How to check credit score?
Several agencies in India issue a credit score, and one such body authorised by the Reserve Bank of India to issue credit scores and ratings is the Credit Information Bureau (India) Limited.
If you’re planning to apply for a personal loan, it’s important to check your credit score beforehand to understand your creditworthiness.
What is CIBIL Credit Score?
A CIBIL credit score is a three-digit number that reflects your creditworthiness, calculated based on your credit history. Lenders use it to assess your eligibility for loans and credit cards. You can easily check your score through online platforms by how to check credit score online. CIBIL score checking helps you stay informed and take necessary actions to maintain a healthy credit profile for better financial opportunities.
Why do lenders check your CIBIL Score before approving your personal loan?
Lenders check your CIBIL score to assess your creditworthiness and the likelihood of timely loan repayments. A higher CIBIL score indicates a reliable borrower, while a lower score may signal potential risks. To stay informed about your credit status, you can easily how to check credit score online. Regularly performing a CIBIL score check online helps you maintain a good credit profile and improve your chances of loan approval.
You can check your CIBIL score for free on our website in just three simple steps without impacting your credit score:
- Share some basic information about yourself
- Verify your identity by confirming the OTP sent to your mobile number and email ID
- Check your CIBIL score and report
You can also check your CIBIL score online by logging onto www.cibil.com and receive your credit report. After the request is submitted, you would have to provide the required identification and address proof documents. You can also know your score offline by visiting the bureau or applying for a credit report by post. While applying through the post, you may have to furnish your documents. Once these are verified and authenticated, your credit report is sent to you by mail.
How is CIBIL Score calculated?
Your CIBIL score is calculated based on factors like your credit history, loan repayment behaviour, credit usage, and the types of credit accounts you have. Lenders use this score to gauge your financial reliability. To know my CIBIL score, you can check it online and monitor your credit standing regularly. Doing a CIBIL score check online helps in maintaining a healthy credit profile.
Steps to get your free CIBIL score
- Visit the official CIBIL website or partner platforms.
- Register with your details like name, email, and PAN number.
- Complete identity verification (e.g., OTP on mobile).
- View and download your free CIBIL score report.
- Track your credit score and ensure there are no discrepancies.
By following these steps, you can easily access your CIBIL score at no cost.
Frequently asked questions
You can check your credit score for free by visiting official websites like CIBIL, where you can access your score once a year without any charges, or through partner platforms offering free credit reports.
A good credit score of 685 or above is required. A score in this range shows that you are a reliable borrower, improving your chances of loan approval and securing favourable interest rates.
To see your credit score, you can visit trusted platforms like CIBIL and complete the necessary registration and verification steps. You can access your score instantly and monitor it regularly for any changes.
