Check CIBIL Score for free

Get your latest credit score in few minutes without impact on your score.
Check CIBIL Score for free
3 mins read
09-Jan-2025

A CIBIL score is a crucial financial metric that reflects your creditworthiness. It's a three-digit number that lenders use to assess your credit history and risk profile. Checking your CIBIL score regularly can help you maintain a healthy credit profile and make informed financial decisions. You are eligible for one free credit report per year from CIBIL. Read on to know more about your CIBIL Score and how to check your free CIBIL Score and more.

What is credit score?

A credit score is a numerical representation of an individual's creditworthiness, reflecting their ability to manage debt responsibly.

It's calculated based on information from a credit report, which includes factors like payment history, credit utilisation, types of credit used, length of credit history, and recent credit inquiries. A higher credit score indicates a lower risk to lenders, often leading to better interest rates and loan terms. Maintaining a good credit score is crucial for financial health, as it can impact various aspects of life, including loan approvals, rental applications, and even employment opportunities.

How does credit score works?

1. Personalised offers

Get exclusive pre-approved offers on loans, credit cards, and more based on your credit score.

2. Better negotiating power with lenders

With a high CIBIL Score you have an edge over other borrowers and can negotiate for a better interest rate or a lesser processing fee.

3. Lower interest rates

If you have a high credit score, lenders will provide you with a comparatively lower rate of interest for availing loans or credit cards.

4. Easier loan approval

A high credit score indicates that you are a safe borrower. Lenders are more likely to approve your loan quickly.

5. Higher loan amounts

High loan amounts translate to increased risk for lenders. Hence, they prefer lending to borrowers who have a high CIBIL Score.

6. Longer loan tenures

Borrowers with a good CIBIL Score can benefit from loans with long tenures. This translates to smaller EMIs and reduces their monthly expense burden.

What is a CIBIL Score and what does it mean?

Your CIBIL Score serves as a measure of your creditworthiness, assessing your capacity to repay borrowed amounts. It ranges from 300 to 900 and is provided by the company TransUnion CIBIL. Aim for a high score as a higher score makes you a more reliable applicant when applying for loans or credit cards. Conversely, a low score suggests a history of not making timely payments. Work on improving your CIBIL Score as a low score makes you appear less responsible as a loan applicant.

Here's a table presenting the CreditVision (CV) score ranges provided by CIBIL:

CreditVision (CV) Score Range

Description

Meaning

300-680

Subprime

This represents the lowest CIBIL Score range. A score in this range indicates a history of delayed credit card bill payments or loan EMIs. Individuals in this range are at a high risk of becoming defaulters.

681-730

Near Prime

This CIBIL Score range suggests struggles in meeting payment deadlines. While not as critical as the lower range, it still reflects a challenge in timely repayment.

731-770

Prime

A CIBIL Score within this range indicates good credit behaviour, increasing the likelihood of credit card or loan approval. However, obtaining the most favourable interest rates might still be a challenge.

771-790

Prime Plus

CIBIL Scores above 771 are considered great, showcasing consistent and timely payment history. Individuals in this range are at the lowest risk of default.

791-900

Super Prime

CIBIL Scores above 791 are considered excellent. A score in this range makes it easier to secure loans with lower interest rates. Lenders are more likely to approve loan applications from individuals with such high credit scores.


How to check CIBIL Score for free?

To check your CIBIL score for free, you can follow these simple steps:

 

  1. Visit the CIBIL website: Go to the official CIBIL website.
  2. Register or log in: Create a new account or log in to your existing account.
  3. Fill out the form: Fill out the form with your details like name, email ID, ID, DOB etc and submit.
  4. Get your free credit report: Once verified, you will get your free annual credit report on your registered email ID.

What is a good CIBIL Score?

A CIBIL score of 760 or above is generally considered a good credit score by most lenders. Achieving and maintaining a score within this range, ideally closer to 900, significantly enhances loan and credit card approval prospects. It is crucial to monitor credit scores from multiple bureaus as they can vary. Regular credit score checks, at least monthly, are recommended.

Benefits of a good CIBIL Score

A strong credit score is a key factor in loan and credit card applications. It positively influences lender perception of creditworthiness and repayment capacity.

Benefits include:

  • Increased loan approval likelihood
  • Lower interest rates on loans
  • Faster and easier loan and credit card approvals
  • Access to pre-approved loan offers
  • Higher credit card limits
  • Reduced processing fees and other charges

While a significant factor, credit score is not the sole determinant. Lenders also assess income, repayment capacity, debt-to-income ratio, employment history, and profession.

How a CIBIL Score is calculated?

Credit bureaus calculate CIBIL scores based on various factors reflecting past credit behaviour. These factors are reported by banks and NBFCs with each credit application.

5 factors that affect your CIBIL Score

  • Loan repayment history: Timely loan and credit card payments significantly impact the score. Defaults and late payments negatively affect it.
  • Duration of credit history: A longer credit history with consistent, timely payments demonstrates responsible credit behaviour.
  • Number of hard inquiries: Frequent credit applications result in multiple hard inquiries, which can negatively impact the score.
  • Credit utilisation: Maintaining a credit utilisation ratio (credit used vs. credit limit) below 30% is generally recommended.
  • Credit mix: A diverse credit portfolio (e.g., home loan, personal loan, credit card) demonstrates responsible credit management.

Reasons for a low CIBIL Score

Factors contributing to a low credit score include:

  • Missed or late loan and credit card payments
  • High credit utilisation ratios (e.g., consistently maxing out credit limits)
  • Errors in the credit report
  • Excessive hard inquiries
  • Closing oldest credit accounts prematurely
  • Settling accounts instead of full repayment

How to improve CIBIL Score?

Strategies for improving a low credit score include:

  • Consistent and timely payment of all credit obligations
  • Reducing credit utilisation
  • Correcting errors in the credit report
  • Limiting new credit applications
  • Maintaining older credit accounts
  • Diversifying credit portfolio
  • Seeking professional credit advisory services.

What information CIBIL Scores do not consider?

CIBIL scores primarily assess credit history. They generally do not consider factors like:

  • Income: Your salary or earning potential is not directly factored in.
  • Savings: The amount of money you have in savings accounts is not considered.
  • Employment status: While past employment history can indirectly impact credit history, current employment status itself is not a direct factor.
  • Education: Your educational background is not directly assessed in the scoring model.
  • Lifestyle: Your personal habits or lifestyle choices are not considered in the scoring calculation.

Why there are different CIBIL Scores?

Multiple CIBIL scores may exist for an individual due to variations in the scoring models used by different lenders and credit bureaus. These variations can arise from:

  • Different scoring models: Lenders and credit bureaus may utilize different scoring models to assess credit risk, leading to variations in scores.
  • Data sources: The specific data used for scoring may differ slightly between models, impacting the final score.
  • Focus on specific credit types: Some scores may focus more heavily on specific types of credit, such as mortgage loans or auto loans.

What to do if you do not have a CIBIL Score

If you have limited or no credit history, you may not have a CIBIL score. To establish credit:

  • Obtain secured credit: Apply for a secured credit card, requiring a security deposit.
  • Become an authorised user: Ask a family member or friend with good credit to add you as an authorized user on their credit card account.
  • Obtain a small loan: Apply for a small personal loan from a credit union or online lender.
  • Use credit reporting services: Utilize credit reporting services like CIBIL to monitor your credit history and identify any discrepancies.

Why your CIBIL Score changed?

Several factors can cause your CIBIL score to change:

  • Late payments: Missed or delayed payments on loans or credit cards significantly impact your score.
  • High credit utilisation: Maintaining high credit card balances relative to your credit limits can negatively affect your score.
  • New credit applications: Multiple credit inquiries within a short period can slightly lower your score.
  • Account age: Closing older credit accounts can shorten your average credit age, potentially impacting your score.
  • Public records: Negative public records like bankruptcies or judgments can significantly lower your score.

Monitor your credit report and score

Regularly monitoring your credit report and score is crucial:

  • Identify errors: It helps you identify and dispute any inaccuracies in your credit report.
  • Detect fraud: Early detection of fraudulent activity can help minimise potential damage.
  • Track creditworthiness: Monitoring your score helps you understand your creditworthiness and make informed financial decisions.
  • Improve your score: By identifying areas for improvement, you can take steps to enhance your creditworthiness.

How CIBIL score impacts loan and credit card eligibility?

Your CIBIL score significantly influences your eligibility for loans and credit cards:

  • Loan approval: A higher score increases your chances of loan approval and can qualify you for better interest rates.
  • Credit card limits: A good score can help you obtain credit cards with higher credit limits.
  • Loan amounts: A higher score may allow you to borrow larger loan amounts at favourable terms.
  • Interest rates: Lenders often offer lower interest rates to borrowers with strong credit histories.

What is the difference between CIBIL Score and credit report?

  • CIBIL score: A single number representing your creditworthiness based on information in your credit report. It's a numerical summary of your credit risk.
  • Credit report: A detailed record of your credit history, including:
    • Credit accounts: Information on all your credit accounts (loans, credit cards).
    • Payment history: Records of all your payment transactions.
    • Credit inquiries: A list of companies that have requested your credit report.
    • Public records: Information on bankruptcies, judgments, and other public records.

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Frequently asked questions

What is a good CIBIL Score?

Generally, a CIBIL Score above 700 is considered a good CIBIL Score according to TransUnion CIBIL. With this score, you can qualify for credit offers from different banks and NBFCs. Checking your score regularly has no impact on your score.

What is the minimum CIBIL Score to get any loan?

No bank or NBFC specifies the minimum CIBIL Score required to get a loan. However, most lenders would prefer you to have a CIBIL Score of at least 700 and above. A credit score is a measure of your credit health. A high score reflects good credit health and increases your chances of getting your loan amount approved quickly.

How can you maintain a good CIBIL score?

Here are a few simple tips you can use to maintain a good CIBIL score:

  • Pay your monthly instalments on time to build a good track record
  • Manage your credit card carefully, set payment reminders and limit your usage
  • Choose longer loan tenure carefully, try to make part-prepayments when you can.

How can I improve my CIBIL Score?

Your credit score is based on your credit history. You cannot improve your score instantly. However, actions like timely repayment of loans, proper credit utilisation, checking CIBIL Health Report regularly to ensure that there are no errors can help improve your CIBIL Score over time.

Why is checking your CIBIL Score important?

Your CIBIL Score is a measure of your credit health. Lenders like banks and NBFCs check your credit score before approving you for any credit. Checking your CIBIL Score and report regularly can help you fix any errors and take necessary steps to improve your credit score for easy credit approval.

Will checking your CIBIL report repeatedly hamper your score?

When you check your own CIBIL score, it is considered a “soft inquiry” and does not leave a negative impact on your credit score. However, if a lender or a credit card issuer requests CIBIL to check your credit report (usually when they are considering you for a loan or credit card), it is counted as a “hard inquiry”. Hard inquiries are recorded in the enquiry section of your credit report.
Multiple hard inquiries, if done over a relatively short period of time, demonstrate what is called “credit hungry behaviour” and may hurt your credit score. But a soft inquiry, at least once a year, is considered an important financial habit.

Why do lenders check your CIBIL score before approving your loan?

As you may be aware, your CIBIL score measures your creditworthiness. Your lender chooses to check your score for a several of reasons, including:

  • To check your credit record and history
  • To measure your capacity to repay the loan
  • To review your credit balance and sense the risk level of your profile
  • To identify if you meet the lender’s loan eligibility criteria
  • To arrive at the loan amount and interest rate suitable for you

Therefore, your CIBIL score is an important tool to help you manage your financial health.

Why must you check your Credit Score?

A low credit score becomes an obstacle for borrowers to avail desired loan amounts at a low-interest rate. However, users can purchase their CIBIL report. From your CIBIL report, you can check your CIBIL score whenever you want. For that, you have to follow some steps.
A CIBIL report contains your credit history as given by the financial institutions and banks. Also, you can get access to your CIBIL score and other financial behavior. To avail of your CIBIL report, a user needs to take a subscription. Credit rating agencies facilitate different subscription packages for users. Make a subscription request to the respective agency, and they will send you a mail.
Then, if you want to purchase your CIBIL report, you will have to download the mail from the agency. Then correctly fill the information in the form that came attached in the mail. You have to provide your basic KYC documents and a demand draft of the requested amount along with your form.
Users can visit their CIBIL report for any purpose they want, like checking their CIBIL score, financial status, etc. However, once the subscription period ends, the user won’t have access to this report and will need to renew their subscription.

Explain the difference between a Credit Score, Credit Rating, and a Credit Report?

Credit score, credit rating and credit report are often interchangeably used. However, they each have a different meaning.
A credit report outlines a detailed list of all the credit lines and payments done by the user. It will involve the following information:

  • Personal data of the user
  • A detailed list of closed and open loan accounts involving dept amounts of credit card
  • Credit inquiry by user
  • A public record of foreclosures, bankruptcies, judgment on civil suits, etc. Every credit report will contain a credit score.

A credit score is a three-digit number ranging from 300 to 900 and is contained in a credit report. A credit score is important because it proves a borrower's creditworthiness to all kinds of lenders. The score will go up and down depending on users' financial activities.

Credit rating is a quantified inspection of the creditworthiness of an applicant is referred to as credit rating. Any entity seeking to borrow a loan is liable to credit rating inspections, whether a person, a firm, a sovereign government, or state provincial authorities.

What do you mean by CIBIL Score?

CIBIL Score is a three-digit number that represents an individual's creditworthiness. It is calculated based on their credit history, including repayment behavior on loans and credit cards.

Which is best to check CIBIL Score?

The best way to check your CIBIL Score is through the official CIBIL website or through authorized partners like credit bureaus.

How is a 700 CIBIL Score?

A 700 CIBIL Score is considered good. It indicates a strong credit history and a low risk to lenders.

How to Check CIBIL Score for Free?

You can check your CIBIL Score for free through the official CIBIL website or through authorized partners who offer free score checks.

Is CIBIL Score of 750 Considered Good?

Yes, a CIBIL Score of 750 is considered excellent. It signifies a very strong credit history and increases your chances of loan approvals.

What is the Minimum CIBIL Score to Get Personal Loan?

The minimum CIBIL Score required for a personal loan varies depending on the lender and the loan amount. Generally, a score above 700 is preferred.

Can Anyone Check my CIBIL Score?

No, only authorized entities like lenders, financial institutions, and with your consent, credit bureaus can access your CIBIL Score.

How to Download CIBIL Report?

You can download your CIBIL Report from the official CIBIL website or through authorized partners by paying a nominal fee.

Why does my CIBIL Score Keep Changing?

Your CIBIL Score can change due to factors like late payments, new credit inquiries, credit utilization ratio, and changes in your credit history.

How can i check my CIBIL Score for free?

You can check your CIBIL Score for free through the official CIBIL website or through authorized partners who offer free score checks.

On what factors is CIBIL Score calculated?

CIBIL Score is calculated based on factors such as payment history, credit utilization, credit history length, credit mix, and new credit inquiries.

How to check CIBIL Score?

You can check your CIBIL Score through the official CIBIL website, authorized partners, or by obtaining a CIBIL Report.

Is 786 a good CIBIL Score?

Yes, 786 is an excellent CIBIL Score. It indicates a strong credit history and high creditworthiness.

Is it best to pay off credit card bills in full?

Yes, it is always best to pay off your credit card bills in full and on time to maintain a good CIBIL Score.

What happens if i pay more than my credit card balance?

If you pay more than your credit card balance, the excess amount will be credited to your account as a prepayment or can be used to reduce future bills.

Can everyone access my CIBIL Score?

No, only authorized entities like lenders, financial institutions, and with your consent, credit bureaus can access your CIBIL Score.

Does CIBIL score affect my chances of getting a new loan or credit card?

Yes, your CIBIL Score significantly impacts your chances of getting a new loan or credit card. A higher score increases your approval odds and may also result in lower interest rates.

What is the minimum CIBIL score required for any type of loan?

The minimum CIBIL Score required for any type of loan varies depending on the lender and the loan type. Generally, a score above 700 is preferred.

What is the minimum CIBIL Score to get personal loans?

The minimum CIBIL Score required for personal loans generally ranges from 700 to 750, but it can vary depending on the lender and the loan amount.

What happens if my CIBIL report has errors?

If you find errors in your CIBIL Report, you can dispute them through the official CIBIL website or by contacting the credit bureau directly.

Can CIBIL delete or change my credit information on its own?

No, CIBIL cannot delete or change your credit information on its own. You need to initiate a dispute process if you believe there are errors in your report.

Why is PAN card required for checking the CIBIL Score?

PAN card is required for checking your CIBIL Score for identification and verification purposes.

Why do we need a phone number for CIBIL Score?

Your phone number is required for communication and verification purposes when checking your CIBIL Score.

Is there a limit to request for accessing CIBIL Score?

There is no strict limit, but excessive inquiries within a short period can negatively impact your CIBIL Score.

What’s the CIBIL Score required for application of a credit card?

The CIBIL Score required for a credit card application generally ranges from 700 to 750, but it can vary depending on the card issuer and the type of card.

How to check CIBIL Score with Aadhaar card?

You can check your CIBIL Score with your Aadhaar card through authorized partners who may offer this option.

Does checking CIBIL Score affect CIBIL Score?

No, checking your CIBIL Score does not directly affect your CIBIL Score. However, multiple hard inquiries within a short period can slightly impact your score.

How to check CIBIL Score in India?

You can check your CIBIL Score in India through the official CIBIL website, authorized partners, or by obtaining a CIBIL Report.

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