{"id":606,"date":"2022-04-16T07:29:00","date_gmt":"2022-04-16T07:29:00","guid":{"rendered":"https:\/\/blog.paymeindia.in\/?p=606"},"modified":"2024-09-04T07:04:07","modified_gmt":"2024-09-04T07:04:07","slug":"know-all-about-your-cibil-score-and-see-how-it-is-calculated","status":"publish","type":"post","link":"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/","title":{"rendered":"Know all about your CIBIL Score and see how it is calculated"},"content":{"rendered":"\r\n<p>CIBIL stands for Credit Information Bureau India Limited. The very first thing that a lender checks before lending a loan is your CIBIL Transunion score, which ranges between 300 to 900. A higher <strong><a title=\"CIBIL score\" href=\"https:\/\/www.paymeindia.in\/get-cibil-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">CIBIL score<\/a><\/strong> enhances your chances of getting a loan. There are many benefits you get with a good credit score. While availing of personal loans you can also negotiate for a low rate of interest.<\/p>\r\n\r\n\r\n\r\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/#a-credit-report-includes\" >A Credit report includes:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/#what-should-be-your-ideal-credit-score\" >What should be your ideal Credit score?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/#how-can-improve-my-cibil-score\" >How can improve my CIBIL score?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/#personal-loans-from-payme-india\" >Personal loans from PayMe India<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"a-credit-report-includes\"><\/span>A Credit report includes:<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<ul>\r\n<li>-&gt; Your CIBIL Score\r\n\r\n<\/li>\r\n<li>-&gt; Personal and contact information\r\n\r\n<\/li>\r\n<li>-&gt; Employment and income information\r\n\r\n<\/li>\r\n<li>-&gt; Number of accounts you have and also your Credit Card account\u00a0\r\n\r\n<\/li>\r\n<li>-&gt; Details of how many times the loan is taken and any amount overdue\r\n\r\n<\/li>\r\n<li>-&gt; Inquiry information from all lenders you\u2019ve applied for credit with<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><strong>CIBIL Score is usually calculated based on several important factors by the credit bureau are mentioned below:<\/strong><\/p>\r\n\r\n\r\n\r\n<ol class=\"wp-block-list\">\r\n<li><strong>Your past repayment report: <\/strong>\u00a0When you default or make a late payment of your EMIs or equated monthly installments it negatively impacts your credit score. This is one of the major factors considered while calculating your CIBIL score.<\/li>\r\n<li><strong>Credit Utilization ratio:<\/strong> Too much usage of credit shows that the borrower depends much on credit. An unwanted incident can push him towards defaulting on the loan. Below 30% credit utilization ratio is ordinarily preferred by creditors.<\/li>\r\n<li><strong>Multiple Enquiries:<\/strong> Multiple inquiries for your CIBIL make lenders think of you as desperate and credit-hungry. Lenders generally don&#8217;t approve applications of such credit applications. Hence, only make a hard inquiry when you are sure of getting a loan. But, monitoring your credit score frequently befalls under soft inquiries and does not influence your credit score.<\/li>\r\n<li><strong>The number of times you apply for a loan<\/strong>: Your CIBIL report keeps a record of how frequently you have applied for a loan in past and how many loans got approved. If many loans were rejected, it can negatively impact your score.<\/li>\r\n<li><strong>Credit Mix: <\/strong>You should have a perfect balance of secured and unsecured debts to maintain a strong credit history. But this factor does not affect much while calculating your CIBIL.<\/li>\r\n<\/ol>\r\n\r\n<div style=\"background: #152745; max-width: 700px; width: 100%; height: 130px; border-radius: 10px; padding: 30px; text-align: justify;\">\r\n<p style=\"font-size: 30px!important; line-height: 36px; font-weight: 400; padding-top: 12px; color: #ffffff!important; text-align: center; margin: 0; font-family: 'Assistant', sans-serif;\">A few clicks to fix your CIBIL mix<\/p>\r\n<div style=\"text-align: center; margin-top: 40px;\"><a style=\"border-radius: 10px; background-color: #fc6603; color: #fff!important; font-size: 18px; padding: 15px 43px; cursor: pointer;\" href=\"https:\/\/www.paymeindia.in\/credit-assist\/?utm_source=blog&amp;utm_medium=blog-in-content-cta\">Explore More<\/a><\/div>\r\n<\/div>\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-should-be-your-ideal-credit-score\"><\/span>What should be your ideal Credit score?<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>Any score between 700 and 900 is generally considered an ideal credit score. Higher the credit score higher the chances of your loan application getting approved. You can avail of a personal loan, home loan, or car loan with a <strong>credit score<\/strong> above 700.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-can-improve-my-cibil-score\"><\/span>How can improve my CIBIL score?<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p><strong>Here are a few ways that will <a href=\"https:\/\/www.paymeindia.in\/blog\/how-to-increase-cibil-credit-score\/\">help you in improving your credit score<\/a>:<\/strong><\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>-&gt; Set reminders for payments and pay your EMIs on time.\r\n\r\n<\/li>\r\n<li>-&gt; Try to avoid taking too much debt at one time.\r\n\r\n<\/li>\r\n<li>-&gt; Keep up a healthy mix of credit, and avoid taking too many unsecured loans.\r\n\r\n<\/li>\r\n<li>-&gt; Constantly check your CIBIL report for inconsistencies and mistakes.\r\n\r\n<\/li>\r\n<li>-&gt; Regularly keep checking your CIBIL Score.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Improving your CIBIL Score is not a one-day process. Patiently build and rebuild your credit score.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"personal-loans-from-payme-india\"><\/span>Personal loans from PayMe India<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<p>Avail of a hassle-free <strong>personal loan<\/strong> from PayMe India from Rs. 500 to Rs. 2 lakhs at reasonable interest rates to finance your needs. Be it for planning a grand wedding, planning a vacation, renovative homes, or even debt consolidations. You can easily <a href=\"https:\/\/www.paymeindia.in\/personal-loan\/\">apply for a personal loan online<\/a> with PayMe India. Still, remember to verify your eligibility first.<\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>-&gt; Must be a citizen of India\r\n\r\n<\/li>\r\n<li>-&gt; Age must be above 21\r\n\r\n<\/li>\r\n<li>-&gt; You must be self-employed or an employee of either a public sector company or a registered private limited firm\u00a0\r\n\r\n<\/li>\r\n<li>-&gt; Must earn at least Rs. 15,000 per month.<\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"<p>CIBIL stands for Credit Information Bureau India Limited. The very first thing that a lender checks before lending a loan is your CIBIL Transunion score, which ranges between 300 to 900. A higher CIBIL score enhances your chances of getting a loan. There are many benefits you get with a good credit score. While availing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Know all about your CIBIL Score and see how it is calculated","_seopress_titles_desc":"Understand your CIBIL score, including how it's calculated, its importance for loan approvals, and tips to improve and maintain a healthy credit score.","_seopress_robots_index":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[27,29,42,43],"class_list":{"0":"post-606","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cibil","8":"tag-credit-report","9":"tag-credit-score","10":"tag-free-cibil-report","11":"tag-free-cibil-score"},"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.paymeindia.in\/blog\/wp-content\/uploads\/2022\/04\/CIBIL-Score-and-see-how-it-is-calculated.png?fit=800%2C450&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/comments?post=606"}],"version-history":[{"count":5,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/606\/revisions"}],"predecessor-version":[{"id":268347,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/posts\/606\/revisions\/268347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/media\/610"}],"wp:attachment":[{"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/media?parent=606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/categories?post=606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paymeindia.in\/blog\/wp-json\/wp\/v2\/tags?post=606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}