Know your credit score in just a few clicks
Your CIBIL score is a three-digit number that ranges between 300 and 900 and summarises your credit history. Banks and NBFCs use it to determine your creditworthiness while lending.
To check your CIBIL score for a personal loan, visit a trusted financial website, and enter basic details like your PAN card number. Your score helps assess your eligibility and interest rates for a personal loan. Maintaining a high score improves loan approval chances. Check your score now and apply for a personal loan with ease.
Steps to check CIBIL score for personal loan
To get quick approval on your personal loan, start by checking your CIBIL score for a personal loan online for free in just four simple steps:
- Enter your basic details
- Verify your identity using the OTP sent to your registered mobile number
- Instantly view your CIBIL score range
Knowing your CIBIL score helps you assess your loan eligibility and improves your chances of approval.
To get quick approval on your personal loan, firstly check your CIBIL score online for free in four simple steps:
- Share your basic information
- Verify your profile by entering the OTP sent to your mobile number
- See your CIBIL score range in an instant
Why is it important to check your CIBIL score
Your CIBIL score plays a crucial role in determining your eligibility for a personal loan. Lenders use this three-digit score to assess your creditworthiness before approving a loan application. A higher score increases your chances of securing loans with better interest rates and repayment terms.
Regularly checking your CIBIL score for a personal loan helps you:
- Understand your credit health and improve it if needed
- Identify and rectify errors in your credit report
- Plan your finances effectively before applying for a loan
Being aware of your score ensures a smoother loan approval process and enables you to make informed financial decisions.
Common errors to avoid when checking your CIBIL score
Checking your CIBIL score for a personal loan is a crucial step in securing the best loan options. However, certain mistakes can lead to inaccurate results or even impact your loan eligibility. Here are some key errors to avoid:
- Entering incorrect details – Ensure your PAN card number, mobile number, and other personal information are accurate to get an error-free credit report.
- Ignoring your credit report – Simply checking your score isn’t enough. Reviewing your full credit report helps detect errors or fraudulent activities that could affect your creditworthiness.
- Frequent hard enquiries – While checking your score doesn’t lower it, applying for multiple loans in a short time can, as lenders make hard enquiries on your profile.
- Neglecting old loan accounts – Unresolved dues or inactive accounts with pending balances can bring down your score without you realising it.
By staying mindful of these mistakes, you can maintain a healthy credit score and improve your chances of getting a personal loan with favourable terms.
Read More: Importance of CIBIL Score For A Personal Loan
How does one check a credit score
Checking your credit score is a simple process that helps you understand your financial health before applying for a personal loan. Follow these steps to check your CIBIL score for a personal loan online:
- Visit a trusted financial website – Choose a reliable credit bureau or lender’s website.
- Enter your details – Provide essential information such as your PAN card number, date of birth, and contact details.
- Verify your identity – Authenticate your profile by entering the OTP sent to your registered mobile number.
- View your credit score – Instantly access your CIBIL score along with a detailed credit report.
Regularly monitoring your credit score helps you stay financially prepared and improves your chances of securing a personal loan with better terms.
How to increase CIBIL score
A high CIBIL score improves your chances of securing a personal loan with better interest rates and repayment terms. If your score is low, here are some effective ways to improve it:
- Pay your EMIs and credit card bills on time – Consistent, timely payments have a significant impact on your credit score.
- Maintain a low credit utilisation ratio – Keep your credit card usage below 30% of the available limit to demonstrate responsible credit behaviour.
- Avoid multiple loan applications – Too many loan enquiries in a short span can lower your score, as lenders perceive it as credit-hungry behaviour.
- Monitor your credit report regularly – Checking your report helps identify and rectify errors that may be affecting your score.
- Maintain a healthy credit mix – A balanced combination of secured and unsecured loans reflects good credit management.
By following these steps, you can gradually improve your CIBIL score for a personal loan, increasing your chances of loan approval with favourable terms.
Frequently asked questions
A CIBIL score of 685 or above is generally considered good for a personal loan. It improves your chances of loan approval with better interest rates and repayment terms.
Yes, some lenders may offer a personal loan on a 650 CIBIL score, but the interest rates may be higher, and the loan amount may be limited. A higher score increases approval chances.
A CIBIL score of 700 is considered decent for a personal loan. While you may qualify for a loan, having a score above 750 can help you secure better terms and lower interest rates.
To improve your CIBIL score, pay your EMIs on time, reduce credit card usage, avoid multiple loan applications, and monitor your credit report regularly. Maintaining a good credit mix also helps in boosting your score.
Yes, you can still get a loan, but lenders may offer a lower amount or charge higher interest rates. To explore loan options for this score, check out personal loan for CIBIL score of 550 to 600.
