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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
    • Bank Bazaar Credit Card
      "User friendly service"
      HSBC BANK
      0.5 4.0/5 "Great!"
      I an using the online application with bankbazaar. from bankbazaar, I had applied for a credit card and i am happy with the card. It was a good experience. The website is user friendly and convenient. I can visit the website later in case of any need.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • Bank Bazaar Credit Card
      "Great "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Amazing to know this instant offer I nèver could thing of any better option like this very hassel free with minimum documents require with lots of time saving I will recommend to my friends and family The best part is of getting Amazon voucher
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 23, 2017
    • Bank Bazaar Personal Loan
      "Digital Lending"
      TATA CAPITAL LIMITED
      0.5 4.0/5 "Great!"
      I had a good experience with bank bazaar. People are very professional and nice response as well. Nice Website and Good Service! Its complete digital world of lending....Next generation of banking..Thanking You...You guys are doing good work!
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • Bank Bazaar Debit Card
      "DEBIT CARD REVIEW "
      YES BANK
      0.5 5.0/5 "Blown Away!"
      I love the online bank bazaar portal . The site is very quick and it provides the fastest service. Nice customer service that i had never seen . Thank you bank bazaar for serving quickest and the fastest service to every customer whom they approach.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • Bank Bazaar Personal Loan
      "Nice and easy"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      It's very necessary to apply loan in these days ..and we all know banks and timings it costs thanks to you for keeping it simple and easy I would love to avail loa n and credit card through you guys as you guys are professional ..you guys saved my time to go to bank
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 23, 2017
    • Bank Bazaar All Products
      "Very fast response, awaiting for gift coupon"
      ALL BANKS
      0.5 5.0/5 "Blown Away!"
      Full process was handled in an excellent way. The follow ups made from bank bazar made the work so easy and trustworthy. Best wishes and good luck to the team. I was promised for an amazon gift coupon in the successful approval of loan and I'm awaiting for the same.
      Was this review helpful? 0
      ,
      Reviewed on Nov 23, 2017
    • Bank Bazaar Personal Loan
      "good"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      Bankbazaar has done a good job for me by contacting me on time and they also processed the details of the customer to the bank on time. There were follow up calls from time to time. The website is good and very much helpful because I could get a view of all the banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • Corporation Bank Personal Loan
      "Good. Can be more clear in the payments"
      CORPORATION BANK
      0.5 4.0/5 "Great!"
      The process to get the personal loan from Corporation bank was good. I being a salary account holder of this bank. They have provided the loan of ten months of my basic salary. Though I have made my payment every month on the said due date the bank says that I have 28 late payments.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • SBI Cards Credit Card
      "Good experience"
      SBI CARDS
      0.5 4.0/5 "Great!"
      I have recently taken a credit card with a limit of 42K with State Bank Of India and i feel that they could have given me a better limit. Apart from that i have had no issues with the process and service that i received from them. It was completed quickly and the card was given to me on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 23, 2017
    • review Gold Loan
      "Excellent services"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have taken the gold loan from State Bank of India. The process was completed in three hours. The lock in period is for a year. The rate of interest is normal and the charges are normal. It was convenient to get the loan through with minimal documentation.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • Bank Bazaar Credit Card
      "Good service"
      HSBC BANK
      0.5 5.0/5 "Blown Away!"
      It was my first time experience with bankbazaar so far and it was good, bankbazaar provides good services when compared to all other banking websites. I often get mails from bankbazaar regarding the ongoing offers. Customer service was good and their response was prompt. The mobile application is easy to use and is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 23, 2017
    • LIC Life Insurance
      "Good Investment"
      LIFE INSURANCE CORPORATION OF INDIA
      0.5 4.0/5 "Great!"
      I have so many polices with LIC, I make Rs. 75,000 on yearly basis as a premium. All polices have different tenure period, after maturity period nearly I get the sum assured of Rs. 25 lakhs. I am satisfied with LIC, it also providing life coverage, tax benefits.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • HDFC Bank Credit Card
      "Can work on the credit limit"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I been banking with HDFC Bank for the credit card for the last three years. I was initially offered a limit of 40K and now they have enhanced the limit by just 10K more to 50K. They need to work on the limit. There are other benefits of the jumbo loan and the rewards.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • Axis Bank Personal Loan
      "Need some transparency on the loan process"
      AXIS BANK
      0.5 3.0/5 "Satisfactory"
      I have requested the tenure of two years for the personal loan, but axis bank have sanctioned the loan for the tenure of five years. Hence I am not happy with their loan period, even interest rate is higher they gave 10.99% but other banks are offfering 10.5% of interest, it has to be reduced.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • HDFC Bank Credit Card
      "Good card to use"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I hold a credit card with HDFC bank from last 2-3 years, they provide good services on credit card when compared to all other credit cards. Offers like cash back and reward points are good in this credit card. They did not charge any annual fee at the time of getting this credit card. I use this credit card for shopping, paying bills, pharmacy and petrol, i am also satisfied with the credit limit.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 23, 2017
    • Axis Bank Home Loan
      "Good Experience"
      AXIS BANK
      0.5 4.0/5 "Great!"
      AXIS home loan interest is good they offered 8.65% for the loan amount of Rs. 60 lakhs for the tenure period of 20 years. But I am little disappointed with their rate of interest, initially they committed 8.4% of interest finally they sanctioned my loan with 8.65% it was bit high.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • review Saving Account
      "Nice experience"
      CORPORATION BANK
      0.5 5.0/5 "Blown Away!"
      Corporation bank is good in the banking services and it is my salary account. The bank is beneficial too. The net banking facilities are overall good and the process is transparent. There are no charges for the transactions and in all I had no issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 23, 2017
    • HSBC Bank Credit Card
      "Good card to use"
      HSBC BANK
      0.5 4.5/5 "Excellent!"
      I have applied for the credit card through online portal, my credit card application was approved with HSBC and the experience was quite good. This is a life time free credit card. Documents were collected door step, customer service was good and they responded on time. I received my credit card within 10-15 days. I often get message alerts regarding the offers on this credit card. I have a credit limit of Rs 2 lakhs which is more than sufficient.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 23, 2017
    • Axis Bank Saving Account
      "Its Convenient"
      AXIS BANK
      0.5 5.0/5 "Blown Away!"
      I am an account holder of AXIS for last six years, I am impressed with all the banking service like ATM, phone banking, other service. Its a zero balance account, they are providing good credit interest for the balance maintenance. Debit feature is good its accessible anywhere.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • Axis Bank Credit Card
      "Good to go with AXIS"
      AXIS BANK
      0.5 5.0/5 "Blown Away!"
      Last four years I have been AXIS credit card its a good experience, It has an EMI option, balance transfer, cash withdrawal option. Interest rate is also nominal as per the other credit card in the market . I am very comfortable to use Axis credit card.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
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