: Check Free CIBIL Score? #IndiaNEWS #Business What is CIBIL Score? A CIBIL score, also known as a credit score, is a three-digit number that shows how well youve managed credit in the past, such as

Check Free CIBIL Score? #IndiaNEWS #Business
What is CIBIL Score?
A CIBIL score, also known as a credit score, is a three-digit number that shows how well youve managed credit in the past, such as a home loan, personal loan, or credit card. Its basically a calculation of your borrowing capacity based on your credit history.
Simply put, your credit score tells lenders whether youre a reliable or risky borrower, as well as how likely you are to repay a new loan responsibly.
When you apply for a loan or a credit card, the lender bank or NBFC looks at your credit score and history, both of which are kept on your credit report. On a scale of 900, your CIBIL score is calculated.
Why a Good CIBIL Score is Important for Loans?
You have an excellent CIBIL score if it is between 700 and 900. This will be taken into account when banks and NBFCs assess a loan application for most retail loans, whether its a home loan or a vehicle loan.
A high credit score, also known as a credit rating, offers a number of benefits during the loan application process, including The the loan application should be completed as quickly as possible.

It is simpler to complete loan documentation.
Low-interest loans are available.
Increasing the amount of the loan
Longer or more flexible repayment terms are available.

To find the best loan for you, you can choose from a number of lenders. A high score will also result in a quicker and easier documentation process. You can expect to borrow up to 80% of the total cost of the house for a home loan if your credit score is between 700 and 900.
How to Check Your CIBIL Score Online:
Heres how to determine your CIBIL score:
Step 1: Go to the official CIBIL website, www. cibil. com/.
Step 2: From the drop-down menu, select Get your CIBIL Score.
Step 3: Click Click here to get your free Annual CIBIL Score.
Step 4: Enter your name, email address, and password into the form. a photocopy of your identification (passport number, PAN card, Aadhaar, or Voter ID). Then enter your personal information, including your PIN code, date of birth, and phone number.
Step 5: Click Accept and continue.
Step 6: Your phone number will receive an OTP. After entering the OTP, click Continue.
Step 7: Look at your credit score on your dashboard.
Step 8: Youll be redirected to myscore. cibil. com.
Step 9: Once youve logged in, click Member Login, and youll be able to see your CIBIL score.
How to Improve Your CIBIL Score?

If you dont have a good CIBIL score, being disciplined with your credit and repayment habits can help you improve it in a few months.
Check your credit score online and keep it healthy by paying your loan Equated Monthly Instalments (EMIs) and credit card bills on time.