CIBIL Score of 732: Is It Good or Bad?

A CIBIL score and credit score are not the same, although both are similar three-digit numbers that reflect your creditworthiness. A CIBIL score is a specific type of credit score provided by TransUnion CIBIL (formerly Credit Information Bureau India Limited), one of India’s leading credit bureaus.

In contrast, a credit score is a broader term referring to the rating issued by any authorised credit bureau. In India, credit scores are generated by multiple institutions, each using its own scoring methodology. The major credit bureaus include:

• TransUnion CIBIL

• Equifax

• Experian

• CRIF High Mark

A CIBIL score of 732 is generally considered good. It reflects a positive credit history and suggests that you are a low-risk borrower. With this score, you are likely to qualify for faster loan approvals, competitive interest rates, and access to a broader range of credit products. 

Consistently making timely repayments and managing your credit responsibly can help you maintain or improve this score further.

In India, credit scores are primarily managed by bureaus such as TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. Here is how a score of 732 is generally perceived across these major bureaus:

This score implies that you are a dependable borrower. However, lenders may still consider additional factors such as income, employment stability, and debt-to-income ratio when evaluating your loan or credit card applications.

With a CIBIL score of 732, you can access a variety of credit products. Lenders generally view scores above 700 as low-risk, which improves your chances of approval and may result in more favourable terms.

• Personal Loans Available for a Credit Score of 732

Lenders usually offer competitive interest rates and flexible repayment tenures to individuals with a credit score of 732. You can apply for a personal loan on Bajaj Markets, based on your income and repayment capacity.

• Credit Card Options with a Credit Score of 732

With a score of 732, you may be eligible for a wide range of credit cards, including premium options. These may include cashback cards, rewards cards, fuel cards, and travel cards.

• Home Loans Available for a CIBIL Score of 732

A 732 CIBIL score is considered good and can help you qualify for home loans with better rates and extended repayment terms. Lenders on Bajaj Markets offer home loan solutions for a range of financial needs.

• Business Loans Available for a CIBIL Score of 732

You may qualify for unsecured business loans at Bajaj Markets with a CIBIL score of 732. Eligibility depends on your credit history and business profile.

• Vehicle Loans Available for a CIBIL Score of 732

A score of 732 can lead to faster processing and competitive interest rates. On Bajaj Markets, you can explore options such as two-wheeler loans and new car loans. 

Disclaimer: Credit approval is subject to the lender’s internal policies, eligibility criteria, and documentation.

A CIBIL score of 732 may make you eligible for pre-approved loan and credit card offers. However, eligibility criteria differ across financial institutions. To strengthen your score further, ensure timely repayment of EMIs and credit card dues, maintain a balanced credit portfolio, and avoid submitting multiple loan applications.

Regularly reviewing your credit report can also help detect and correct any discrepancies.

A CIBIL score of 732 is good, but lenders may still reject your loan due to the following factors:

• Excessive Loans: Multiple active loans or frequent credit enquiries can indicate dependency on credit and reduce approval chances

• High Debt-to-Income Ratio: If a large share of your income goes towards debt, lenders may find you financially overburdened

• Unhealthy Credit Mix: Relying heavily on unsecured loans without a balanced credit profile increases your risk perception

• Loan Rejections in the Past: Previous loan rejections on your report may cause lenders to question your creditworthiness

• Discrepancies in Credentials: Any mismatch in your personal or financial details can delay or result in outright rejection

A CIBIL score of 732 indicates a healthy credit profile, but reviewing your report on the Bajaj Markets app can provide valuable insights for continued improvement.

1. Score History

View a six-month graph showing how your credit score has evolved. If you are new to the app, only the current score may be available initially.

1. Credit Factors Analysis

This section identifies strengths and weaknesses:

• Repayment History: Indicates the percentage of timely payments.

• Card Usage: Highlights low utilisation as a positive sign.

• Credit History Length: Shows how long your credit accounts have been active.

• Credit Type Balance: Reflects whether you have a good mix of secured and unsecured credit.

• Enquiry Frequency: Flags too many recent credit applications.

1. Loan Account Details

Displays your active loans, including:

• Lending institution and type of loan

• Approved and outstanding balances

• EMI status and payment history

• Last payment made

Performance indicators use colour codes: green (on time), yellow (delayed), and red (defaulted).

1. Credit Card Details

This section covers:

• Credit limit and current usage

• Card activation date

This helps you avoid high utilisation that could negatively impact your score. 

If you have a credit score of 732, here are the potential advantages:

• Low Interest Rates

A good credit score, like 732, positions you for lower interest rates on loans such as personal loans, car loans, or home loans.

• Loan Approvals

Borrowers with good credit scores are more likely to get approved for loans, even for higher amounts.

• Basic to Mid-range Credit Cards

A score of 732 can make you eligible for credit cards offering attractive benefits, including cashback, rewards, and travel perks.

• Improved Financial Reputation

A score of 732 indicates sound financial behaviour, improving your credibility among financial institutions.

• Low Insurance Premiums

Insurance providers often associate good credit scores with lower risk, potentially leading to reduced premiums.

• Easy Emergency Funding

A good credit score ensures easier access to personal loans or lines of credit during emergencies.

• Easier Negotiations with Lender

You may have the leverage to negotiate better terms, such as waivers on fees or reductions in interest rates.

While a credit score of 732 is commendable, consistent effort can further boost it and safeguard your financial future. 

• Timely Payments

Ensure you pay all credit card bills and loan EMIs on time. Late payments can negatively impact your score.

• Low Credit Utilisation 

Aim to use less than 30% of your available credit limit. For example, if your credit limit is ₹10 Lakhs, keep the usage below ₹3 Lakhs. 

• Limited Hard Inquiries

Applying for multiple loans or credit cards in a short period can lead to hard inquiries, lowering your score temporarily.

• Regular Monitoring of Your Credit Report

Review your credit report for errors or inaccuracies. If you spot any, raise a dispute with the credit bureau to correct them promptly.

• Diversify Your Credit Mix

Maintain a mix of secured and unsecured forms of credit. This demonstrates responsible credit management. 

• Maintain Older Accounts

Older accounts with a good repayment history boost your credit score. Keep them active unless absolutely necessary.

• Seek Financial Advice 

Seeking financial advice from a credit counsellor can help you identify the specific factors affecting your score.