737 CIBIL Score: Is it Good or Bad

While the terms 'CIBIL Score' and 'Credit Score' are often used interchangeably, they are not exactly the same. There are subtle differences between the two.

Credit Score

A credit score is a general term that represents your creditworthiness. It is a numerical value calculated by credit bureaus based on your credit history and financial behaviour. In India, the four major credit bureaus are:

• TransUnion CIBIL

• CRIF High Mark

• Experian

• Equifax

CIBIL Score

The CIBIL score refers specifically to the credit score provided by TransUnion CIBIL. Due to its widespread use, the term ‘CIBIL’ has become a commonly used name for credit scores in general.

In summary, every CIBIL score is a credit score, but not every credit score is a CIBIL score.

A CIBIL score of 737 is considered good, reflecting responsible credit behaviour. It typically enhances your chances of loan approval with favourable interest rates and terms.

However, lenders assess more than just your credit score. They also evaluate:

• Your income and employment stability

• Your repayment history

• Your debt-to-income ratio

• The number and types of credit accounts you maintain

A strong credit score supports your application, but your overall financial profile plays a crucial role in the final decision.

Falling in the good range in most scoring systems opens up favourable opportunities for loans, credit cards, and other financial products. It is important to understand the financial products you can access with this score to stay prepared for unexpected financial needs. 

You can get several financial products with a CIBIL score of 737. The list below outlines some of the products you can apply for on Bajaj Markets: 

Apply for a Personal Loan with a 737 Credit Score

With a CIBIL score of 737, you are likely to qualify for personal loans at competitive interest rates and favourable repayment terms. Lenders typically consider you a low-risk borrower, which enhances your chances of approval and access to higher loan amounts that may go up to ₹55 Lakhs.

Credit Card Options for Users with a 737 Credit Score

Lenders generally view a CIBIL score of 737 favourably and may offer higher credit limits along with lower interest rates. With this score, you may be eligible to apply for premium, cashback, rewards, or co-branded credit cards. 

However, final approval will depend on your overall financial profile and the specific eligibility criteria set by the card issuer. 

Home Loans Available for a 737 CIBIL Score

A credit score of 737 enhances your eligibility for a range of home and property-related loans, as lenders consider it an indicator of financial reliability. You can explore several options on the platform and get substantial loan amounts, depending on the lender’s assessment of your profile.

Business Loans Available for a 737 CIBIL Score

A credit score of 737 reflects sound credit handling and may support your eligibility for business loans at competitive terms. Depending on your profile and the lender’s eligibility criteria, you may qualify for financing and get favourable loan terms.

Vehicle Loans Available for a 737 CIBIL Score

A credit score of 737 can strengthen your eligibility for vehicle loans at competitive interest rates. Multiple lenders offer two-wheeler loans with loan-to-value ratios of up to 100%.

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

A CIBIL score of 737 indicates responsible credit usage and could qualify you for pre-approved loans and credit card offers from lenders. While a score of 750 or higher may secure better terms, most lenders view scores above 700 as a sign of sound creditworthiness.

These pre-approved offers are typically extended to customers with a strong repayment history and are based on your past credit performance. However, lenders still assess factors like income stability, employment type, and existing obligations before final approval.

Lenders evaluate multiple aspects beyond your credit score before approving a loan. Common reasons for rejection despite a good score include:

• Unstable Income: Frequent job changes or irregular income may raise concerns about repayment capacity

• High Debt-to-Income Ratio: If a large portion of your income goes towards existing EMIs, lenders may see this as financial overextension

• Multiple Applications: Submitting numerous loan or credit card applications in a short period may indicate financial stress

• Errors in Credit Report: Any discrepancies, past defaults, or unresolved disputes in your credit report can negatively impact your application

• Guarantor-Related Issues: Acting as a guarantor for a loan that has defaulted, or applying with a co-applicant with poor credit, may reduce your chances of approval

A CIBIL score of 737 reflects a stable credit profile and responsible repayment habits. While loan approvals are possible at this score, improving it further can help you access lower interest rates. Here is what your credit report may show with a 737 score on the Bajaj Markets app:

1. Score History

This section presents a chart tracking your credit score changes over the past six months. It helps you observe improvements, declines, or irregularities. If you’re a new user, it may only display your current score.

2. Credit Factors Breakdown

This part highlights both strengths and areas for growth:

• Repayment History: Shows on-time versus late payments; a strong percentage of timely payments indicates good credit discipline

• Card Limit Usage: Low usage is considered favourable

• Credit History Length: A longer history positively impacts your score

3. Loan Account Summary

Each ongoing loan includes:

• The lender’s name and the loan category

• Sanctioned amount and outstanding balance

• EMI amount, repayment pattern, and the most recent payment date

4. Credit Card Overview

This section provides details about your total credit limit and the amount you have used, along with the date your credit card was activated. Regularly reviewing this information can help you manage your credit usage more effectively and safeguard your credit score.

To maintain your CIBIL score of 737 or improve it further, disciplined credit habits are essential. Below are some actionable tips:

• Make Timely Payments

Always pay your EMIs, credit card bills, and utility dues on time to maintain a positive repayment history.

• Monitor Credit Utilisation Ratio

Keep your credit utilisation below 30% of your total credit limit to showcase responsible financial behaviour.

• Check Credit Reports Regularly

Review your credit report for errors or discrepancies that might lower your score and get them corrected promptly.

• Limit Hard Inquiries

Avoid frequent applications for loans or credit cards, as too many hard inquiries can temporarily reduce your credit score.

• Pay Down Outstanding Debt

Reducing your existing debt improves your debt-to-income ratio and enhances your overall creditworthiness.

• Maintain Older Credit Accounts

Keeping older accounts active contributes to a longer credit history, positively affecting your credit score.

• Diversify Your Credit Portfolio

A mix of secured (e.g., loans) and unsecured (e.g., credit cards) credit demonstrates versatility in managing financial products.

• Automate Payments

Setting up auto-pay ensures you never miss deadlines, safeguarding your repayment history.