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Business News/ Money / Personal Finance/  Applying for loan? Here's how to check your CIBIL score online
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Applying for loan? Here's how to check your CIBIL score online

CIBIL score is calculated on the basis of at least 6 months of historical financial data of an individual.

A Cibil score or a credit score is one of the first checks that a lender does while evaluating your loan application to understand your credit health or credit worthiness. (Photo: iStock)Premium
A Cibil score or a credit score is one of the first checks that a lender does while evaluating your loan application to understand your credit health or credit worthiness. (Photo: iStock)

CIBIL score or credit score is the reflection of a person’s credit history and is the first checks banks or any other financial institutions do to check the credibility of the borrower. The credit score is generated by CIBIL which is one of the credit bureaus in India. 

It consists of a three-digit numeric summary of your credit history. The value may range between 300 to 900. An excellent CIBIL score comes in the range of 750-900. A good CIBIL score comes in a range of 650-750. CIBIL score ranging between 550-650 comes in the average category, and the one coming in the range of 300-500 comes under the poor category.

Here's how to check CIBIL score

Cibil score is calculated on the basis of at least 6 months of historical financial data of an individual. 

Go to the official website of https://www.cibil.com/

Fill up the online form which asks for your personal details such as name, date of birth, address, pin code, id proof, past loan history and other relevant data.

CIBIL will send you an OTP to verify your details. It may even ask you for more information to know you more. CIBIL follows a robust authentication process. Make sure you have details of your different loans like home loan, credit card and your mobile phone handy.

Upon successful verification, you will receive your CIBIL score report for free. CIBIL provides you with one CIBIL Score and Report without any charge once in a calendar year. 

However, if your want to check your CIBIL scores, you can also opt for their subscription plans, wherein users can keep checking their CIBIL score from time to time. The website offers three plans - 1 month basic plan for 550, 6 months standard plan for 800 and Premium 1 year plan for 1200. Users can check CIBIL website to see the features offered in each plan. 

Apart from the official website, CIBIL scores can also be checked for free on banks website and other financial institutions like Paisabazar.com, IIFL, Bajaj Finance etc by simply providing your name, date of birth, address, pin code, PAN card number. 

However, just checking your CIBIL score is not enough, maintaining a good credit score is also important. 

Here's how to maintain your CIBIL Score

Make sure to pay your loan instalments on time. If instalments are missed, it can affect the credit score for future loans.

Curb credit amount or cut down spending to reduce the use of credit cards.

Despite of low-interest rates, stay away from taking too much debt.

An instant way to improve your credit score is to increase your credit limit.

Borrowers can also go for long term loan so that EMI gets less and it is easy to pay it back.

Never be a guarantor of someone else's loan as any default on their loan can also affect your Credit score.

  

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Published: 16 Dec 2022, 10:05 AM IST
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