Check CIBIL Score Online Free – How much is a good CIBIL Score

CIBIL score check: CIBIL score means credit score which basically tell banks about repaying your loans. It also becomes a measure that tells about paying your payments on time. So, based on your CIBIL score or credit rating, it is determined about paying your loans on time.

The full form of CIBIL is Credit Information Bureau India Limited. This score maintains your credit score and calculator. The cibil score also determines about your control on your financial condition. In this document, you will go through about Cibil Score in depth.


What is Cibil Score?

Cibil Score, also known as Credit Information Bureau (India) Limited Score, is a numerical representation of an individual’s creditworthiness.

This score is based on an individual’s credit history, which is maintained by credit bureaus like CIBIL, Equifax, Experian, and CRIF High Mark.

The score ranges from 300 to 900 points, and a higher score indicates a better creditworthiness of an individual.

Lenders, banks and financial institutions use this score to determine the risk involved in giving out loans or credit, and to decide on the terms and interest rates for the same.


What is a good CIBIL Score?

CIBIL Score is basically a 3 digit numeric number which is also known as Credit Score. This number ranges from 300 to 900. Take a look below if your score is healthy:

  • If your Cibil Score comes out between 300 to 500, it falls under poor category
  • If your Cibil Score comes out between 550 to 650, it falls under average category
  • If your Cibil Score comes out between 650 to 750, it falls under good category
  • A Cibil Score of 750 to 900 falls under the category of Excellent
  • This score remains valid at all times which helps you get loans at a faster and cheaper rates
  • If your CIBIL score is bad, you will face issues to acquire a loan


How to calculate Cibil Score?

CIBIL score is calculated on your credit history which is prepared on the basis of a person’s spending history in the last 36 months. If you wish to calculate your Cibil Score, please adhere to the following points:

Credit Mix: It’s crucial for you to maintain a balance between secured loans and unsecured loans to make a good impact on it

Payment History: Late payments always impacts negatively on your CIBIL score. To avoid this, please make a habit of making your payments before the due date

High Credit Utilization: In case, you exceed the utilization of the credit card limit, bank won’t be able to give you loan in future. It’s better if you maintain 30 to 40% of your credit limit

Multiple Inquiries: If you tend to make so many inquiries at the same time and are also have borrowed in the recent past, it will impact your score negatively

Debt to Income Ratio: In ideal cases, you need to maintain your debt to less than 50% of your income on your mortgage and credit card bills. If you maintain a high debt ratio, it will lower down your credit score


How to maintain a good CIBIL score?

Pay your bills on time: Late payments have a negative impact on your credit score. Paying bills on time will show creditors that you are a responsible borrower.

Keep your credit utilization low: Credit utilization refers to the amount of credit you are using compared to the credit limit. Keeping your credit utilization low will show creditors that you are managing your credit well.

Limit your credit applications: Each time you apply for credit, it results in a hard inquiry on your credit report which can negatively affect your credit score.

Monitor your credit report: Keep an eye on your credit report for any inaccuracies and errors. Dispute any inaccuracies to ensure that your credit score is accurate.

Use a mix of credit: Having a mix of credit, such as a credit card and a loan, shows that you can handle different types of credit and can positively impact your credit score.

Maintain a long credit history: Creditors prefer borrowers with a long credit history because it shows that the borrower has a good long-term financial track record.


Importance of Cibil Score for getting Personal Loan and Credit Card

Your CIBIL score will always pay a crucial role in availing loan. It’s because whenever you try to apply for a loan, the lender will simply check your CIBIL score to know about your credit history along with your creditworthiness.

So, if your credit score is positive, it will help you get a loan quickly. But if it is low, you will face difficulty in acquiring a loan.


How to check cibil score online?


  • Next, click on the ‘Get Your CIBIL Score’ option after you reach to the home page
  • Enter your ID proof information
  • Enter details of your credit card to calculate your CIBIL score
  • If you need more than one report, you need to make many subscriptions
  • If you wish to grab paid membership information, you need to authenticate yourself
  • An OTP will be generated that will come to your mobile number you have entered
  • Click ‘Submit’ option
  • You will now receive your CIBIL score along with credit report


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