Credit Score India
What is a good credit score? Banks, NBFCs and other lenders use a 3 digit credit score to decide on loan approval. High credit score gets loans sanctioned easily. A good credit score saves on interest rates. You are in a position to negotiate with lenders and enjoy lower interest rates.
Having a good credit score doesn’t guarantee loans. It just improves chances of getting loans sanctioned. A CIBIL score is a 3 digit number between 300 to 900, which helps banks decide on sanctioning loans. TransUnion CIBIL is a credit information Company in India. CIBIL score of 750 and above is considered good. A credit information report or CIR gives history of credit behavior and contains detailed information on loans and credit cards.
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