Everything you should know about Cibil score and how to check it online!

A CIBIL score is a representation of an individual’s credit score. In today’s day and age, borrowing a credit is not a new norm. On the contrary, it is an easier thing to do, and it rather helps achieve financial dreams. Hence, it becomes necessary for people to have a CIBIL score. In order to build a CIBIL score, you need to borrow some funds. However, if you are not someone who is borrowing the funds for the first time, you may know your CIBIL score. A CIBIL score is a 3-digit representation of your credit history based on how well you have repaid the loan. A good credit score range lies above 750 points out of 900.

Here is how you can check the CIBIL score:

  1. In order to check CIBIL score, the first thing you need to do is log on to a website that provides a free check of CIBIL score.
  2. You can check CIBIL score by following the step after logging on to a website. You need to update your profile details and upload your PAN on the website. Once you upload the PAN details on your profile, you will be one step closer to check CIBIL score.
  3. You need to click on view CIBIL score, and then you will be shown a digit ranging between 300 and 900, representing your CIBIL score.

Once you check CIBIL score, you can assess your credit worthiness. This will help you determine how easily you can avail of loans for yourself. You can also improve your credit score by repaying the loans that you have borrowed back on time.

How can you maintain a good CIBIL score?

Since the CIBIL score is a representation of your borrowing habits and behaviour tracking, it becomes imperative to understand that your behaviour with finances affects the score. Therefore, in order to maintain a good CIBIL score, you need to do the following:

  • Always paying your dues in time will help you to prevent the building of any negative image around yourself.
  • Applying for credit in moderation will go a long way for you, as it will indicate that you can manage your finances well. Along with this, keeping your outstanding balances as low as possible will help you as well.
  • You need to strike a balance between the mix of secured loan and the unsecured loans that you borrow, as having too much of unsecured loan may not bode well with the lenders.
  • Check CIBIL scores after scheduled intervals to keep track of it as well as to avoid unpleasant surprises. It will give you an idea of how you need to deal with your finances as well as provide you with an opportunity to improve if your credit scores are poor.

To be on top of your financial health will help you determine your credit needs and will assist you in making better choices with handling your finances. In addition, building a credit history will help you be ahead of the curve when it comes to getting credit in the future.

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