How To Increase Cibil Score?

 Hello Friends..

        When we heard about the word bank loan that time there is also another word comes simultaneously i.e. Cibil Score. So today I am going to talk about the How to Increase Cibil Score.

      Let's see in detail about Cibil Score.

CIBIL SCORE:

      This topic can be very important for those people who are new in the Finance market. But there are so many fraud people who tell us that , ' You will get loan from bank even if your Cibil Score is bad'. Stay away from such people, because you will get a loan from bank only if your Cibil Score is good.

      At the end of this post I am also giving the info about 'How To Increase Cibil Score?' So I request you to please read this post completely.

What exact is the Cibil Score?

      Generally, people has two types of habits.

1. Depositing Habit: Some people are trying to save small amount money to fulfill their dreams. 

2. Repayment Habit: Some people take loan to buy the things they want and after some time.

       There is no relation between these. Earlier, same person took loan from various banks, so the that time the problem was created that there were no communication took place between these banks. That time, one document plays important role i.e. No Dues certificate.

      So, there was a mess created among these banks and so many problem came into existence related to such loan cases. So to overcome on this problem, a new bank was came into existence i.e. Credit Information Bureau Ltd. Today this bank is known as TransUnion CIBIL LTD. This bank is connected to all over the banks and financial organizations. This is under the surveillance of Reserve bank of India.

     If you go to bank and make an application for the loan, then the bank officers says that please come after teo three days for further procedure. Now, bank will check our CIBIL REPORT and then they check payment history and Cibil Score.

    For example, for marriage purpose we check the background of family, like this the bank check our economical history i.e. Cibil Report.

How the Cibil Score is calculated?

    Cibil Score is is measured between 300 to 900. If your Cibil Score is in between 750 to 900 then you will get the loan easily. But if your score is less than 650 then bank will ask you about improving your Cibil Score.

    Now you understand that why the bank refuses to give loan to us. This is because of bad Cibil Score.

Why the Cibil Score Decreases?

  • No payment of the EMI of loan on time.
  • Non repayment of loan.
  • Check bounce.
  • Usage of Credit card beyond limit.
  • Loans on own go into NPA.
  • Continuously apply for loans in different banks.
      Because of such reasons the Cibil Score is affects badly.




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