Consumer News In Hindi: Banking; Cibil Score; Credit Score; Loan; Doing these tasks, including timely payment of EMI and credit card installments, will improve your CIBIL score | Doing these tasks, including timely payment of EMI and credit card installments, will improve your CIBIL score

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  • CIBIL score shows whether you will get loan from bank
  • Good CIBIL score easily gives loan and low interest has to be paid.

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Jul 01, 2020, 11:56 AM IST

new Delhi. Nowadays people mostly take loans from Banik for works like taking a car, building a house or starting their own business. The bank checks its credit score (CIBIL score) before lending to any person. Your credit report shows how your record in financial matters. If you have a good credit score, you will get a loan easily and at a low interest rate. That is why it is important to have a good CIBIL score. We are telling you some ways that your credit score will be good.

Pay bills and installments on time
Loan or any other EMI and credit card dues must be repaid ahead of schedule. If you keep this habit, then your cibil will improve. Do not be careless in it.

Repayment of different types of loans
A person who has a good record of repaying debts has an equally good credit score. In this case, if you have not taken any loan yet, then you can take a loan for your need, even if you repay it on time, your credit score will improve. It is necessary to have a good loan history to make a good credit score. This may include different types of loans secured or unsecured, short term or long term.

Do not close credit card
You should avoid closing your credit card account. Keep shopping and paying bills with this. Apart from this, you should constantly review your joint account accounts, CIBIL score. In case of a joint loan, a customer has equal responsibility for payment of EMI. This has a direct impact on the credit score.

Important points related to CIBIL score

What is the benefit of keeping the CIBIL score correct?
CIBIL score provides information about past debt. Therefore, it is necessary to have a good CIBIL score for taking loans and credit cards from the bank. Paying a regular loan keeps the credit score good. The CIBIL score is between 300 and 900 points. If the score is 750 points or more, then it is easy to get a loan. The better the CIBIL score, the easier it is to get a loan. The CIBIL score is based on a credit history of 24 months.

How much does the CIBIL score depend on?
The 30% CIBIL score depends on whether you are repaying the loan on time or not. 25% depends on secured or unsecured loans, 25% on credit exposure and 20% on loan usage.

Cibil score is counted between 300 and 900
As such, credit scores range between 300 and 900. However, a score of 550 to 700 is considered fine. Scores between 700 and 900 are considered very good. There are a few ways to maintain a good credit score. Here we are talking about them.

How to check CIBIL score?
Nowadays there are many types of websites which give information about CIBIL score. Nevertheless, it is better to visit the CIBIL website. For this, you have to go to the website www.cibil.com and fill the online form. You can also download the form from here. For this you will have to pay 550 rupees. There will be an authentication process once and after that process you can download the CIBIL score and report.

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