Mumbai: Having a good CIBIL score is a must to get loan from banks in the country. CIBIL score is a three-digit number. It reflects the creditworthiness of the person seeking loan. Banks in the country, review the CIBIL score while approving the loan and new credit application.
Here is how to check CIBIL Score:
Several online platforms offers free CIBIL score checking facility. The process can be completed within minutes online. One can either log on to the CIBIL website to check credit score or use other service providers and tools from financial institutions for a free CIBIL Score check.
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The user need to fill a simple form. The form include name, date of birth, ID proof, contact number, address and income details.
CIBIL considers four important factors, which include your repayment history, credit utilization, credit enquiries, and the types of credit you have. Each of these factors accounts for a certain percentage of your CIBIL score. Generally, a CIBIL score of 850 and above is considered excellent and implies high creditworthiness. A CIBIL score of 750 to 849 is considered good and a score between 700-749 is considered okay.
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