What is CIBIL Score?
CIBIL score is a 3-digit number (300–900) that reflects your creditworthiness based on your loan and credit card repayment history. A higher score generally improves loan eligibility, subject to lender policy.
Why is CIBIL Score Important?
- Helps in personal loan approval
- May improve credit card eligibility
- Better score can support lower interest rate negotiation
- Important for balance transfer and debt consolidation
How to Improve CIBIL Score?
- Pay all EMIs and credit card dues on time
- Keep credit utilization below 30%
- Avoid multiple loan enquiries in short time
- Check credit report regularly for errors
Common Reasons for Low CIBIL Score
- Late EMI payments
- Credit card overdue
- Loan settlement / write-off history
- Too many unsecured loans
Need Guidance?
Sanvika Credit Advisory is a Mumbai-based loan agency helping salaried customers with personal loan, debt consolidation, balance transfer and credit advisory.