What is a CIBIL score?
Your credit score is regulated by Credit Information Bureau India Limited (CIBIL), which has direct jurisdiction over your potential interactions with lenders and financial institutions. Your loan or credit card application will be processed quickly if you have a good credit score, but if you have a bad credit score, your chances are both present and future. The main reason for our inability to keep a decent credit score on a constant basis is a lack of understanding. We frequently find ourselves in tough situations due to our ignorance, especially during difficult times. Bajaj Finserv has created a list of five critical attributes to help you establish and maintain a healthy financial history.
The three-digit TransUnion CIBIL score determines a person’s creditworthiness. This score is influenced by a person’s payment history, loans or credit cards owned, credit usage rate, and other factors. A person’s CIBIL score might range between 300 and 900. A CIBIL score of 750 or more is considered outstanding by lenders.
Candidates with this score are often approved for loans and credit cards quickly, if not instantly. Customers with a good credit score and other prerequisites can frequently obtain pre-approval loans from many lenders. Many financial organisations frequently provide credit cards and loans to persons with credit scores as low as 750.
What Is a good CIBIL score?
When you perform a credit-score check free online by PAN number, you will discover that your score falls between 300 and 900. A score closer to 900 is regarded as adequate for obtaining a new loan or debt. People having a credit score of 650 or more are generally regarded as credible enough to repay a debt.
The table below depicts CIBIL scores and their credibility:
| CIBIL Score | Credibility |
|
Very good |
|
Good |
|
Average |
|
Below average |
How to check CIBIL score online for free
Let us begin by defining CIBIL (Credit Information Bureau (India) Limited). CIBIL is a major credit rating agency in India that evaluates your creditworthiness. Because of CIBIL, India may easily be regarded as a financially literate country. It has increased the transparency, trustworthiness, and structure of financial markets to enhance awareness among financial institutions and enterprises about risk management and bad loan control.
A CIBIL check is performed over the internet. Banks and financial organisations look at the CIBIL score before making a loan decision. Regularly review your credit profile to ensure that it appropriately reflects your creditworthiness and is free of errors and abnormalities. This allows you to keep track of changes and identify suspicious activities. Here are some methods for checking their CIBIL score online.
By PAN card:
Because the CIBIL score is so important in making you respectable enough to secure a loan, it is critical to keep monitoring it on a regular basis. Follow the steps below to check your credit score for free online using your PAN number:
- Visit the official website for credit score login.
- Look for and select the free credit score tab.
- Furthermore, on the new page, you must provide information such as your name, email address, mobile number, and so on. You must enter the registered mobile number here to receive the OTP for completing the CIBIL score login procedure.
- Upload a Voter ID, PAN number, DL number, Ration card number, or Passport number as ID evidence.
- After entering all the essential information, click the ‘Accept and Continue’ option.
- Following that, you will receive a system-generated OTP on your cell phone.
- To receive the credit score, check free online by PAN number, fill out the OTP on the page and click the ‘Continue’ option.
Through the Bajaj Finserv website
- Visit the Bajaj Finserv website and click on “Get Your CIBIL Score.”
- Fill out the form with the necessary information (Name, DOB, ID proof, loan history).
- After you submit the form, the payment page will be displayed. A credit report from CIBIL costs money.
- After you have completed your payment, the authentication screen will appear. For identification, at least three of the five inquiries about your credit history must be correctly answered.
- The report will be delivered to your mailbox in less than 24 hours once it has been validated.
Check your CIBIL score with your Aadhaar card.
- An Aadhaar card is required for address verification.
- The address provided must match the address on the Aadhaar Card for all methods of checking CIBIL score online.
Your credit score is critical for convincing debt collectors to grant you a new loan. As a result, you must check your credit score on a regular basis to understand the impacts of your financial behaviour on your score or to report an inaccuracy in the credit report. If you discover a flaw or an incorrect entry in the report, you must take the required steps to notify the authorities so that repairs can be made by presenting legitimate documentation.
However, keep in mind that your most recent credit-related actions may take up to 45 days to appear in the CIBIL report. As a result, you must wait at least a month and a half for an update in your score, and if it still does not display any information, you must report it to the authorities.
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