Check your CIBIL score and loan eligibility instantly. Quick, easy, and hassle-free!
In India, the CIBIL Score ranges from 300-900 and is further divided into several categories:
CIBIL Score
|
Credit worthiness
|
|
---|---|---|
550 and below
|
Bad
|
You have a low chance of getting a loan, especially for a high amount. Discipline your finances before applying for a loan. |
550 - 649
|
Poor
|
Delayed loan payments reflect the risk of not paying a loan on time. Improve your score by paying previous loans before applying for new ones. |
650 - 699
|
Average
|
Loan approval is possible but with higher interest rates and fewer benefits. Improve your score by making timely payments. |
700 - 749
|
Good
|
With a good CIBIL Score, your chances of loan approval increase. Further, improve your score to get better interest rates. |
750 - 900
|
Excellent
|
This score indicates timely payments. Borrowers with super CIBIL Scores are considered low-risk and can get high loan amounts at attractive interest rates and minimal paperwork. |
A credit score is a 3-digit number (between 300 to 900) calculated by the credit bureau using the credit history of the individual.
Banks and NBFCs (Non-Banking Financial Companies) have to share the credit history of their customers with all four credit Bureaus.
The credit history of an individual consists of credit amounts, lender names, loan and credit card limits, loan EMI and credit card bill payment records, any default on a credit card account, personal details, etc.
This may happen due to the following reasons:
You can build your credit score in 4 steps:
⦿ Use only 50% of your credit card limit a month.
⦿ Pay all your loan-related dues on time.
⦿ Use credit cards regularly based on your requirements.
⦿ Make timely payments of your credit card bills or EMIs.
A credit report is a statement of all the loans and credit card history of an individual reported to a credit agency by lenders – Banks & NBFCs. Credit card history is data that has all the information about the current credit status such as credit card payments, loans, etc.
Having a good credit history gives you the benefit of creditworthiness with helps you to avail loans seamlessly.
Following are the prominent factors you must consider to manage a good credit score:
⦿ Repayments of credit card bills and loan EMIs on time.
⦿ Utilization of credit card limits.
⦿ Duration of credit cards and loan amounts.
⦿ Total number of credit cards and loan amounts.
⦿ Balance between secured and unsecured loans.
⦿ Settlement status of credit cards or loan amounts.
The repayment tenure generally ranges from 12 to 60 months, depending on the lender and your financial profile.
Some lenders offer 100% financing, meaning no down payment is required. However, this depends on your credit profile and the car’s value.
Interest rates depend on factors such as your credit score, loan amount, car’s age, and repayment tenure.
Additional charges may include processing fees, prepayment penalties, and late payment fees, which vary by lender.
You can apply online by filling out our application form, or contact our support team for assistance. We’ll connect you with the best lenders offering competitive rates.