WHAT IS A CIBIL SCORE? A cibil score is a credit score used in India to measure an individual's creditworthiness. It ranges from 300 to 900, with 900 being the highest possible score. A good cibil score is considered to be 700 or above.
HOW DOES IT WORK? Your cibil score is based on your credit history, which is a record of your borrowing and repayment activity. Thescore is used by lenders to determine your eligibility for loans and other forms of credit.
WHY IS IT IMPORTANT? Your cibil score is one of the factors that lenders will consider when you apply for a loan or credit card. A high score means you're seen as a low-risk borrower, which could lead to lower interest rates and better loan terms. A low score could make it more difficult to get approved for loans and lines of credit, and could result in higher interest rates if you are approved. If you're planning on applying for any type of credit in the near future, it's a good idea to check your cibil score
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