoring model. Therefore, the variation in your credit scores is normal as well as valid. However, there are several myths that revolve around your credit score.

    Let’s Take a Look at Some of the Popular Myths That You Should Know About:

    • Don’t assume that your credit report will always be accurate

    Credit Report cannot always be accurate and there is a good chance that it will have errors. Therefore, you should check your credit report periodically to see if there are any wrong credit entries or missing records of a loan instalment. It is also possible that you are a victim of an identity theft hence, it is not safe to assume that your credit report is error-free.

    • You cannot get a free credit report

    As per the guidelines of the Reserve Bank of India (RBI), you are entitled to get one free credit report that contains your credit score, in a financial year. It is mandatory for all the credit bureaus in the country to offer one free credit report to consumers.

    • Closing your credit card will help your credit score

    One of the factors that can bring down your credit score, is cutting down the length of your credit history. Hence, it is advised to keep all your old credit cards open even if you are not using them. By keeping the cards open, you get a long credit history that helps you improve your credit score.

    • No credit history equals to no credit score

    A majority of people do not own or use a credit card, as they believe that they will still have a good credit score. It must be noted that, if you do not use your credit card, you will not have a credit history and therefore credit bureaus will not be able to compute your credit score.

    • Credit Utilisation Ratio has Nothing to do with Rating

    A credit utilisation ratio expresses the relation between the amount of credit granted and the actual credit usage. Anything between 30-35% is considered feasible. For instance, if the sanctioned credit limit on your credit card is Rs.100,000, the actual usage should not exceed Rs.35,000 to avoid the consequences of being considered an unsafe financial behaviour.

    • Low credit score means no credit card

    Lenders trust consumers with a high credit score as they are less likely to turn into a defaulter. However, each lender has a different policy and some of them might still consider your credit card application even if you don’t have a high credit score.

    • Ignoring Secured and Unsecured Loans

    Credit card companies and lenders like to observe how effectively you manage various categories of financing. Build your Credit Score through a portfolio of properly balanced secured long-run loans such as housing mortgages and auto loans; and unsecured revolving mortgages like personal loans and credit cards. For instance, making credit card payments in full in lieu of utilising the facility of revolving credit is considered positive.

    • Checking your credit score will bring it down

    This is one of the most common myths associated with your credit score. It must be noted that even if you check your credit score multiple times, it will have no effect whatsoever on your credit score. When you check your own CIBIL score, it is termed as a soft enquiry and it is completely harmless. On the contrary, when your bank or lender initiates your credit check, it is considered a hard check and this has a negative impact on your credit score.

    • Building Credit Without Credit

    Bankers would want to see your previous repayment history. It is tough to build credit with no credit history. Staying away from any type of debt completely might not always be in the interest rate of lending companies. The evidence for previous payments can put you on a higher scale.

    • Standing as a co-applicant has no effect on your credit score

    Standing as a co-applicant seems reasonable as long as you are sure that the principal borrower can repay debts. The payment obligation will be shifted to you if the principal borrower fails to make payments. It impacts your credibility.

    • Other credit bureaus also have access to your credit records

    All the four credit bureaus in the country viz, TransUnion CIBIL, Equifax, Experian Credit Information Company and High Mark Credit Information Services, have the access to your credit records. These credit bureaus are licensed by the RBI. No other credit bureaus can access your credit records.

    • Eligible for loan
    • Discount on interest rates for home or auto loan
    • Credit cards with better benefits
    • Preferential pricing
    • Power to negotiate for better deals
    • Request for a higher limit on credit cards
    • Easy availability of credit such as loans.
    • Quick processing of loan and credit card applications.
    • Possibility of negotiating or waiving processing fees
    • Advantage of requesting for prepayment options.

    How to Get a CIBIL Credit Score and Report?

    To obtain your credit score and credit report you will need to contact the credit rating agency in India, CIBIL. They will be charges involved to obtain a credit score and credit report. Any individual wanting this report will need to pay an amount of maximum Rs. 500 to obtain this report, the application process with payment applies to both individuals and institutions. Let’s say a bank or financial institutions needs your credit report with your score to check your loan eligibility, even they will need to make a payment for that copy. There are a few websites that will promise to give you, your credit report and score for free, but will ask you to sign up with them or become a member of their website etc.

    Difference Between CIBIL Report and CIBIL Score:

    A CIBIL report, also known as a Credit Information Report (CIR) is a document listing all your borrowings and repayment histories. The CIBIL score or rating is derived out of this data as well as other variables that affect your financial position.

    CIBIL scores have become the benchmark for credit worthiness in India. While CIBIL was the first Indian credit bureau, other international players have also started providing credit scores in recent years such as Experian Credit Information Company India Pvt Ltd. The importance of credit checks should not be undermined.

    In Detail:

    The credit report is a report that includes your credit score as well as other details on all your financial transactions related to credit. Your credit score is just a part of the report, which has a 3-digit number which will be anywhere in the range of 300 - 900. The credit score is a depiction of your creditworthiness, while your report will include payment history, number of loans, your outstanding balances of any loans, total of your credit limit, loan details of all loans taken from a diverse pool of lenders. The credit report is more like a report card for your credit, and the credit score is like the percentage you get on your report card. The higher your credit score is, the better it is for you. An average score of 750 is considered good for lenders to provide you with good deals and better rates of interest.

    What Factors Determine CIBIL Score

    With the launch of CIBIL Score 2.0, banks will now be able to gauge the creditworthiness and risk of new borrowers. This system provides ranks to customers who have a credit history of less than six months. The risk index is from 1 to 5, with 1 being the highest on the index and 5 being the lowest.

    Banks in India can check this database to assess and evaluate a potential borrower and whether the loan should be approved or not. According to the COO of CIBIL, this new credit scoring methodology can help banks identify 10% increment defaulters easily.

    Here’s how you know where you rank on the new scoring version.

    If your rank is ‘NA’ or ‘NH’:

    • You have no credit history, which means CIBIL has no database dedicated for your financial records.
    • Your credit report only consists of enquiries. This means, potential lenders have checked your report but haven’t approved any loan.
    • No lender or financial institution has reported any information to CIBIL in the last 24 months.

    If your rank is between 1 and 5:

    • Your credit history is relatively new and hasn’t been in the system for more than 6 months.
    • If your score is closer to one, you’re viewed as a risky borrower.
    • If your score is closer to 5, you’re viewed as a responsible borrower.

    To get approved for loans, you will have to maintain a good credit history and a clean financial record. Even though your history is less than six months old, there are certain steps you can take to improve your score and thus, your creditworthiness.

    Clear your outstanding balances on time

    There’s a reason you’re told frequently to pay your dues on time. One late/missed payment reported on your credit history can bring down your score. When you pay your bills before the dues date, you avoid late payment charges and you maintain a good score as well. You also don’t have to deal with compound interest rates.

    Maintain a low credit utilisation ratio

    It’s always important to have a balanced mix of secured and unsecured credit. If you have multiple credit cards and personal loans, it’s viewed negatively by your lender. You could be viewed as a credit-hungry borrower who is unable to manage their debt.

    Minimise your applications

    If you’re constantly applying for new credit, lenders will consider you a risky borrower. This shows that you’re not good at managing your finances. Multiple inquiries within a short span reflected in your report will cause a dip in your score.

    Review your credit report

    Sometimes, lenders or financial institutions may share inaccurate data with CIBIL. This data can affect your score negatively. It’s crucial to go through your report with a fine comb so you can dispute errors, if any.

    How Often are CIBIL Reports Updated?

    Lenders will submit all your financial information every 30 to 45 days to CIBIL. This will include your payments, your outstanding balances, delayed payments, and more. If you have borrowed finances from a smaller lender, they might share your information on a quarterly basis.

    Once CIBIL receives this data, they will process it so it reflects on your credit report. Now, if you choose to buy your CIBIL report within 45 days of paying your last dues, you may not receive the updated version. Your report may show incorrect current balances or amounts due.

    What you should do is look for the ‘Date Reported’ section in your report. If the information submitted by your lender is older than two months, and the payment details are still not displayed correctly, you should raise a dispute for the same.

    It’s advised to wait for at least 45 days before you look for your newest report or raise a dispute. Each lender may share their data in their own time. So, even if you clear all your dues for a certain period, these details will not show up on your credit report immediately.

    Now let’s say you have the latest report in hand, but the data is inaccurate. So, you decide to raise a dispute with your lender. For example, you made your credit card payment, but it hasn’t reflected in your report. When you’ve resolved this issue, your lender should ideally share the updated data with CIBIL. If they haven’t, there will not be any change in your report or score. You will then have to contact your lender to submit the details to CIBIL. This is because CIBIL cannot change your report unless your lender reports it. Keep in mind though, if the dispute has been resolved in your favour, it will take up to 90 days to reflect in your credit report.

    It’s important to thoroughly check your CIBIL report and raise disputes if you find any discrepancies.

    FAQ's on CIBIL/Credit Score

    1. What’s a CIBIL score?
    2. Credit scores that are maintained by the Credit Information Bureau (India) Limited (CIBIL) are called CIBIL scores. These are used by banks to determine your creditworthiness as well as your eligibility for various loans and credit cards.

    3. What is a good CIBIL Score?
    4. A CIBIL credit score of 750 and above is considered to be a good score and has more chances of the loan application getting approved.

    5. How is CIBIL score calculated?
    6. CIBIL score is calculated by the Credit Information Bureau India limited in conjunction with various registered credit bureaus of the country. The score takes into account your payment history, payment pattern, your existing credit channels, and the amount of credit that you own.

    7. Will opting for a credit card decrease my CIBIL score?
    8. No, opting for a credit card will not decrease your credit score.

    9. For how long CIBIL keeps the record of the defaulters?
    10. CIBIL is not required to publish the record of the defaulters, however, the CIBIL CIR contains the details of the defaults of a particular individual. The details of such defaults are on record for a maximum of seven years.

    11. Is it possible for the CIBIL Score to change?
    12. The CIBIL Score will change based on the various factors such as any change in loan/credit account, credit repayment history, missed payments, etc. The score can also change when your lender carries out a hard check on your credit report.

    13. Is there any other credit bureau apart from CIBIL that provides credit score/report in India?
    14. The three credit bureaus in India apart from CIBIL or TransUnion Credit Information Bureau (India) Limited), are CRIF High Mark, Experian, and Equifax.

    15. What is Credit Information Report (CIR) and how it different from CIBIL Score?
    16. Credit Information Report (CIR) is the complete summary of your credit history based on the last 5-7 years of credit and loan accounts. The CIBIL Score is a part of the CIR. The score is an indication of your credit/financial health that is calculated based on the various factors that prepare the CIR.

    17. Who can access your CIBIL Score?
    18. Your CIIBL Score can only be accessed by CIBIL Members such as certain banks, your lender, you, and other authorized establishments.

    19. How can I check my CIBIL Report?
    20. You can request for your CIBIL report by visiting the www.cibil.com. You will need to enter personal details such name, PAN card number, date of birth, gender, etc., clear the personal verification process, and make a fee payment in order to access your credit report.

    21. How does CIBIL gets the information of your credit/loan history?
    22. The CIBIL Members such as banks and other government agencies provide financial information of an individual on a monthly basis to CIBIL in exchange for access to the credit reports and score prepared by CIBIL.

    23. Why do the lenders need to check the CIBIL Score?
    24. While reviewing the loan/credit applications, it becomes essential for the banks to consider the repayment capability of an individual. The credit score and report help the lenders determine the repayment capabilities of an individual.

    25. What kind of credit/loan account details are included in the credit report?
    26. The credit report will show the total credit/loan amount, EMI details, missed/late payment, lender’s name, and other related information.

    27. Is it possible for CIBIL to delete or amend my credit information independently?
    28. CIBIL is not allowed to delete or make any changes to the Credit Information Report (CIR) independently.

    29. What is CIBIL 2.0?
    30. CIBIL 2.0 is a new scoring model that TransUnion CIBIL Limited uses to calculate the credit report for individuals. Individuals with a new credit history of 6 months or less are assigned a score based on the risk factors involved in lending to new borrowers.

    31. Will there be any impact if I check my credit score frequently?
    32. No. when you requesting for your own credit score/report, it will be considered as a soft check that doesn't have any impact on the credit score.

    TransUnion CIBIL is one of the leading credit information companies in India. The company maintains one of the largest collections of consumer credit information in the world. CIBIL Score plays a key role in the lives of consumers. Banks and other lenders check the CIBIL Score of the applicants before approving their loan or credit card application. Consumers can visit the official website of CIBIL to check their CIBIL Score and Report. CHECK YOUR CIBIL SCORE now.

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