What is a sibil score? free cibil score

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Sometimes, some of us lend us the loan applications. All your loan application and supplementary documents can be accurate and factual. But if the bank authorities refuses to apply, do not scrub the fringe. The problem is you do not have enough credit scores. All the same.

What is a sibil score?

Credit score is a key indicator of your financial situation. The risks that you can make for the lending institution (the bank) are also mentioned. Credit information agency CBIL (Credit Information Bureau India Ltd.) is the credit score of customers for creditors. You will look for credit scores and credit reports by sending the bank for your credit or credit card by sending it to the sibil. If your credit score is low, the application will be rejected.

The credit score given on the CB will range from 300 to 900. In general, the score of 700 or more means that you are dealing with your loan well. If you have a credit score of over Rs 750, you may get a loan for a lower interest rate. The latest figures released recently by CBE show that 90% of the sanctioned loans are available for those who have been scoring 700 or above.

sibil score determining factors

Each agency may have a slight difference in credit score determination. However, in general, a person may consider major deficiencies in financial transactions, the amount of loan taken, and number of loan applications. Failure to pay off or repayment of any of the previous liabilities is a factor affecting the credit score.

The earlier repayment is the major position (more weightage), about 35 percent. That’s how you put it on a 30 percent discounted loan. Another 15 percent for how long you borrow. Remaining 20% ​​of your loan, government tax / tax payments etc. will be considered.

By paying a fixed fee online you can know your credit score by way of the Sibil. Click on the https://www.cibil.com/freecibilscre-check.do link.

Things to note
You have to do a few things to keep a credit score high. You will have to open a credit card account in multiple banks for 10 and 15 percent discounts. Then the goods will be bought. It will save you some cash. But do not forget that you are decreasing your credit scores.

Your credit score will be cut down on your credit report several times over the short term from the lender. In particular, if you do not have too many credit accounts or your credit account is low. Further credit will reduce credit ratings. Perhaps your hard work will be at the end of your EMI (Equated Monthly Installments – Monthly Equal Times). If there are more than one credit, how does it affect your credit rating? That means banks will bid for the loan. In order to get the loan, it will also give you a credit score in different places. Similarly, using multiple credit cards is also a problem. This indicates that you are ‘credit hungry’. In the green Malayalam language, you have a lot of money!

Do not forget that the Borrower / Institution will evaluate you. They will have a perspective that you will be waiting for them where you will get the money. However, these factors may not be opposite, but may cause banks to reject loan application. For Fiko’s estimates, people who have made six or more of their credit projections for a short time are likely to become bankrupt for the same people who do not have a debt inquiry. In short, it is safe for you financially to use a very small amount of money on the credit card.

How to Prepare a Loan Score

All information collected will be prepared by a uniform analytical rating agency. That is the credit report. The agency gives you a mark by asserting that it will provide you with a credit based on how much it will safeguard the bank. That’s the credit score. From then on, the complete report of all the loans you get from various banks will be covered.

How Much Does Score Need To Loose?

Various agencies are known in different ways. The higher the score, the more the loan will be. The Sibil Ratings, which all agree, are 300 to 900. If the CBIL rating is above 750-800, the loan is easy to get.

How does Credit Score Slow Down?

If the loan repayment is not accurate, it will affect the score. Do not assume that you can pay a loan when you have money. If you do not have a monthly advance, you will have a negative mark. Returns check and marks decrease. Individual credit and credit card debt will also hurt the rating of unsecured creditors. It is also advisable to apply for several loans simultaneously. Seeking to get into many banks and searching for loans is a problem too. A big problem affecting marks is to use credit cards. Increase in credit card payments, borrowing large amounts of cards, and refinancing credit at the time of lending.
Even if you do not pay a loan from a guarantor for a friend or relative, your score will be reduced. If you’re a financial disciplinary, it will also reflect on the score.

How to score a high score?

Borrow money only for financial reasons. Close the regular monthly loan without depending on the monthly loan taken. Avoid unsecured loans such as personal loans and credit card debt. Stay away as a guarantee. Make sure that you repay the loan yourself.
If you want to take various loans for different purposes at one time, try to take the name of your family. Once the loan has been cleared, a bank must send a No Duplicate Certificate. It is also advisable to update and review the CBIL report if the loan is closed.

How to rate sibil

From the CBIL website (www.cibil.com) you know your score. Fill in the form of a fixed application form online. The SIM will be available on your e-mail address within 24 hours. Name and date of birth. Address, phone number, e-mail address, information about the loans taken. If you fill in the application form and send the application along with the necessary documents, the score will be notified in your postal address.

Remember, if you have a bad credit history, you will definitely deny the loan. Once the score is poor, it is difficult to improve again. It will take time. You should always keep a high credit score.
Another point to note is that the education borrowing is on the student’s name. Therefore, if the repayment is off, it will be bad for the person’s credit report. The score is low. In the future they will be difficult to get in the home loan, home loans, agricultural loans, self-financing loans, business loans and personal loans. If the credit scores are poor, the bank can not consider that you have a high repayment rate at that time.

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