High CIBIL score helps to get home loan at discounted rate. Paying credit card bills on time save money via future loans
3 years, 2 months ago

High CIBIL score helps to get home loan at discounted rate. Paying credit card bills on time save money via future loans

Live Mint  

In the wake of the festive season, HDFC is offering a discounted rate of interest at 6.7 percent per annum on home loans. For those with a relatively lower credit score, the interest rate will be charged in the range of 6.8 percent to 7.3 percent per annum for loans under ₹30 lakh. Your credit card spend affects CIBIL score When you keep your overall credit card expenditure below 30 percent of its overall limit, it is considered good for your CIBIL score. So, we can conclude that paying your credit card bills on time, and clearing your bills instead of just paying the minimum due will help you achieve a good CIBIL score, and thus a lower rate of interest on your home loans. Headline: How to maintain a high CIBIL score ■ Limit your overall credit card expenditure below 30 percent of its limit.

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History of this topic

CIBIL score to get a home loan: How high should it be?
3 days, 22 hours ago

CIBIL score to get a home loan: How high should it be?

Live Mint  

Many people want to become home owners, and owning a home might be as simple as taking a home loan. One of the necessary requirements is that you ought to be credit-worthy, as a high CIBIL score increases your opportunities of acceptance besides helping to bargain better terms for loan. Here we will know the minimum required CIBIL score for …

What affects your CIBIL score? 10 key factors you need to know
4 days, 20 hours ago

What affects your CIBIL score? 10 key factors you need to know

Live Mint  

When you apply for a loan or a credit card, banks check several factors to approve your request. Banks check CIBIL scores to determine the terms of the loans and approve your request for a loan or a credit card. A high CIBIL score will help you get your loan and credit card requests with better interest rates. Top 10 …

Facing credit issues? Here are 5 easy ways to improve your CIBIL score
Trending News
2 weeks, 5 days ago

Facing credit issues? Here are 5 easy ways to improve your CIBIL score

India Today  

Many people use credit cards for purchases and services, often attracted by convenience and benefits. Your CIBIL score is a 3-digit number ranging from 300 to 900, summarising your credit history and repayment behavior. A good score often leads to benefits like higher credit limits, faster loan approvals, and better loan terms. Here are simple tips to help you improve …

Credit Score: What is it and how does it affect your loan approval?
3 weeks, 4 days ago

Credit Score: What is it and how does it affect your loan approval?

Live Mint  

If you are someone who is interested in borrowing a loan or if you want to apply for a credit card, then knowing your credit score is extremely important. Lenders also pay close attention to your credit score for granting you the interest rate, repayment tenure and principal amount for your loan. Nevertheless, it is interesting to note that the …

CIBIL: How to improve your credit score with a mortgage loan?
7 months, 4 weeks ago

CIBIL: How to improve your credit score with a mortgage loan?

Live Mint  

Taking a mortgage and managing it in a responsible way can improve your CIBIL score. Best Personal Loan for you at lowest interest rate Instant Apply This is how mortgage helps borrowers improve CIBIL score: Payment history: Making regular mortgage payments shows to credit bureaus that you are a responsible borrower. Overall, responsibly managing a mortgage can be a positive …

How to improve CIBIL score in the long term? Here are six strategies
8 months, 1 week ago

How to improve CIBIL score in the long term? Here are six strategies

Live Mint  

Improving your CIBIL score in the long-term calls for consistent effort and responsible financial habits. Best Personal Loan for you at lowest interest rate Instant Apply Follow these six strategies to improve your credit score in the long run. Pay bills on time: Payment history is a significant factor in your credit score. Authorised user: If someone you trust has …

CIBIL: 8 key indicators of a good credit score that you need to be aware of
8 months, 2 weeks ago

CIBIL: 8 key indicators of a good credit score that you need to be aware of

Live Mint  

A good CIBIL score, or credit score, is indispensable to procure loans and credit cards at favourable terms. For instance, if Mr Ajay pays his bills on time, never crosses 30 percent of his credit card limit, uses a diverse set of credit types, never defaulted on any bill, and has a long credit history – then the chances of …

What Is The Minimum CIBIL Score Required For Car Loan
9 months, 1 week ago

What Is The Minimum CIBIL Score Required For Car Loan

News 18  

Maintaining a high CIBIL score is crucial when applying for various types of loans including personal, home, or car loans. A high credit score signifies trustworthiness and responsible credit behaviour, leading to lower interest rates on vehicle loans offered by top banks and Non-Banking Financial Corporations. A higher credit score may also enable you to acquire a reduced interest rate …

CIBIL Score: What is it and why is it important? Key questions answered
9 months, 2 weeks ago

CIBIL Score: What is it and why is it important? Key questions answered

Live Mint  

A CIBIL score is a numeric representation of creditworthiness of borrower or investor. Range between 300 to 900 The CIBIL score typically ranges from 300 to 900 with a higher score reflecting better creditworthiness. Best Personal Loan for you at lowest interest rate Instant Apply Importance of CIBIL score Credit limits: A good CIBIL score usually leads to higher credit …

A high CIBIL score like that of Priyasha Saluja is possible with responsible credit usage; here's how
10 months, 3 weeks ago

A high CIBIL score like that of Priyasha Saluja is possible with responsible credit usage; here's how

Live Mint  

Aiming for a high CIBIL score is valuable, as it unlocks access to various financial advantages. Sustain a favourable credit card utilization ratio A high CIBIL Score is not impossible. Ensuring a favourable credit card utilization ratio can help in enhancing and sustaining a healthy credit score. Clear your balance completely : The most effective approach to maintain a low …

Step-by-Step Guide to Achieving Lower Rates on Your Personal Loan
1 year ago

Step-by-Step Guide to Achieving Lower Rates on Your Personal Loan

The Quint  

Personal finances can often feel like a difficult puzzle, especially when getting a personal loan at a competitive interest rate. Tip 1: Maintain a High CIBIL Score Keeping a high CIBIL score is very important if you want a personal loan with low interest rates. Tip 2: Compare Different financial institutions Don’t just go with your first option when looking …

The Impact of Your Credit Score on Your Home Loan Interest Rate
1 year, 6 months ago

The Impact of Your Credit Score on Your Home Loan Interest Rate

India TV News  

A borrower's credit score is crucial and yet many credit users go about life completely unaware of the concept of credit scores. Does a borrower's CIBIL score also impact the home loan interest rates they get offered? How Does Your Credit Score Impact Your Home Loan Interest Rates? Borrowers or credit users whose CIBIL score varies between 700 and 749 …

CIBIL Score: What's This, Why Is It Important, How To Improve Score? Check Details
2 years, 1 month ago

CIBIL Score: What's This, Why Is It Important, How To Improve Score? Check Details

News 18  

If you are planning to take a loan from banks or non-banking financial companies, you should have a good CIBIL score for easy approval and also for low interest rates. Importance of CIBIL Score If you go to take a loan or apply for a credit card, the bank checks your CIBIL score to ensure your creditworthiness and risk profile. …

Loans Getting Costlier As Banks Raise Interest: Here's What You Can Do For Cheaper Credit
2 years, 5 months ago

Loans Getting Costlier As Banks Raise Interest: Here's What You Can Do For Cheaper Credit

News 18  

As banks are increasing their interest rates on loans, EMIs are getting higher and the stress on the household budget is increasing. Know in detail how it helps in getting a cheaper loan and how a good credit rating score can be maintained: CIBIL Score and Interest Rates On Loans CIBIL Score is a credit rating assigned to borrowers by …

Interest Rate Hike On Loans By Banks: Know How CIBIL Score Can Help You Save Money
2 years, 6 months ago

Interest Rate Hike On Loans By Banks: Know How CIBIL Score Can Help You Save Money

News 18  

As the Reserve Bank of India is raising its policy rates to control high inflation, banks are also following the suit and increasing interest rates on various loans. Here’s how a good CIBIL score can get you a cheaper loan and how to maintain a good score: CIBIL Score and Loan Approvals Banks approve loans or issue credit cards to …

CIBIL: How To Check Score Online; Tips To Improve And Maintain Good Rating
2 years, 7 months ago

CIBIL: How To Check Score Online; Tips To Improve And Maintain Good Rating

News 18  

CIBIL score is a rating given to borrowers for their past credit repayment history, which shows the credit discipline of the person and also creditworthiness. Type in the OTP and select ‘Continue’ 7) Select ‘go to dashboard’ and check your credit score 8) You will be redirected to the website, myscore.cibil.com 9) Click on ‘member login’ and once you log …

CIBIL Score: Faster Loan Approval, Cheaper Loans; Know How Good Rating Is Beneficial
2 years, 7 months ago

CIBIL Score: Faster Loan Approval, Cheaper Loans; Know How Good Rating Is Beneficial

News 18  

At the time of seeking loans from banks or any other financial institution, the borrower’s CIBIL score is looked into. Banks approve loans or issue credit cards to only those having a good CIBIL score. Here’s why a good CIBIL score is important and what’s the benefit of a good CIBIL score: Cheaper Loans: Banks offer interest rates on loans …

Banks Check CIBIL Score to Approve Loans, Credit Cards; What Is It, Why Is It Important?
2 years, 8 months ago

Banks Check CIBIL Score to Approve Loans, Credit Cards; What Is It, Why Is It Important?

News 18  

There is a large number of people in the country who have taken or are planning to take loans, credit cards or other lines of credit from banks or other financial institutions. While approving loans or credit cards to a borrower, the financial institutions look into the CIBIL score of the person. Whenever one goes to take a loan, or …

CIBIL Score: Metric estimates your ability to repay personal loan; check steps to calculate your score here
3 years, 6 months ago

CIBIL Score: Metric estimates your ability to repay personal loan; check steps to calculate your score here

Firstpost  

A credit score above 750 is considered excellent and can get approval for a personal loan at lower interest rates A personal loan is one of the most common borrowing options for people seeking funds for a variety of personal reasons. A credit score above 750 is considered excellent and can get approval for a personal loan at lower interest …

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