What is good CIBIL Score

In this article, we are going to cover what is good CIBIL Score?. On how much CIBIL you can get loan easily? Some people ask the question like we never take loans then why we have to maintain the CIBIL score? So if you want to answers these types of questions then you must have to read the full article.

You can easily check your CIBIL score by visiting the CIBILs website.

So let's talk about what is a good CIBIL score and what is a bad CIBIL score?

• Cibil Doesn’t decide:

CIBIL doesn't decide what is a good or bad score. CIBIL is only a credit rating agency and this agency does not disburse the loan. Bank and financial institutions decide what is a good CIBIL score for them. Some banks consider 750 is a good score for them where some banks consider 800 is a good score for them. So as one of the reputed Private finance companies in Delhi we can say that it varies NBFC to NBFC or bank to bank

• 750+ is the good score:

As our experience 80 percent of loans disbursed to the peoples who have 750+ CIBIL Score. So we can say that 750+ is a good CIBIL score. If you can maintain the 800+ CIBIL score then it is very good because when you maintain the 800+ score you can get any type of loan very easily.

• 650 to 750 Score:

If your score is between 650 to 750 it doesn't mean you are not eligible to get a loan. Small banks and NBFCs will definitely give you a loan. But they charge you higher interest than the market rate.

• If your score is less then 650:

If your CIBIL Score is less than 650 then it is considered as a bad CIBIL score. You may have faced multiple problems to get a loan with this CIBIL score. In most cases, your loan will be rejected. So if you want to get a loan then you should have to improve your score.

Why Good CIBIL score is Important?

1. You can get loan easily without any hassle.
2. If your CIBIL is more than 800 then you get the loan on the lowest interest rate.
3. CIBIL score is the most important deciding factor in unsecured loans Ex. personal loans, Credit cards.
4. Last and most important, lots of people say we don't need debts then why we maintain CIBIL? And the answer is you may not need debt now but you may need it in the future. And it takes a long time to build a good CIBIL score.

Pro Tip: we are the company who offer Personal loan for CIBIL defaulter and we suggest you pay your credit card bills and other EMIs on time. It will definitely help you to improve your CIBIL score. If you pay your loan and credit card bill one time then you can easily maintain 800+ CIBIL score.

HI i am riya sharma. and i am working as digital marketer at vintage finance one of the reputed private loan company in delhi.