What is a CIBIL Score?
Your CIBIL score ranges between 300 and 900. A score above 750 is considered good and unlocks the lowest interest rates.
Factors That Affect Your Score
Payment history, credit utilisation, credit mix, and the number of recent enquiries all influence your score.
How to Improve Your Score
Pay EMIs on time, reduce credit utilisation below 30%, avoid closing old credit cards, and limit hard enquiries.
Impact on Loan Rates
A 50-point improvement in your CIBIL score can reduce your personal loan interest rate by up to 1.5% p.a.