Good CIBIL Score: Range, Benefits and Tips to Maintain

A good CIBIL score plays an important role in your financial journey, particularly when you apply for loans or credit cards. It indicates how reliable you are with credit and helps lenders judge how well you manage borrowed money.

CIBIL scores range from 300 to 900, and a higher score improves your chances of obtaining credit on favourable terms. A good CIBIL score also enhances your chances of quicker approvals, higher credit limits, and lower interest rates. This makes it easier to access financial products when required.

A good CIBIL score falls between 700 and 900. This range reflects responsible credit usage, timely repayments, and sound financial behaviour. If your score is in this range, you are more likely to get quick loan and credit card approvals. 

You may also receive lower interest rates and higher credit limits. A score between 650 to 749 is considered fair to good, but you need to aim for 750 or above to access the best financial opportunities.

Your CIBIL score is a three-digit number that reflects your creditworthiness. A score of 650 or above is generally considered good for securing loans and credit cards on better terms. Here is what each score range indicates:

Note: Credit score ranges and categories may vary between different credit bureaus.

Here are a few simple and effective tips to maintain and also improve your CIBIL score:

• Pay Bills on Time

Always pay your loan EMIs, credit card bills, and other dues on or before the due date. Timely payments build a strong credit history and increase your score.

• Manage Credit Utilisation

Keep your credit card spending under control and use less than 30% of your total credit limit. A lower utilisation ratio reflects responsible credit behaviour.

• Review Credit Report Regularly

Check your CIBIL report at least once every year to identify any errors. Raise a dispute without delay to ensure your score remains accurate.

• Build Credit History

Start with a secured credit card or a small personal loan to establish a credit history. Responsible usage and timely repayments create a positive track record.

• Increase Credit Limit

Request your credit card issuer to raise your limit after maintaining a good repayment history. A higher limit helps reduce your utilisation ratio and can improve your CIBIL score.

Here are the loan products that you can get on Bajaj Markets from various lenders:

Maintaining a good CIBIL score is essential for building strong financial credibility. A high score improves your chances of securing credit and helps you receive more favourable terms. By following simple and consistent practices, you can steadily enhance your score over time.

To stay on top of your credit health, you need to check your CIBIL score regularly through platforms like Bajaj Markets. It provides a quick and hassle-free method to view your score and access relevant tips to improve it over time.