Does missing a payment affect the CIBIL score?
Yes, even a single missed payment can negatively affect your CIBIL score. Every missed payment that is reported by your lender and noted by the credit bureau, affects your score. Sometimes, you may miss a payment due to a temporary strain on your finances like unexpected medical expenses. Even if you make a full payment after a month or two, the missed payment will remain on your record and will negatively impact your score.
It is important to ensure that you never miss a payment if you want to maintain a good credit score. Having a good repayment record is characterized by making all loan and credit card repayment in a timely manner and in full. That is the best way to maintain a good credit score.