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CIBIL Score

Your Credit Score is an indicator provided by the Credit Information Bureau, India Limited indicating how disciplined are your credit management habits. Your credit rating is a summary of various factors, such as loan repayment history, number of accounts, Total amount owed to various lenders, loan tenures and Credit utilisation ratio.

CIBIL Score is a number ranging between 1 and 5 or 300 and 900, which is referred to as the score and is a sum of your credit behaviour. The higher your score, the better your chances of getting your loan approved at lower interest rates.


Why Check Credit Score at HDB Financial Services?

Personalised Report

  • This report will increase your financial awareness & help you make informed decisions.

CIBIL Score & more

  • The report not only content CIBIL Score but also provide insights on protecting your financial stability for fulfilling your investments & aspirational objectives.

Transperant & Secured

  • HDB Financial Services is trusted financial partner & provide transperent & secured transactions.

CIBIL rating is an essential component for a smooth financial journey and here's why:

  • Easy approval – A good score will enhance the trust of the lenders on your repayment discipline, and therefore provide a larger and quicker approval rate on all your applications.
  • Reduction in interest rates – One of the major benefits of keeping a good score is that you will get a loan at a lower interest rate from the lender, eventually reducing your financial burden.
  • Power to negotiate – Through a good score, it will be easier to negotiate the terms of the loan with the lender as per your preference.
  • Extension in your credit repayment tenure – A higher credit repayment tenure will help you to pay off your loan in parts and at a slower pace which eliminates your financial burden to a large extent, as you are not in a hurry to pay your debts back.
  • Easy approval of higher credit amounts – A good score will help in getting a higher amount of credit quickly, and lenders would see a lesser amount of risk associated with giving you a loan.
  • Discount on processing fees and charges – A good score will also eliminate the otherwise cumbersome processing fees and charges.
  • Easy access to pre-approved loans – A substantially high score indicates your clean credit history online, which helps you get pre-approved loans easily.

Factors affecting CIBIL score negatively

  • Credit repayment history – Any default on your loan would be looked into carefully and would badly impact your CIBIL score.
  • Higher unsecured loans – It is essential to have a healthy mix of secured and unsecured loans without it being skewed towards unsecured.
  • Increase in the credit limit – Higher credit limit demonstrates your debt burden, which would negatively impact your score.
  • Many loan applications – Too many applications can look like you are credit hungry and would also demonstrate your loan burden, gaining negative point

Get your CIBIL report instantly through CIBIL score check online free applications.

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What are the Different Credit Score Ranges?

Score & Index Interpretation (i.e., for whom does this score reflect)
NA or NH
  • You don’t have a credit history, i.e., you have never availed a loan or a credit card.
  • Your information has never been reported to CIBIL.
  • Your information has not been reported to CIBIL in the last 24 months.
1-5
  • If your score falls in this range, it means that you have a credit history of less than 6 months
  • Higher the score, lower the risk
300-600
  • If your CIBIL score falls in this range, it is considered as a bad CIBIL score. It means You have been inconsistent in paying your EMIs/dues. A CIBIL score in this range will make it difficult for you to get a loan or a Credit Card as you will be considered as a high-risk customer who can turn into a defaulter.
600-650
  • If your score falls in this range, it is considered as below average. Lenders will approve loans at higher interest rates. Also, approvals for loans will be harder.
650-700
  • If your score falls in this range, it is considered as fair. But very few lenders would approve loans/credit cards. The score indicates that you have been having trouble making your payments in time. Again, the interest rates for loans could be higher in this range. You will need to make serious effort to improve your CIBIL Score to get better deals on loans.
700-750
  • If your score falls in this range, it indicates that you have a healthy credit history. You should continue doing what have been and make all your payments on time to avoid a dip in the score. Lenders would also consider your loan application favourably and you will be able to get good deals on your loan.
750-900
  • This is the best score range possible. It indicates that you have an excellent credit history and have made all payments on time. Lenders will give you great deals on loans and credit cards as you will be considered as a low-risk customer.

However, you can apply a personal loan for low CIBIL score and manage your finances accordingly.