840 Credit Score – Is It Good or Bad?

An 840 credit score is regarded as excellent in India. Positioned close to the maximum score of 900, it highlights strong financial discipline and outstanding credit habits.

 

This score reflects regular repayments, minimal credit usage, and reliable borrowing behaviour. With such a score, lenders consider you highly dependable, granting you easier access to credit at better terms.

Every credit bureau in India uses a different scoring model. Yet, the typical range falls between 300 and 900. Here’s how an 840 score is seen:

A score of 840 puts you in a favourable position with lenders, improving your chances of approval and better terms.

In India, a credit score above 750 is considered healthy. However, crossing 800 and especially reaching 840 places you in a premium category.

 

Lenders view you as a reliable borrower, offering you access to faster approvals, lower interest rates, and premium credit products. An 840 score simplifies your borrowing journey.

 

Simply put, this score helps unlock some of the best financial deals available in the market.

With an excellent score of 840, you gain access to a wide selection of credit options. On Bajaj Markets, you can get products with favourable terms and exclusive benefits.

Home Loans at Attractive Rates

Home loans become more accessible, with interest rates starting from 8.25% p.a. You can borrow up to ₹15 Crores, with tenures of up to 32 years.

Pre-approved Personal Loans

Pre-approved personal loans come with minimal paperwork. Rates start at 9.99% p.a., and you can borrow up to ₹50 Lakhs, with flexible tenures of up to 8 years.

Two-wheeler Loans with Flexible Repayment

Bike loans may cover up to 100% of the on-road price. Interest rates can start as low as 0.99% p.a., with repayment periods up to 5 years.

Business Loans for Entrepreneurs

Borrow up to ₹50 Lakhs for your business needs. Interest rates begin at 14.00% p.a., with quick processing and simple documentation.

Professional Loans for Specialists

Doctors, CAs, and other professionals can access professional loans up to ₹50 Lakhs, with interest rates starting from 12.00% p.a. Tenures can extend to 8 years.

Premium Credit Cards

With an 840 score, you qualify for premium credit cards offering perks like cashback, airport lounge access, and attractive rewards.

To maintain this excellent score, you need to continue following healthy financial practices consistently.

Always Pay on Time

Ensure you clear your EMIs and card dues by the due date. Timely payments are essential for a good credit score.

Keep Credit Utilisation Low

Limit your credit usage to below 30% of your total available limit to maintain score stability.

Avoid Frequent Credit Applications

Submitting multiple applications within a short time may lower your score. Apply for credit only when necessary.

Regularly Review Your Credit Report

Monitor your credit report to identify errors or unusual activity and raise disputes promptly if needed.

Maintain a Healthy Mix of Credit

Using both secured and unsecured credit responsibly shows lenders you manage your finances well.

Reaching the top score requires consistent effort and mindful financial habits. You can consider the following pointers:

Use Less Credit

Lower credit utilisation supports further improvement in your score.

Keep Long-standing Accounts Open

Older accounts add depth to your credit history, improving your overall score.

Avoid Closing Old Credit Lines

Keeping older cards or accounts active boosts your credit age and profile strength.

Check Your Credit Report Frequently

Frequent checks help you catch and correct inaccuracies before they impact your score.

Limit New Credit Applications

Avoid multiple new applications, as too many can bring your score down.

If your credit score falls, take these steps to recover it quickly and maintain lender’s trust.

Review Your Credit Report

Carefully check your report for mistakes or unauthorised activity and get them fixed.

Clear Pending Payments Quickly

Settle any outstanding dues without delay to avoid further score reduction.

Postpone New Borrowings

Hold off on applying for new loans or cards until your score improves.

Use Payment Reminders

Set alerts to help you pay on time, every time.

Keep Old Accounts Active

Older accounts add to your credit history and support your score recovery.

 

By acting swiftly and maintaining good credit practices, you can restore your excellent score.

An 840 credit score in India is a remarkable achievement. It opens the door to premium loan products, lower interest rates, and high-limit credit cards.

 

With steady financial discipline, you can enjoy these benefits while aiming even higher towards a perfect score. Maintaining healthy habits ensures long-term access to the best financial opportunities.