806 CIBIL Score

806 CIBIL Score - Simple tips to improve and secure better financial options.
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806 CIBIL Score
CHECK SCORE
3 mins read
10-Jan-2025

806 CIBIL Score - Is it good or bad?

A CIBIL score of 806 is considered exceptional in India, well above the 750 benchmark for excellent credit. This score signals outstanding creditworthiness and financial discipline, which makes you a highly attractive borrower to lenders. With an 806 score, you are seen as very low-risk, granting easy access to loans, credit cards, and other financial products with highly competitive terms.

How to improve your 806 CIBIL Score?

With an 806 CIBIL score, you’re already in an excellent position, but maintaining it is essential. Continue paying all bills punctually, keep credit utilisation low, and avoid frequent credit applications. Regularly monitor your credit report for any inaccuracies to ensure your score remains high. These practices help uphold your credit standing, ensuring access to top-tier financial products.

How does a 806 CIBIL Score impact interest rates?

An 806 CIBIL score allows you to secure lower interest rates on loans. Lenders view such a high score as a marker of reliability and low risk, often resulting in reduced interest rates and better borrowing terms. This score helps minimise borrowing costs, as banks compete to provide you with favourable loan offers, recognising your strong financial standing.

Frequently asked questions

Is 806 CIBIL score good?
Yes, an 806 CIBIL score is excellent, indicating a high level of creditworthiness. It enhances eligibility for loans and premium credit cards with favourable terms in India.

Is 806 credit score bad?
No, an 806 credit score is not bad at all. It’s an exceptional score, showing responsible credit management and improving access to attractive financial offers.

Can I get a 806 credit card with?
Yes, with an 806 CIBIL score, you’re highly likely to be approved for credit cards. This score qualifies you for premium cards with exclusive benefits due to your excellent creditworthiness.

Is 806 credit score needed for a loan?

No, an 806 credit score is not strictly "needed" for a loan. However, it significantly increases your chances of loan approval and secures you more favourable terms, such as lower interest rates and higher loan amounts.

How much can you finance with a 806 credit score?

The amount you can finance with an 806 credit score varies depending on factors like income, debt-to-income ratio, and the lender's specific criteria. Generally, an excellent credit score like 806 opens doors to higher loan amounts and more competitive financing options.

What is the lowest CIBIL score for a personal loan?

The lowest CIBIL score for a personal loan varies between lenders. While some may consider scores as low as 600, most prefer scores above 750 for better loan terms.

How to increase credit score from 806?

While an 806 credit score is already excellent, you can maintain or slightly improve it by consistently making on-time payments, keeping credit utilisation low, and diversifying your credit mix.

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