You are just a few clicks away from your free credit report & credit score. Share your name, phone number & email address to check your Experian score. The process is protected by OTP. Along with credit score, you can also check a list of preapproved home loans, personal loans and credit cards for your profile.
A Credit Score is a numerical representation of one’s credit health. A Credit Bureau keeps track of an individual’s credit history and credit behaviour and prepares a credit report reflecting their credit score and rating. A credit score is universally accepted as a measure of credit worthiness of an individual or a business. Generally Credit Score ranges from 300 to 900. Higher is the credit score, better is your credit eligibility.
Banks and financial institutions check credit score of an individual or business to determine risk premium associated with lending decision. Thus people who maintain good credit score are often flooded with preapproved offers from banks.
A credit bureau calculates your credit score & you can check instantly online. You cannot calculate your score on own. However you can ensure a good credit score by maintaining regular repayments and good credit history. Other factors that help your score include a good mix of secured & unsecured loans, optimal credit utilisation ratio, length of accounts and recency of credit queries.
To buy a house, you can apply for a home loan. Being a secured loan, you can avail a good home loan offer starting at credit score of 600. To avail the best home loan offers, your credit score should range from good to excellent.
To improve yourCIBIL Score you should first pull out your credit report and check your score. Look for any manual or systematic errors. For instance, if your bank has written off your account without updating to the bureau, your score would have suffered its toll. You would require to raise a dispute and get the status updated as Closed. This will improve the score. Furthermore, you need to ensure regular repayments, a right mix of loans and optimal credit utilisation ratio to improve your score.
To maintain a good CIBIL Score, ensure regular repayments of your loan EMIs and credit card bills. Ensure that there are no delinquencies or delays in repayments. Do not raise multiple loan queries. Maintain a good balance of secured and unsecured loans. Following these simple habits, will help you retain a good credit score.
To get the best personal loan offers, your credit score should be over 700. Anyone who has a lower score can still get a personal loan at a higher rate. New age neo banks and app based lenders do offer loans at low score at varying rate of interest & repayment terms from that of traditional banks & NBFCs.
A credit score range for CIBIL as well as Experian range from 300 to 900. Equifax Score will range from 300 to 850.