Does having a low CIBIL score make it difficult to get a Personal loan?
This three-digit score ranging from 300 to 900 is allocated by the credit ranking agency known as TransUnion CIBIL. It shows your creditworthiness and repayment capability.
Personal loans can be very beneficial when you need funds to meet planned or unplanned expenses. These may include financing a wedding, medical expenses, your child’s education, home repairs and more. However, financial institutions look for financial stability from borrowers to sanction a loan. One of the parameters lenders checks before approving your application is your CIBIL score.