Credit Score

To know how a personal loan impacts your credit score, you need first to understand your credit score and how things get affected. A credit score is a numerical expression based on a level analysis of a person's credit files to represent the creditworthiness of an individual.

Availing an instant personal loan involves a structured process. Just like submitting a correct loan application is important, likewise, making a loan repayment on time is equally significant to maintain a good credit score.

A personal loan is the most popular form of borrowing for financial emergencies. A good credit score not only increases your chances of quick approval but also boosts up your chances of negotiating for a lower interest rate. While availing of a personal loan, a good credit score plays a vital role as it demonstrates your creditworthiness and your capability of handling credits well.  

A debt consolidation loan as the name suggests consolidates all debts into a single loan. A debt consolidation loan carries the load of various other loans which often makes the loan amount heavy. A high credit score helps in instant approval while a low credit score can create difficulties in loan approval.   

CIBIL score is a 3-digit numeric summary of the credit information report and is based on past credit behavior and repayment history, credit mix, and credit inquiries. The higher your CIBIL score, the better are the chances of your loan getting approved. A personal loan is sanctioned after analyzing the credit score of the borrower.

CIBIL score is a 3-digit numeric synopsis of your credit history that is considered by lenders across India for evaluating a borrower’s creditworthiness before granting them any kind of loan, including a personal loan. If the financial requirement is of a small cash loan, an instant personal loan app can help whereas a high loan amount is a long-term loan that requires collateral.   

CIBIL is one of the top credit bureaus in India which provides credit information report for individuals and businesses. Your CIBIL score reflects your credit history, which is nothing but an indicator of your past repayment patterns. CIBIL score is normally in the range of 300 – 900. A CIBIL score between 700 – 900 is considered as an excellent score with 900 being the maximum limit. A borrower can certainly improve upon their CIBIL score and chances of getting potential loans in a quick and easy manner. It is wise to use the EMI calculator in instant loan apps.

A credit score reflects the financial well-being of the borrower. When you are comparing credit score results on two agency websites and the score appears slightly different, keep calm as it is completely normal. But it is good to compare your credit score on multiple scoring platforms while applying for personal loan online.

Personal loans are trusted for a variety of purposes. It is a versatile loan that can be used for travel, education, medical emergency, debt consolidation or managing repayment schedules of a gold loan. By taking a personal loan and repaying a gold loan on time can keep the borrower’s credit score stable.

Get clarity on the concepts of Credit score and CIBIL score when you are taking anew loan or applying for a personal loan for the first time. Universally, a Credit score or CIBIL score is a very important factor to consider when applying for a personal loan, credit card or home loan

A credit score is a 3-digit number and an essential aspect for a loan that reflects the creditworthiness of a borrower. Various credit bureaus such as The Credit bureau of India limited (CIBIL) evaluates and analyzes repayment history and sends credit reports to the lender

Paying off EMIs every month is a relief as you feel financially lighter when the loan ending tenure is near. There are times when making repayments on time can increase your credit score or show no change at all.

The personal loan being an unsecured loan does not demand any collateral or security against the loan. Instead, borrower’s CIBIL score is essential to check his/her creditworthiness

The loan is a necessity that an individual requires without having any complicated terms and conditions. Not every borrower is aware of what is a credit score. It rings like an alarm when you are informed that the credit score is low and the loan is rejected. When you have a low credit score, loan approval becomes difficult as financers

A company or an individual will check the financial background and repayment ability of the borrower, before approving the loan. A personal loan is an unsecured one that requires no security against the

Who doesn’t need extra money, whether in the form of savings or a personal loan! If you know to manage the funds correctly, nothing can stop you from achieving your goals. Nowadays, most people do all monetary transactions online. Hence, it is necessary to be cautious