768 CIBIL Score - Is it good or bad?
A 768 CIBIL Score is considered very good. It reflects a strong credit history and responsible financial management. With this score, you are more likely to receive approvals for loans and credit cards at favourable terms. While it is just below the excellent range, a 768 score indicates a low credit risk, enhancing your chances of getting the best offers from lenders.
How to improve your 768 CIBIL Score?
To improve a 768 CIBIL score, continue paying your loans and credit card bills on time. Maintain a low credit utilisation ratio, ideally below 30% of your available credit limit. Avoid applying for new loans or credit cards frequently, as this could negatively impact your score. Regularly monitor your credit report for accuracy and address any discrepancies immediately.
How does a 768 CIBIL Score impact interest rates?
A 768 CIBIL score allows you to qualify for highly competitive interest rates. Lenders view you as a low-risk borrower, which increases your chances of receiving favourable loan terms. This score gives you access to better interest rates compared to those with lower scores, although the absolute lowest rates may still be reserved for those in the excellent range.
