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Meaning of CIBIL™ score

What does a CIBIL™ Score mean?

Credit Information Bureau (India) Limited, known as CIBIL™, is a credit rating agency that maintains credit-related records of both individuals and corporates. Member banks and other financial institutions provide data to CIBIL™ on a periodic (usually monthly) basis on all the credit related activity of their customers including any late or missed payments, loans approved, credit limit, written off or settled accounts and so on.

CIBIL™ uses complex statistical analysis on this information and converts it into a 3 digit number, called a Credit Score. This CIBIL™ Score ranges from 300-900 and reflects your credit behaviour. It gives potential lenders a snapshot of your credit-worthiness.

If you have a credit score of 750 and above, then you are considered to be a credit worthy customer and you stand a good chance of being approved for a loan or credit card. If you have a credit score of less than 750, you might still qualify for a loan, but you might not be able to enjoy all the advantages that a customer gets with a score of 750 and above.

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.

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