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Understanding the features of CRIF vs CIBIL is essential if you are planning to get a loan. CRIF and CIBIL are both credit bureaus that generate your credit report, which includes your credit score and other factors related to your creditworthiness. Whenever you apply for credit, lenders check these reports and scores to assess the …
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Having an accurate credit report is very important for maintaining a healthy credit score and getting easy access to loans and credit cards. Lenders rely on your CRIF High Mark credit report to assess how you manage credit. Even small errors can affect approvals or delay your application. Which is exactly why checking your report …
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For lenders, credit repayment history and creditworthiness are two of the most crucial factors when deciding on your loan approval. A borrower’s credit report reflects these factors, which lenders can access through the control number in CIBIL. Also called the ECN number, it is used by lenders to catalogue your credit details. To know what …
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DPD in CIBIL stands for Days Past Due. It shows how many days you delayed paying a loan EMI or credit card bill after the due date. In simple terms, DPD in CIBIL means your month-wise repayment behaviour and lenders use it to understand whether you repay credit on time. If your DPD value is ‘000’, it means you paid on time. If it …
A credit score is one of the first measures a lender considers when you’re applying for a loan in India. It’s this information helps the banks and lending institutions evaluate any individual’s creditworthiness and repayment ability while applying for a loan. So, does it mean that people without credit scores aren’t eligible for a loan? …
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Maintaining a strong credit score is crucial as lenders consider it an important element while extending credit. Why? Well, it provides important insights into your overall financial profile and ability to handle credit. In case you have a low credit score, enhancing it is crucial to get access to various credit opportunities. Here are more …
Credit scores, commonly called CIBIL scores, [Credit Information Bureau (India) Limited] are a crucial parameter that lenders evaluate before approving personal loans and credit cards. As per the RBI’s mandate, all banks should check the CIBIL score of every loan/credit card applicant at the time of evaluation. A poor CIBIL score reflects poor credit management …
Continue reading “How to Improve Your Credit Score In 5 Easy Steps?”