How to Check Your Cibil Score Online

Your CIBIL credit score is extremely crucial. It conveys your creditworthiness to banks and financial institutions and displays your financial habits. As a result, it is necessary to have your CIBIL score check as frequently as possible and work on improving it. Whenever you need a loan at any point in your life, one of the things that your lender would check about you is your credit score. There are many advantages that you get by having a high credit score, like getting approved for loans and credit. But before applying for a loan or credit card, a CIBIL score check is vital. Wondering how to check your CIBIL score online for free? Scroll down and continue reading the guide to know more!

What is a CIBIL Score?

The CIBIL score is authorised by the Reserve Bank of India and provided to you by the credit rating agency of Credit Information Bureau (India) Ltd. Credit reports and CIBIL scores are based on the credit history influenced by your track record of credit card repayment and your loan repayment history.

A CIBIL score is a three-digit number that ranges between 300 to 900. It is considered by many financial institutions when they make decisions about issuing you a credit card or disbursing loans.

How to Check CIBIL Score for Free Online?

It is necessary to have periodic CIBIL score checks and ensure that it is either maintained or improved. You can do your CIBIL score check using the official website of CIBIL once a year for free. You can follow the below steps to check your score:

• Reach the official website of CIBIL.
• Select the option of getting your CIBIL score.
• Put in your details, such as your email address, name and password. You must also attach your identity proof and type in your PIN code, phone number, and date of birth.
• Once the details have been put correctly, you can click on the option of accept and continue.
• On your registered mobile number, you will receive a one-time password. Put that in, and then click on continue.
• Choose to go to the dashboard and do a CIBIL score check.
• At this point, you get redirected to a new page, and by completing the member login, you can see the CIBIL score.

Other Ways of Checking CIBIL Score

If you cannot do a CIBIL score check for free online using the official CIBIL website, you still have other ways to check your score. You can check your CIBIL score using the various third-party websites available online. For this, you can do a Google search and find one of these established websites. You would need to fill in your information along with identity proof, and by following a simple procedure, you can view your CIBIL score.

Another way of doing a CIBIL score check is through the third-party applications you can find in the App Store or Play Store. You need to download one such application, fill in your information, and you will be able to view your credit score.

Range of CIBIL Score

• Your CIBIL score can be anywhere between 300 to 900.
• If you have a CIBIL score below 549, you have a bad score.
• You will have a fair score if it's between 550 and 649, and few lenders would consider giving you a loan, but it still needs to be better.
• If you have a CIBIL score over 650 but below 749, then you have a good score, and you can increase your score more. In this situation, lenders will consider your credit application and give you a loan, but you may need help negotiating to get the best interest rate.
• Nevertheless, it is the best score you can get if your CIBIL score is between 750 to 900. It would mean you are paying your dues on time and have an excellent payment history. Banks will easily give you credit cards and loans at the best interest rate with high CIBIL scores.
• Things you can do to improve your credit score.

How to Improve Your CIBIL Score?

There are numerous ways to boost your CIBIL score. The easiest way is to do a frequent CIBIL score check. It will give you a good idea about the status of your credit. You can check the score and understand how much you need to improve and whether it has improved with time.

Another great way to boost your CIBIL score is limiting your credit usage. It is always a great idea to spend only 30% of your credit limit. When your score exceeds 750, you must only spend 50% of the credit limit.

There are other simple ways to work on your CIBIL score, like paying your dues on time. When you repay your dues on time, it boosts your financial habits and credit score. It shows that you are a reliable borrower and can repay loans or clear your dues on time.

Conclusion

To conclude, you must do a frequent CIBIL score check because your loan disbursement depends on this score. If you do not need a loan now, you can still have a good score and work towards maintaining high CIBIL scores. In the future, if you ever need a loan, you cannot be denied a loan at a good interest rate if you continue to improve your CIBIL score.

FAQs

How does the CIBIL score work?

It is a three-digit number that gets checked when applying for a loan. If you have a score above 750, you have a good CIBIL score.

Will checking the CIBIL report drop the credit score frequently?

When you check your score, it's a soft inquiry and does not negatively affect your CIBIL score. But when a lender checks your credit report, it is a hard inquiry, and they are recorded in the enquiry section of your report.

What is the lowest score needed for a loan?

If you score above 750, you can easily get a loan with the best interest rate. But if you have a score below it, you can still get a loan, but the terms would not be favourable, nor would the process be simple.

What is a good CIBIL score?

A CIBIL score of above 700 is considered good. With good credit scores, you can qualify for loans and credit card offers from different banks, non-banking financial establishments and other financial institutions.

What is the minimum CIBIL score to get a loan?

Loan providers or credit card issuing companies will consider a score of above 750 to approve your application for a loan or credit card. A high CIBIL score boosts your chances of getting approved for a loan or credit quickly.