My Cibil Score Is 650 Can I Get Personal Loan
Boosting your score into the good range could help you gain access to more credit options lower interest rates and reduced fees.
My cibil score is 650 can i get personal loan. This score is generated by cibil i e. How do i check my cibil score. What is the minimum cibil score to get a personal loan.
A 650 fico score is a good starting point for building a better credit score. You can get a personal loan with a cibil of 750 and above. What is cibil score.
As a rule of thumb a credit score above 750 points makes you and anything below this mark makes you less attractive prospect for lending. After all your cibil score defines your credit worth. You should ideally have a score that is closer to 900 as it helps you get better deals on loans and credit cards.
Conversely a personal loan for a cibil score of 550 or less may lead to rejection or a higher interest rate as you may be considered a high risk borrower depending on the lender s policy. In this way you can get your life back on track. While a 650 credit score is nothing to be ashamed of possessing it is by no means a great score.
A cibil score has a range between 300 and 900. Why is credit score important for getting a personal loan. An rbi authorized credit agency.
The minimum cibil credit score to get a personal loan from a bank or nbfc is 750 or above. The arithmetic behind cibil score is in the consumer interest to understand. Most banks look for a minimum score of 750 when deciding whether to approve of a loan application.
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