December10 , 2024

Different Methods to Check Your CIBIL Score in India and its Impact

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What best do you remember about CIBIL, and have you cross-checked your CIBIL score recently? Whenever you are going to take a loan or want a credit card, the holding company will demand your CIBIL score. If you score highly, it means that it will fetch some benefits to you. Some people have come to realize that a low CIBIL score is not healthy for financial transactions.

In this blog, we will focus on some of the popular methods you can use to check your CIBIL score in India. After reading the complete write-up, you will learn about all those methods and evaluate things without much help. You can talk to a Loan Agency that can help you get loans even if you have a low CIBIL score.

Why Is CIBIL Score So Important in India?

CIBIL, known as Credit Information Bureau India Limited, is the best credit rating agency in India. They publish credit ratings for both individuals and organizations. Usually, the score can vary from 300 to 900. A higher score is always preferable. If you have made transactions so far with dignity and repaid your loans on time, you must have a good credit score.

Some of the Popular Methods You Can Use to Check Your CIBIL Score

So you can understand the importance of the CIBIL score. The following methods are hugely popular and effective for checking your score.

Go to the Official Website of CIBIL

Now, you can easily go to the CIBIL official website and check your score for free. Remember, you can check your CIBIL score only once a year for free. After that, there is a charge requirement.

Go to the website and click on the Free CIBIL score button. There, you have to fill in your details like date of birth, PAN card, and some other information. Once everything is verified, it will show your CIBIL score.

You Can Take Paid Plans

When you want to check your CIBIL score multiple times, it is necessary to take a paid plan. According to experts, the subscription starts from Rs 550. You must check other plans and take the one you love the most. In fact, it is possible to change your plan as per your need and customize things as per your choice.

Visit Your Bank

The safest option to check your CIBIL score is to visit your bank. Almost all the banks offer free CIBIL checks for their clients. Most popular banks in our country offer this service. Now, you can visit the bank website and go to the Credit score section. There, you will have an option to check the score; it will hardly take a couple of minutes. You can also visit the DSA app India and get some help.

Third-Party Apps Can Also Help

Finally, we have the option to visit a third-party app like Google Pay or Paytm and check the score. All these platforms have the authority to offer credit score checks. Learn about their terms and conditions before using them.

What Are Some Benefits of Having a Good CIBIL Score?

If a person is maintaining a good CIBIL score, he/she will surely have some added benefits-

Loan Approval Will Be Easy

One thing that you will get for having a good CIBIL score is easy loan approval. You can pick any bank of your choice and file your loan application. We are sure that you will get the approval quicker than any other person.

It is Possible to Lower Your Interest Rates

The interest rates on your loan will also vary. People with a CIBIL score over 750 will get loans with lower interest rates. Check several options and then find out the best way for you.

Get a High Credit Limit

Having a high credit limit means you can use a higher amount using your credit card. It is because the bank is trusting you more than another person with a low credit score.

You Will Easily Get the Loan

Whether you are in search of a home loan, personal loan, or any other type of loan, you can take it in the quickest time possible.

Follow These Methods to Improve Your CIBIL Score

  1. Try to repay all kinds of previous debts on time.
  2. Focus on your credit utilization ratio; it will surely help.
  3. Check your credit report once in a while to track things more swiftly.

These are enough to improve your credit score and get you the benefits we have shared.