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Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.
You know it is time to buy a new vehicle, but you have one thing holding you back, your CREDIT SCORE. However, you are not sure for what credit score is required to buy a car. There is no fixed minimum score for getting a loan. In general, it is advisable to have a score of 750 or above to stand a good chance of being approved. The CIBIL™ Score ranges from 300 to 900 and the higher your score, the better your ability to get a loan.
Yes, you can get a loan without a CIBIL™ Score but it is a longer and more difficult loan-approval process. Moreover, you might be offered unattractive terms and conditions on your loan such as a higher interest rate or shorter repayment period. However, with a good CIBIL™ Score, you can get a lower interest rate, longer repayment period, larger loan amount and simpler documentation.
If you have a poor credit score, it is still possible to avail of a car loan as the banks hold the car as security collateral until you repay the full loan amount with interest.
A bad CIBIL™ Score arises for the following reasons:
Late or missed payments : If you make any delay in payments towards either credit cards or loans, it causes a negative effect on your CIBIL™ Score.
Exceeding credit limit : Using up the whole credit limit that is provided to you is a sign that you are not disciplined about spending. Make sure that you do not use more than 50% of your total credit limit. This will have a positive impact on your score.
Rejected loans : If your loan has been rejected, do not apply for another loan immediately, because there is a high chance that the second loan will be rejected as well. Each loan rejection causes a drop in your credit score. Improve your credit score first until you are loan-eligible, and then apply for the loan again.
While there is no fixed minimum CIBIL™ score to apply for an auto loan, it is recommended that you ensure that you have a score of at least 750 before you apply to avoid potential rejection.
CIBIL™ Score for HDFC Car Loan
CIBIL™ Score for ICICI Car Loan
CIBIL™ Score for SBI Car Loan
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A CIBIL™ Score is an indicator of an individual’s credit worthiness. It impacts the individual’s ability to borrow
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
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