Have you checked your CIBIL score ???
CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e Credit Information Report). A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. A CIR does not contain details of your savings, investments or fixed deposits.
Why it is important
Today any financial institution or bank before giving you loan checks your CIBIL score.
They may not ask you or tell you but they do it as a part of their process. So people with higher CIBIL score gets loan easily as well as get discounted rates.
So it makes sense for you to take out your CIBIL score before the banks does it.
You can check your CIBIL score for free on www.paisabazaar.com
What is a good CIBIL score
CIBIL score ranges between 300- 900.Anything above 700 is considered good.
Finally what will you gain
-Will get loan easily
-Lower interest rates on your loans
-Will get higher loan compared to people who have lower CIBIL Score
#CIBIL #LOANS #CREDITRATING
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