{"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 class=\"wp-block-paragraph\">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<h2 class=\"wp-block-heading\">A Credit report includes:<\/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 class=\"wp-block-paragraph\"><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\">What should be your ideal Credit score?<\/h3>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">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\">How can improve my CIBIL score?<\/h3>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\"><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 class=\"wp-block-paragraph\">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\">Personal loans from PayMe India<\/h3>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">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_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":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"https:\/\/www.paymeindia.in\/blog\/know-all-about-your-cibil-score-and-see-how-it-is-calculated\/","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[27,29,42,43],"class_list":["post-606","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cibil","tag-credit-report","tag-credit-score","tag-free-cibil-report","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}]}}