Your CIBIL score plays a major role in determining your loan eligibility and interest rates. Let's explore what it means, how it's calculated, and how to improve it effectively.
To maintain a healthy score, always make timely payments, avoid unnecessary loans, and review your credit report every few months to correct any errors. Small financial habits create long-term credit stability.
A good CIBIL score in India ranges from 700 to 900. The higher your score, the better your chances of getting loans or credit cards approved quickly.
You can check your CIBIL score for free once a year from the official CIBIL website or through trusted bank portals like HDFC, SBI, and ICICI Bank.
No, checking your own CIBIL score is a 'soft inquiry' and does not impact your score. However, lender checks during loan applications are 'hard inquiries' and can lower it slightly.
To quickly improve your score, pay all EMIs and credit card bills on time, reduce outstanding balances, and maintain a credit utilization below 30%.
Yes. Paying EMIs on loans like education or personal loans on time helps build credit history even without a credit card.
It typically takes 6–12 months of consistent on-time payments and responsible credit use to see a noticeable improvement in your CIBIL score.