How to Check CIBIL Score Free Online By Pan Card?: Friends, we have to face financial crises many times in the phase of our life. To avoid a financial crisis, we turn to banks.
We take loans to meet our needs. The best part is that loans are given through banks at low-interest rates when you need them. Whenever there is a discussion of loans, the CIBIL score is the main thing in the discussion.
If your CIBIL score is correct, then any bank will give you a loan easily. If your CIBIL score is not good, then in this situation the bank can reject your loan. Most importantly, you need to maintain your CIBIL score. So that you do not have to face any problems while taking a loan in any difficult time.
Friends! Do you know about CIBIL Score? This word is heard a lot, but hardly anyone knows its meaning in the true sense. If you also want to know about CIBIL Score, then this article will provide you with all types of information related to CIBIL Score. Let us know, what else happens and what is its importance. The focus of today’s article will be on how to check CIBIL scores?
What is CIBIL Score?
CIBIL Score is an English word for the full name of Credit Information Bureau India Limited. The CIBIL: Credit Information Bureau (India) Ltd. CIBIL Score is the financier data of an individual. Which is used to give loans or credit cards.
Credit Information Bureau India Limited generates this data by collecting information from your bank transactions and PAN card. Which is later used to take a loan. This same data is presented in the form of a CIBIL credit report.
CIBIL Score is also known as Credit Information Report or CIR. Mainly, payment history, credit exposure, type of loan, and tenure of the loan play a major role in reducing or increasing the CIBIL score. “How to Check CIBIL Score Free Online By Pan Card”
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What is the Maximum CIBIL Score Can Be?
Friends, the range of CIBIL score ranges from 300 to 900, 300 is its minimum level. On the other hand 920 has a maximum level. A person with a CIBIL score of up to 750 is considered a responsible borrower. There are mainly five types of CIBIL scores.
NA/NH CIBIL Score
NA/NH: If you are taking a loan for the first time in your life, then in this case your CIBIL score will be shown as NA/NH. NA stands for: Not Available and NH stands for No History.
If you have never used a credit card or taken any loan before in your life, then no CIBIL score will be generated for you.
If you want to create your CIBIL score, then for this you need to get your credit card. So that your CIBIL score can increase. “How to Check CIBIL Score Free Online By Pan Card”
CIBIL Score from 350 to 549
If your CIBIL score falls in the range of 350 to 549, then it means that your CIBIL score is very poor. You do not pay your credit card payments on time or you have taken a loan. Which you have not paid in full.
Or do not pay the loan installment on time. If your CIBIL score is in this range then it is very difficult to get a new loan. Banks register this range of individuals as defaulters, which may deprive you of loans in the future.
CIBIL scores range from 550 to 649
If your CIBIL score falls between 550 to 649, then it is considered in a good category. But even in this category, you may have a lot of problems in getting a loan.
Few banks offer credit cards or loans to this range of customers. If you want to take a loan easily, then for this you have to improve your CIBIL score.
CIBIL Score from 650 to 749
If your CIBIL score is in the range of 650 to 749, then it means that you are a responsible person. And your CIBIL score is correct. In this situation, any bank gives you a loan. However, you still need to improve your CIBIL score. If you keep making credit card payments on time or keep paying loan installments, then gradually it will get better.
750 to 900
If your CIBIL score is more than 750 then you are a very good customer. No bank will deny you a loan and the best part is that with such a CIBIL score you will get a loan at low-interest rates.
Those who are above 750, they keep their credit card history up to date. Along with this, the loan taken earlier will also have to be repaid on time. It is generally seen that online lending platforms also ask you for a CIBIL score of 750. “How to Check CIBIL Score Free Online By Pan Card”
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Factors Affecting CIBIL Score
Friends, now we will talk about the factors affecting the CIBIL score. Sometimes knowingly or unknowingly we make small mistakes. Which has a huge impact on our CIBIL score.
To maintain a good CIBIL score, you need to know about those factors. The factors on which the CIBIL score is determined.
We have also mentioned earlier that the CIBIL score can be calculated from your credit card records and if you have taken a loan earlier. So based on this loan is decided. If you pay your credit card installments on time and pay the loan MIBs on time every month, then your CIBIL score starts increasing in this situation.
Now, If you do not pay the installments on time, then in this situation your CIBIL score starts getting worse. If you do not pay any installment for 30 days. So in this situation, your CIBIL score can drop down to 100 marks.
Credit Utilization Ratio:
By the way, you can have more than one loan and more than one credit card. But keep in mind that you do not have to use more money. If you are taking more than one credit card or loan, then do not take more amount.
Because having a high loan amount can hurt your CIBIL score. If you take a loan from many places, then you should also have more money to pay it. And if you are taking a loan, then it is obvious that you are going through a financial crisis.
In this situation, the bank starts thinking that you are going to run away with bank money soon. So in this situation, your CIBIL score starts falling. To maintain the credit score, you should use a credit card limit of only up to 30%.
Loan/Credit Type and Tenure:
Friends, your credit history is also checked to maintain the CIBIL score call. It also shows how many years you have used the credit card, or for how many years you have taken a loan. If you have been doing this kind of transaction for many years, then obviously the company will not hesitate to give you money. Hence the tenure of the loan would have helped increase the CIBIL score.
Apart from this, it is also checked in how much time you have applied for the loan. If you have applied for a lot of loans in a short period, then in this situation your CIBIL score will also get negatively impacted. “How to Check CIBIL Score Free Online By Pan Card”
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How Can I Increase My CIBIL Score?
Friends, you must know the importance of the CIBIL score. CIBIL Score plays an important role when you consider taking a loan at any difficult time. Because based on the CIBIL score, it is decided which customer to give a loan to and who is not.
The loan applications of the customers who have good Camp Score are accepted. On the other hand, the CIBIL score of the customers is bad. His loan application gets rejected. So you should take care of the CIBIL score.
If some customers get bad CIBIL scores then you need not worry. Now we will know how to increase it. Once your CIBIL score increases, then any bank will give you a loan easily.
- Pay your monthly installments on time.
- Pay the credit card bill before the due date.
- Replicate the full amount of all the installments. Don’t put any installments behind for later. This can hurt your CIBIL score.
- Use credit cards only up to 30% off.
- Keep checking your credit score from time to time. If there is any mistake in it, rectify it.
Benefits of Having a Good CIBIL Score
Friends, now we will talk about what are the benefits you get if you have a good CIBIL score.
Low-Interest Rates: Having a good CIBIL score means that the bank agrees to give you a loan at lower interest rates than other customers. Because the bank is sure that you will return its money. Therefore, being a reliable customer of the bank, you are given loans at low-interest rates.
Ease of getting a loan: It is often seen that some loans take a loan from the bank. But don’t pay it. In such a situation, a lot of money from the banks gets wasted. Due to these few reasons, your banks give loans very thoughtfully.
If your CIBIL score is good then you will be given a loan easily as compared to other customers. People with low CIBIL scores face difficulties in getting loans. Sometimes it happens that their loan application is rejected. If yours is good, then any bank will give you a loan easily.
Higher credit limit and higher credit limit: Customers who have a good CIBIL score are offered higher credit limits than other customers. Also, if he takes a loan, then he is given a loan limit in comparison to other customers.
The customers have full confidence that they will repay the loan amount. That’s why banks do not hesitate when giving loan amounts to them. “How to Check CIBIL Score Free Online By Pan Card”
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How to Check Your CIBIL Score Online?
Friends, now we have got information about CIBIL Score. Now we will know that if you want to know your CIBIL score, then how can you check it. You do not need to visit any bank or bank branch to check your CIBIL score. You can easily check it through your phone itself.
How to Check CIBIL Score Free Online- Step By Step Process:
Step-1: First of all you have to go to the CIBIL Security official website. As soon as you go to the official website of CIBIL Score, you will see the option of Gate Your Civil Score Now.
Official CIBIL Score Website Link: www.cibil.com
Step-2: You have to login into it. If you do not have an account on the CIBIL Score official website, you can also create an account from here by clicking on “Get Your CIBIL Score Now”.
Step-3: After clicking on this link you will be taken to a new form. Where you will be asked for your necessary information. Some information will be asked from you such as your name, date of birth, address of the place of residence, any ID proof issued by the Government of India, and past loan history. You have to enter all this information into it.
Step-4: After giving all this information you will be taken to the payment page. To know the CIBIL score, you have to pay ₹ 470. For this, you can also take the help of your credit card, debit card, or UPI ID.
Step-5: After making the payment, you will be taken to the authentication page. Where you are asked 5 questions about your credit history. If you don’t answer 3 out of 5 questions, your authentication is accepted. After this, your CIBIL score report is mailed to you within 24 hours.
If for some reason you are not able to pass in the authentication, then you do not have to be disappointed. In this case, you can send the hard copy of the application to the CIBIL official website through email.
Can We Check the CIBIL Score for Free?
Friends, to check the official CIBIL score, you have to take a subscription plan. Under the subscription plan, you can check your CIBIL score. Otherwise, you cannot check your CIBIL score in any other way.
There can also be a situation where you can get your CIBIL score checked by visiting your bank. The bank may tell you your CIBIL score. If someone on an online platform like Google claims to check CIBIL score for free, it may not be completely reliable.
Your bank may also refuse to accept this data, so you should check the CIBIL score from the official website itself.
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Friends, in today’s article we have learned how to check CIBIL scores online. Along with this, we also discussed in detail the important information about CIBIL Score “How to Check CIBIL Score Free Online By Pan Card?”.
Hope you have got all the information related to the CIBIL score in this article. If you have any other problems related to the CIBIL score then you can tell them in the comment section. You will be replied to soon.
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