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Importance of Credit Score 5 years 1 day ago

Credit score is an important component of your financial background. Even if you haven’t actively monitored or worked towards building a credit score, you already have one thanks to the dealings with various financial institutions who feed your financial data to CIBIL. CIBIL is responsible for providing credit score or CIBIL score to people.

The Correlation Between CIBIL Scores, Loans and Credit Cards 4 years 31 weeks ago

Any individual looking to obtain a loan or a credit card from a bank or a financial institution will most certainly need to possess a good CIBIL score in order to do so. While there are other factors involved in determining whether an individual is eligible for a loan or not, a high CIBIL score is the most important determinant in this day and age. In fact, it is nigh on impossible to acquire a loan or a credit card without a decent CIBIL score to highlight an individual’s creditworthiness.

CIBIL | Know about Credit Information Company 4 years 49 weeks ago

CIBIL which stands for Credit Information Bureau (India) Limited, is an ISO 27001:2005 company. A first of its kind, it is India’s premier Credit Information Company (CIC). Founded in the year 2000, it has established itself as a key participant of the Indian financial system. The company records credit related information of individuals as submitted by registered member institutions

The Link Between MCLR and CIBIL Score 4 years 31 weeks ago

At first look, you will find no connection between Marginal Cost of Funding-based Lending Rate (MCLR) and your CIBIL or credit score. While MCLR is the late of lending of the banks, CIBIL score determines your credit-worthiness as a borrower. Let us take a look at both the concepts in brief before discussing how the two are related.

Three steps for credit newbies to get the ball rolling 5 years 13 weeks ago

If you’ve never taken credit before, your credit score with the country’s leading credit
information bureau – CIBIL – will read NH, meaning “No History”. Banks and lenders tend to avoid “NH” applications because of their potential for default and the direct losses the bank will experience as a result.

Impact of Credit Score for SMEs New Business Loan 3 years 27 weeks ago

The traditional financial institutions done the hard credit inquiry before approving an SME loan for new business in India. But there are also some lenders which conduct a soft credit inquiry to provides SMEs loan for your business. Credit score will impact only when they are requested for a copy of CIBIL score of your business.

Applying For Small Business Loans With A Poor Credit Score 3 years 1 week ago

Every SME needs fast working capital to cover their business operational needs. The stringent eligibility criteria need for a good credit score and assets as collateral. If your business have poor credit score then CIBIL score impact to getting a business loan in India for most SMEs.