What is CIBIL Score? -

25 Jan

What is CIBIL Score?

A three digit numerical summary that a bank or financial institution inspects to determine an individual person, business start-up, company, working professionals, etc. credibility for easy loan approval. The CIBIL Score is also known as credit score is a source of financial data of any individuals such as loan past history of and credit card information from leading banks and other financial institutions in India over a period of time.

Factors of Credit Score

Credit score data is presented in the form of report also known as Credit Information Report (CIR). A good credit score is an obtained, if the loan borrower fulfils the all parameters listed in the Credit Information Report:-

Payments History
Credit History
Length of Credit History
Types of Credit
Amount Owed

CIBIL stands for Credit Information Bureau (India) Ltd, is India’s leading credit Information Company. It maintains one of the largest collections of consumer information globally by collecting, analysing, and delivering information on the credit histories of millions of borrowers.

Range of Credit Score

A CIBIL score can range from 300 to 900 with 300 being the bottom end and 900 being the best score possible.

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