CIBIL Score Range

Your CIBIL score vary depending on your past repayments record.

CIBIL Score Ranges between 300 and 900, where 300 is considered as a bad CIBIL score and 900 is considered as excellent CIBIL score. A CIBIL Score of 750 or above is considered as a good CIBIL score which makes it convenient for the applicant to avail loan or credit card. Lenders will consider you as a responsible borrower and an ideal candidate to take out a loan from them. Before applying for a loan, find out what a good credit score range is that you need to have.

Let's find out how the different CIBIL Score can affect your creditworthiness.

Additional Reading : TransUnion CIBIL Score

As you can see in the chat, the best CIBIL score range remains around 900. Even if you have a CIBIL score above 800, The chances of your loan application being approved will always be on the higher side.

If you have a CIBIL score of around 650- 750, your options will be medium. Whether or not you will be eligible to take out a loan will depend on your particular lender's terms and guidelines.

A good CIBIL score range remains around 750- 900. If you have a lower credit score, focus on improving your credit reports before applying for any loan, for it has a higher chance of getting rejected. A good CIBIL score remains around 752 900. If you have a lower credit score, focus on improving your credit reports before applying for any loan. It has a higher chance of getting rejected by your potential lenders.

Additional Reading: CIBIL Score Check Free Online by Pan Number

If you intend to apply for a loan soon, make sure you check your current CIBIL score range to be on the safer side. If you do not check your credit score and apply for a loan, you might face financial troubles in the future.

You do not have to visit the bank or the CIBIL company to check your CIBIL score online by following a few steps.

1. First, visit the CIBIL company's official website to check your CIBIL score fast.
2. You will be asked to put your personal details such as your email ID, phone number, address, to name a few.
3. You will then be asked to confirm your email ID and phone number. An OTP will be sent to your registered mobile number or email ID. You will have to verify these details successfully.
4. After you put these details successfully, your CIBIL score will pop up on the screen.
5. You can also apply for personalised loan plans on the CIBIL company's official website.

The website will charge some amount to give you a personalised CIBIL report along with loan plans. Your current CIBIL score report will let you know whether or not you have an ideal credit score and you are eligible to apply for a loan at the moment.

You can also check CIBIL score range online for free by visiting the official website of the CIBIL company. Skip the paid version’s request page to check your range scores for free. Ensure you select all your details successfully to get the exact report you can rely on before applying for a loan.

Additional Reading: CIBIL Dispute

Additional Reading: CIBIL Score Meaning

Your CIBIL score rating can affect your loan or credit card application. Here’s how:

• Excellent CIBIL Score: An excellent CIBIL score of 800 or above can make your loan application process easy. With such a credible score, the chances of getting a loan approval are strong. Also, being highly creditworthy with this score enables you to negotiate for the lowest interest rates. The financial institutions may also offer you a loan on favourable terms.
• Good CIBIL Score: Having a CIBIL score range of 700 to 799 is considered good and improves your chances of loan approval. However, some financial institutions may still reject your credit application with this score range. The banks that approve your loan may offer you considerably higher interest rates at unfavourable terms compared to the borrowers with excellent scores.
• Fair/Average CIBIL Score: Having a CIBIL score range of 600 to 699 can negatively impact your credibility for credit. With this credit score, the chances of getting rejection for your loan application are high. Even if the lender agrees to offer you a loan, they may ask you to bring a guarantor. In the case of secured loans like a home or car loan, a higher down payment may also be asked for. Banks may also levy a higher interest rate on your loan.
• Poor CIBIL Score: Any CIBIL score below 600 is considered poor and can make your credibility worse. With such a score, the chances of getting a loan approval are poor as it puts you in the category of risky borrowers. This is because the bankers may worry about getting their loan repaid timely based on your credit history.

Additional Reading: How to calculate credit score?

Your CIBIL report will be examined by the lenders when you apply for loans. It will help them understand whether or not you are a compatible customer who makes their repayments on time, have no history of missing out on deadlines, and have an overall good credit image. Several factors can affect your credit score. To maintain a good CIBIL score range consistently, you need to make sure you consciously make an effort to follow a few steps.

Some of the most essential yet straightforward steps that you need to keep in mind are as follows:

• Make sure you pay your monthly bills, EMIs, credit dues on time. Do not delay making payments, for it can have a massive impact on your overall credit score.
• Keep your monthly expenses within 30% of your credit card limit. Do not cross 40% every month to make sure you have a good CIBIL score range consistently.
• Do not apply for multiple credit cards in a short span. Take at least a medium gap before you go ahead and apply for two or more credit cards. Having credit cards can make you look desperate.
• Do not miss out on making repayments timely. Even a single let payment can hamper your credit score immensely. Your lenders may send out requests to credit rating agencies for enquiry purposes, eventually decreasing your credit score.

Additional Reading: What is Equifax credit score?

Here’s the CIBIL score chart with an explanation:

Each CIBIL score range determines your chances of loan/credit card approval. Let us understand all the above ranges in detail:

• 800 & above: If your CIBIL score falls in this range, then you have nothing to worry about. Your efforts in handling your credit efficiently have resulted in giving you the best CIBIL score range. It shows that you have paid all your credit dues on time. With such a high score, lenders will find you distinctly creditworthy.
• 700 to 799: If you have a credit score in this range, you are relatively doing well as it is considered a good range. Most people fall in this range. This CIBIL score range means you have a reliable credit history. However, there is still some scope for improvement to increase your chances of credit approval by achieving a score of 800 or more.
• 600 to 699: This credit score range shows poor credit handling in the past and implies that you have irregular repayment behaviour. While some lenders may still find this score acceptable, most of them may reject your loan application. Make sure you make timely EMI and credit card payments to stop your score from falling further.
• Below 600: This credit rating falls under the poor range and is unacceptable by most financial institutions. It shows poor creditworthiness and poses you as a risky borrower to the lenders. Usually, people with this score have previous defaults on their loan instalments or miss the credit card bill payments. If you fall in this category, take significant measures to improve your score.

If you consistently have a credit score of 800 and above, it can be highly beneficial to you in the long run. You can enjoy several benefits by having a decent CIBIL score even when you don't apply for loans. If you consistently have a credit score of 800 and above, it can be highly beneficial for you in the long run.

The significant benefits that you can enjoy are:

• Firstly, you can apply for several loans and credit cards when you have a good credit score. A good credit score indicates that you have been handling your expenses well and making repayments timely.
• A decent credit score will help you receive multiple rewards and benefits from your lenders. You can pay lower interest rates if you maintain a good credit score.
• You will also have higher credit limits to spend than others with lower credit scores. It will help you have a better lifestyle as per your choices.
• Most lenders offer pre-approved loans to those who have a long and good credit history. Even in general cases, your loans will get approved sooner if you have a credit score of 850 and above.
• Your credit score can also impact when you apply for a visa. With a good credit score, you can have additional momentum while applying for the visa.
• Even if you think you do not need to apply for any loan or credit cards at present, maintain a good credit score for the future. Emergency loans such as home loans, wedding loans, home remodelling loans will also be affected by your credit score range.

Also Check: Experian Credit Score

Also Check: How To Increase CIBIL Score

CIBIL score is a credit rating given by the Credit Information Bureau India Limited (CIBIL). The CIBIL score ranges between 300 and 900, where 900 is considered an excellent score and 300 is considered a bad score. It analyses an individual’s credit history and rates their creditworthiness.

Having an excellent or even a good score increases your chances of loan approval at a lower interest rate and also facilitates a hassle-free process. A high credit score proves how creditworthy you are by showing your past credit repayment behaviour and marks you at low risk for lenders. Thus, it helps you in availing of any credit with ease, getting lower interest rates, and instant approvals.

A high credit score also enables you to negotiate for better loan terms and enhances the chances of getting qualified for the best loan deals. Therefore, it is imperative to improve your credit score to avail of credit at low interest rates.

If your CIBIL score is not good enough to get you a better credit offer, then you must improve it by following some tips mentioned below:

• Pay Dues on Time: Make sure you pay your credit card dues and loan EMIs on time by setting monthly reminders. Try to pay your bills by the due date. You can also opt for an autopay or standing instruction option for automatic deduction of bills from your account.
• Maintain a Healthy Credit Utilization Ratio (CUR): You can increase your credit limit or try not to overuse it to improve your average credit score. The golden rule is to keep your CUR below 30% regularly.
• Don’t Close Old Accounts: Avoid closing your old loan and credit card accounts till the time you reach an excellent credit score. Since the CIBIL score depends on the length of your credit history, closing those old and unused credit accounts may end up lowering your credit score.
• Don’t Apply for New Credits: Avoid applying for a new credit card or loan unless you actually need to. Too many hard inquiries in your credit report on a frequent basis can drastically affect your score.