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  • What does your CIBIL Score signify?

    There may come a point in a person’s lifetime when taking out a big money loan becomes something of a priority in order to acquire certain things of necessity, such as a house or a car. Before doing so, however, it is imperative to understand the huge role your CIBIL score plays in proving your credit eligibility.

    A CIBIL score is a three-digit numerical representation or summary of a person’s entire credit history and is generated from the information in your credit report. These scores range between 300-900 points and take into account any information relating to the person’s creditworthiness. While most banks have their own cut-off values, a score of 750 or above is generally deemed good enough to obtain a loan, while anything less than that could make the process a bit more difficult.

    To truly understand what your CIBIL score really entails, it is necessary to delve into your credit report. Remember, the more impressive your credit report is, the higher your CIBIL score will be and vice versa.

    Probably the biggest component in determining your credit score is your past record when it comes to making your payments. In a nutshell, if you have a history of making timely payments and have shown sound financial management on a consistent basis, then this will be reflected by a high CIBIL score. On the flipside, a credit history littered with late payments, collections, financial negligence or insolvency will most certainly be reflected by a low CIBIL score.

    Banks and lenders also place huge importance on how much you owe before they decide to grant you a loan. CIBIL scores can be negatively impacted by the amount of unserviced debt you have acquired and could prove to be a major stumbling block when applying for a loan. This could be in the form of amounts that you owe on credit cards, mortgages or any other loans you have taken in the past. Regular payments of loan installments as well as maintaining a low credit card balance can show you in a positive light in the eyes of the lenders and keep your CIBIL score up.

    Credit scores also take into consideration the duration of your credit history. It is always to your benefit to have built up a long history of credit usage and as long as it isn’t dotted with account mismanagement. While it takes a while to build up a substantial credit history, it can certainly contribute to raising your CIBIL score to more-than-satisfactory levels.

    Although not as large a factor as some of the others mentioned previously, the number of new accounts you have opened can affect your CIBIL score as well. Opening new accounts while already under financial strain makes you a credit risk, which may put off banks and lenders when the time comes to approach them for loans. It is important to keep in mind that any new account you open creates a credit inquiry on your credit report. Too many of these in a short period of time will inevitably bring down your CIBIL score.

    Alternatively, your credit score also reflects whether you have a good mix of various categories of credit. While it may not make a massive difference to your CIBIL score, it can be beneficial to have multiple accounts under different classifications such as mortgages, credit cards etc, as long as they are managed with a good degree of stability and competence.

    While there certainly are more factors that go into formulating a credit score, a good CIBIL score usually ticks all the boxes above.

    Read More on CIBIL

    CIBIL Reviews

  • Page 1 of 50 1 2 3 4 5
    • review Other Loan
      "Average service"
      PAYTM PAYMENTS BANK LTD
      0.5 3.5/5 "Pretty good"
      I don't use much paytm service but as far i have been use they provide me good service and i basically use this for recharge my number or recharge DTH even i use to pay my electricity bills too i use to get cash back and its is user friendly app its easy to access,and they don't take any charges for transferring amount from my wallet to another one.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 16, 2018
    • Oriental Bank of Commerce Home Loan
      "Average service"
      ORIENTAL BANK OF COMMERCE
      0.5 3.0/5 "Satisfactory"
      I have been using my health insurance with oriental bank , there service is average, i have applied this health insurance recently, and i use to pay premium in yearly basis, and it use to get auto debit from my account, and there customer service is not up to the mark.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 16, 2018
    • ICICI Bank Saving Account
      "Bad service"
      ICICI BANK
      0.5 2.0/5 "Expected more"
      I have been using ICICI bank saving account for long time, there service is not up to the mark, like i did not applied for loan but they have mistakenly kept my name in personal loan and i ask them i have neve took any loan they said by mistake they took my name instead for any other person name and it is still getting affected in my credit score and credit limit was not that good too.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 16, 2018
    • review Other Loan
      "Good"
      PAYTM PAYMENTS BANK LTD
      0.5 5.0/5 "Blown Away!"
      I have been using paytm service for long time, there service was very good, there mobile application is easy to access and i did not find any issue if any issue in case come they use to resolve it soon like there was no need call there customer service team for any issue they itself resolve it soon and they provide good cash back.
      Was this review helpful? 1
      , kolkata
      Reviewed on Nov 16, 2018
    • Citibank Credit Card
      "Best card"
      CITIBANK
      0.5 4.5/5 "Excellent!"
      I have taken the credit card with the CITI BANK i am happy by using the services of the citi bank and they have provided the credit limit which is satisfactory,there is no annual fee they have charge in this card and they have given me good offers and discount in shopping or in fuel there service is too good.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using personal loan with HDFC bank , it have been just six months only i have been applied for personal loan and there rate of interest and processing fee is nominal which they have charge me and even loan amount was sufficient to me .
      Was this review helpful? 3
      , kolkata
      Reviewed on Nov 16, 2018
    • HDFC Bank Saving Account
      "Excellent service "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC saving account for long time, there net banking was too good like it is simple and provide all details and there customer service is very good the best part in this bank is that they provide good service and they have good brand name that was reason to choose this bank and there service is too good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 16, 2018
    • Bank Bazaar Credit Card
      "Best service"
      HSBC BANK
      0.5 4.0/5 "Great!"
      I have been using bank bazaar service for first time, my friend have referred me about bank bazaar service like they provide best service in term of any financial product and i have been using website , it is easy to access and I did not face any complications.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2018
    • SBI Cards Credit Card
      "Good"
      SBI CARDS
      0.5 5.0/5 "Blown Away!"
      I have been using SBI credit card for long time, they have not charge any annual fee in this card, and i am happy with my credit limit with they have been in this card and there Is Emi option available in this card and they give good offers in shopping and many other product.
      Was this review helpful? 2
      , kolkata
      Reviewed on Nov 16, 2018
    • HSBC Bank Credit Card
      "Excellent card"
      HSBC BANK
      0.5 4.0/5 "Great!"
      I have applied for HSBC visa platinum credit card a month ago , they have not charged any annual fee in this card as it is life time free credit card, and they have not given good credit limit i have expected bit high and they have given good offers in maximum product and the reason for choosing this bank is that they have good brand name there service is too good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 16, 2018
    • HDFC Bank Credit Card
      "Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC credit card the service was too good there is no annual fee they charge me yet and even i got 50 thousand rupees as credit limit as i am happy with the my limit, even they provide me good offers and discounts as well, customer support team is good.
      Was this review helpful? 2
      , kolkata
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Excellent service"
      LIFE INSURANCE CORPORATION OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have taken one life insurance policy with LIC. I am using this service for long time. My relative is agent of lic so he explain me all procedure and i have applied for life insurance from him only and i use to give premium in quarterly bases , i use to pay through on line around 3190 as premium amount they use to charge me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      My experience is good by taking the personal loan with the HDFC BANK and i have been taken this loan from past 3 years, and they have charge nominal rate of interest up to 17% and even there processing fee is also nominal only, i have taken my loan amount up to 75,000 it is sufficient for me and there customer support team is good.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 16, 2018
    • review Saving Account
      "Excellent service"
      YES BANK
      0.5 5.0/5 "Blown Away!"
      I have been using my salary account with Yes bank from past 2 years, and the best thing in this bank which i like most is that there service, they provide good service they instantly solve all my issues, and now i have been using this account saving account with zero balance maintenance. they provide best customer service team .
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • YES Bank Credit Card
      "Excellent service"
      YES BANK
      0.5 5.0/5 "Blown Away!"
      I have been holding my credit card with Yes bank , there is no annual fee they have charged me there credit limit is good which they have provided me in this card, there net banking is working very well and they provide good discount in movie tickets like up to 50% they provide discount in movie ticket.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 16, 2018
    • Bank Bazaar Credit Card
      "excellent"
      CITIBANK
      0.5 5.0/5 "Blown Away!"
      I have started using bank bazaar service from past 6 months they provide me excellent service and they help me to choose right card and they provide me all information about that card i came to know about bank bazaar service by surfing on line i have been using website its easy to access.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 16, 2018
    • HDFC Bank Credit Card
      "Excellent card"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC credit card for long time, they have not charge any annual fee in this card and i am happy with my credit limit which they have given me in this card, they have provide good offers and discount like in shopping and overall service is too good.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 16, 2018
    • Citibank Credit Card
      "Excellent"
      CITIBANK
      0.5 5.0/5 "Blown Away!"
      I have been applied for CITI bank credit card recently, i dont have idea that they have charge any annual fee for this card and they have provided less credit limit and i am not satisfied with the limit for this card and there support team is good they response well and the reason for choosing this bank is that they have given me good offers in shopping.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 16, 2018
    • IDBI Home Loan
      "Good service"
      IDBI BANK
      0.5 4.0/5 "Great!"
      My mom have applied for home loan from IDBI bank, there service is good, they rate of interest and processing fee which they have charge was nominal and the loan amount which they have given me was sufficient and tenure period which they given me was sufficient and it have been 2 years i have been applied for home loan from this bank, till now service i have experience was good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 16, 2018
    • Bank Bazaar Credit Card
      "Excellent service"
      HSBC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service from past six month, i came to know about bank bazaar service through on line, there service is too good, like there support team help me to give information about the financial products and i have using website there was no issue or complication in using it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
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