How Can CIBIL Score Stop Or Release Your Instant Approval?by Kavya Jain Professional Writer
Did you know the fact your high CIBIL score can provide a lower interest rate while availing a loan? Yes, the bank and non-banking financial company can provide the best services, those credits or CIBIL score calculation going 750 and above. You may avail to get a loan with a low score, but the lenders charge high-interest rate.
If anyone wants to improve the score an above 750, so must avail a small loan and repay them responsibly without raising any red flags. That’s why it’s necessary to know your CIBIl score through an online or via PAN card.
Check CIBIL Score Through An Online
Login the official site
Enter your name, date of birth, and gender
Identity and address proof
Share registered mobile number or email ID
Accept terms and conditions before applying
Check CIBIL Score Through PAN Card
Enter your name, date of birth, and gender through PAN card
Identity and address proof
Provide registered email ID or mobile number
Accept terms and conditions
For both procedures, need to answer a few questions. They can ask questions related to your previous penalty, outstanding balance and more. If you answer all questions correctly, then only within a day receive a confirmation mail on registered email ID.
If Your Score Is Less Than 750, So How To Improve CIBIL Score?
A credit score is a three-digit number, which starts from 300 to 900 range. Every score can explain your position. If you can get 300 points, it means out of the lenders choice. 450 to 500 is better from the first one but still not acceptable for the loan. 550 to 600 indicates, need to repay all bills on time. 650 to 700 now will get a loan but a high interest-rate. 750 to 800 satisfactory score for the lender and get a loan easily. And 850 to 900 score calculation shows the perfect choice of the lenders. So big question is how to improve CIBIL score? Let’s find out below a few points.
Use Your Card: After getting the card, if you are not using it, that thing can also destroy your points. That’s why check your points from time to time and utilize your beneficial features.
Pay The Bills On-Time: It’s an important task if you want instant approval for a loan. Pay all utility bills on-time can show your responsible behavior. To get the highest credit score need to control all the things from the bottom to top means pay bills before the due date and save CIBIL score.
Never Use The Full Credit Limit: If the bank can give 50% of the loan limit, it doesn’t mean you have to use it within one month. No, the lenders can check your utilization. The less you can use it the more can get benefits.
Never Make Too Many Applications For Credit Cards: With each application, they can inquire your previous credit limit. When the bank can inquire, the score goes down. That’s why never make too many applications it can damage your points.
Created on Aug 9th 2018 05:29. Viewed 174 times.