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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
      "Excellent"
      PAYTM PAYMENTS BANK LTD
      0.5 5.0/5 "Blown Away!"
      I been using Paytm for the last five years and till date I have not faced any inconvenience. It has been a smooth process to do all my transactions with ease. I use it for everything like the recharges and also the utility bill payment. It has been satisfactory till date.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 21, 2018
    • HDFC Bank Credit Card
      "Banking online needs improvement"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      HDFC Bank has to be more transparent in the online banking. I am unable to view all my transactions clearly. I bank with them for a credit card. The offers and the credit limit is good. The card is accepted all over. But the banking online needs improvement.
      Was this review helpful? 3
      , thane
      Reviewed on Sep 21, 2018
    • Citibank Credit Card
      "Online banking needs improvement"
      CITIBANK
      0.5 3.0/5 "Satisfactory"
      I hold a Citibank credit card and there are no hassles in the process. There are good offers and the credit limit is good. But the net banking is not up to the mark. I am unable to see my transactions in detail. They need to be more transparent. It is a free card.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 21, 2018
    • SBI Saving Account
      "Excellent"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I hold a savings account with State Bank of India. The customer services and response is good. The services at the bank is also satisfactory. I am also satisfied with the online banking. It is very convenient to complete my transactions with ease.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 21, 2018
    • SBI Cards Credit Card
      "Very good services"
      SBI CARDS
      0.5 5.0/5 "Blown Away!"
      I get a lot of rewards on my State Bank of India credit card. They provide 10X points on shopping. The credit limit is okay. There is a balance transfer option on the card and it is free for life. The customer support and response is good and in all no hassles.
      Was this review helpful? 2
      , thane
      Reviewed on Sep 21, 2018
    • Bank Bazaar Credit Card
      "Excellent"
      HSBC BANK
      0.5 5.0/5 "Blown Away!"
      It is a good experience with Bankbazaar as I had no hassles and the process was smooth. I also got a Amazon voucher as well. The website is easy to use as I can compare various credit cards and select the right one. There are also follow up calls too.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 21, 2018
    • HSBC Bank Credit Card
      "Nice experience"
      HSBC BANK
      0.5 4.0/5 "Great!"
      The process was good at HSBC. I got the credit card on time. I got it in 20 days. The credit limit is good and it is a life time free card. The card does not have any much of offers. I will use it for the other requirement like shopping. In all it is good overall.
      Was this review helpful? 1
      , thane
      Reviewed on Sep 21, 2018
    • review Other Loan
      "Excellent"
      PAYTM PAYMENTS BANK LTD
      0.5 5.0/5 "Blown Away!"
      I use Paytm for everything. The services are good. The transactions are smooth and I can pay the utility bills and also for the other transactions and also for the recharges too. There has been no issues till date. Overall it is good and supportive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2018
    • Bank Bazaar Home Loan
      "Satisfactory"
      HDFC LIMITED
      0.5 4.0/5 "Great!"
      My experience was really very satisfactory with BANK BAZAAR . I am happy with the customer service and responses here but the executives keep changing on call which is very difficult to communicate .Their website is amazing and its very user friendly.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 21, 2018
    • Axis Bank Credit Card
      "Satisfactory"
      AXIS BANK
      0.5 5.0/5 "Blown Away!"
      I also hold a credit card of Axis bank. There is a credit limit of three lakhs. The offers are good and it is a life time free card. There are no hassles in the customer services. They are responsive and they send me the statements on time. Overall good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • HDFC Limited Home Loan
      "Excellent"
      HDFC LIMITED
      0.5 5.0/5 "Blown Away!"
      My credit card was taken with HDFC LTD. The process was amazing and there are no issues faced.The loan amount was 1 crore and the interest rate was satisfactory . The customer service and responses was really amazing and the given tenure period was 30 years. The processing fee was pretty nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 21, 2018
    • Axis Bank Saving Account
      "Banking is good"
      AXIS BANK
      0.5 5.0/5 "Blown Away!"
      I bank with Axis Bank for the savings account. The customer services and response is good. There are no hassles to complete my transactions. I do not have to visit the bank and I can do all my banking online. The services at the bank is also good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • Bank Bazaar Credit Card
      "Excellent"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      It is a on time process with Bankbazaar. They contacted me on time and informed me the details and processed my information to the bank. There were follow up calls too. It is also easy to use the website and place a request. In all a very good process.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • Bank Bazaar Home Loan
      "Satisfactory"
      HDFC LIMITED
      0.5 4.0/5 "Great!"
      I have taken my loan via BANK BAZAAR. I am really happy with the customer service and responses . There is no inconvenience faced and i have used the web-portal's which has many good options on banks and interest rate so my overall experience was amazing so its recommendable.
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 21, 2018
    • HDFC Limited Home Loan
      "Average"
      HDFC LIMITED
      0.5 3.5/5 "Pretty good"
      My home loan was taken with HDFC LTD . The loan amount was 22 lakhs and the interest rate was satisfactory . The tenure period was 21 years . The process was not up to the mark.since they have delayed the process here. There is no proper commutation and i did receive any calls from the institution end for any information.
      Was this review helpful? 1
      , delhi
      Reviewed on Sep 21, 2018
    • Kotak Credit Card
      "Nice experience"
      KOTAK MAHINDRA BANK
      0.5 3.0/5 "Satisfactory"
      I have not yet used the credit card with Kotak Mahindra Bank. The process to receive the card was fast. There were no hassles. The credit limit is less, it could be better if the card is enhanced. It is a life time free card. I use the card for shopping and movie tickets and groceries.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • review Credit Card
      "Average"
      STATE BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      My credit card was taken with SBI 1 year back. The credit limit is 1.5 laksh which is satisfactory and i hold FBB style up card for which i am getting fashion big bazaar offers. The customer secrecy and responses was good. Its chargeable card and the mobile application is very good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 21, 2018
    • HDFC Bank Credit Card
      "Satisfactory"
      HDFC BANK
      0.5 4.0/5 "Great!"
      My credit card was taken with HDFC Bank 2 years back. They have offered times card and the limit is 1.3 lakhs which is quite good. Its a chargeable card and its very nominal. The customer service and responses was very good. The benefits are 25% on movie ticket and reward points.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 21, 2018
    • ICICI Bank Credit Card
      "Very good"
      ICICI BANK
      0.5 4.0/5 "Great!"
      My credit card was taken with ICICI bank 3 years back. They have offered platinum card and the credit limit is quite good. The service and response was very good. The Arte of interest is very high when compared with other banks. Its a life time free card.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 21, 2018
    • ICICI Bank Saving Account
      "Satisfactory"
      ICICI BANK
      0.5 4.0/5 "Great!"
      My salary account was taken with ICICI bank 7 years back. They have offered visa card and the daily withdrawal limit is 10,000. I am happy with th customer service and responses. Its a 0 balance account and the Mobile application is very good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 21, 2018
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