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Understand the meaning of a fair CIBIL score and its role in credit approvals. Explore simple tips to improve it for better financial benefits.
A fair CIBIL score indicates that your credit health is adequate, but there is room for improvement. You may be eligible for loans or credit cards, although the offers or interest rates may not be the most favourable.
By following a few simple steps, you can enhance your CIBIL score and access better loan options and financial benefits in the future.
A fair CIBIL score means it will typically fall between 621 and 700. It indicates that your credit profile is acceptable. However, there is scope for improvement. With this score, you may still qualify for loans. You may not receive the most attractive interest rates or credit terms.
You need to maintain good credit habits, such as making timely payments and keeping credit usage low. These practices can gradually improve your score. A higher score can help you unlock better financial opportunities.
Your CIBIL score is a three-digit number that shows how well you manage credit. Understanding the score range helps you know where you stand and what kind of loan offers you can expect.
CIBIL Score Range |
Category |
Implications on Credit Cards and Loans |
|---|---|---|
NTC |
Not Applicable |
"New to Credit" (NTC) means have not yet taken any loans or credit cards, resulting in no existing credit history. |
300–681 |
Very Low Credit Score |
High chance of denial; if approved, credit limits and amounts will be low. |
681–730 |
Low Credit Score |
Approval is tough; higher rates and low limits common. |
731–770 |
Fair Credit Score |
May get basic cards or loans but with less favorable terms. |
771–790 |
Good Credit Score |
Access to better cards or loans with improved rates and limits. |
791 and Above |
Excellent Credit Score |
Strong approval chances for premium cards or loans with low rates and high limits. |
Note: Credit score ranges and categories may vary between different credit bureaus.
Your CIBIL score is an important indicator of your financial health. By following a few disciplined habits, you can improve your score and enhance your chances of securing better credit deals.
Delaying or missing loan EMIs and credit card payments lowers your credit score. Timely payments build a positive credit history and strengthen your score.
Avoid using a large portion of your available credit limit. Keeping credit utilization below 30% reflects responsible credit behaviour.
Hold a balanced mix of secured loans, such as home or auto loans, and unsecured loans, like personal loans and credit cards. Too many unsecured loans can harm your score.
Check your CIBIL report regularly. Look for any errors or incorrect entries. Correcting them on time helps prevent loan rejections.
Limit the number of credit cards or loans you apply for within a short period. Frequent credit enquiries reduce your score.
Maintaining a good credit score is important for improving your financial credibility. A higher score can help you qualify for loans and credit cards on more favourable terms in the future. With a few simple steps, you can gradually strengthen your score over time.
To monitor your credit health, you can easily check your CIBIL score on Bajaj Markets. It provides a quick, hassle-free way to view your score and access useful tips to improve it.
A CIBIL score is a 3-digit number ranging from 300 to 900 that indicates your credit history and repayment behaviour. Factors influencing it include:
Timely repayments
Credit utilisation ratio
Credit mix
Outstanding debt levels
Your CIBIL score serves as the initial indicator of your creditworthiness to lenders. A high score increases your chances of loan approval with favourable terms. However, a low score may result in rejection.
You can check your CIBIL score free of charge once every year on the official CIBIL website. Visit the site, complete the necessary steps, and access your credit report without any cost.
A poor credit score lowers the likelihood of loan and credit card approvals. It may also lead to higher interest rates, reduced credit limits, and fewer financial opportunities overall.
CIBIL does not have the authority to alter or remove records on its own. It compiles and displays data submitted by banks and financial institutions.
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