What is the Average CIBIL Score Update Time?

  • Published on: 25 Jan 2024
What is the Average CIBIL Score Update Time?

Your CIBIL score update time relies on many factors, including your latest credit activities and the time lenders take to report your transactions to credit bureaus. Before applying for any type of credit, consider these crucial pointers:

  • Check your latest credit score and quote that when availing of a loan
  • Review your score regularly to ensure it gets reflected accurately once you make loan or credit card bill payments

Read on for a brief overview of why you need a good CIBIL score, when credit score is updated and more.  

What is the Significance of a Good CIBIL Score? 

A credit score is a three-digit numerical representation of your credit behaviour varying between 300 and 900. To understand the importance of a good score, remember the cardinal rule:

  • The higher the score, the better your loan approval chances

When your score is optimal, your trustworthiness as a borrower increases. Apart from that, here are other benefits of maintaining a good score:

  • Reduces the lender’s risk parameter, allowing you to get quick loan and credit card approvals
  • Lets you enjoy credit on favourable terms, such as lower interest rates, longer tenure options and much more
  • Helps you negotiate better with lenders

While most lenders prefer a score above 750, this criterion varies from one lender to another. Some financial institutions may sanction loans even if your score is around 700. Here’s a tabular view of the credit score range, with each rating signifying your borrowing capability:

Score Approval Probability 
750 – 900Very High
700 – 749High 
699 – 650Average 
649 – 600Low 
599 – 300Very Low

When Does the CIBIL Score Get Updated? 

The frequency of your credit score getting updated depends on how often lenders share your credit information with the credit bureaus. The Credit Information Bureau India Limited, or CIBIL, gathers information from various lenders and credit issuers once a month to generate your CIBIL Score.   

In such cases, a CIBIL score update time can vary between 30 and 45 days if there are no other discrepancies. In addition, credit bureaus update your score under two circumstances: 

  1. You’ve made a payment towards your debt 
  2. You’ve raised a dispute against your CIBIL report 

Also Read: Check Cibil Score With a Pan Card

Why Has Your CIBIL Score Not Been Updated?

There may be some rare instances when your score will not get updated even after the usual CIBIL score update time period of 45 days. In such conditions, contact your lender and ask them to forward the recent information on your repayment. 

If this does not lead to any change in your score, you can raise a dispute on the TransUnion CIBIL website. Usually, CIBIL recommends waiting for 2 months before filing a dispute. Here are some other factors that may cause a delay in your credit score update:

  • Lack of credit activities such as no new loan application, delayed repayment, limited credit card usage
  • Delay in reporting from your bank or credit card issuer 
  • Inaccuracies or discrepancies in your credit report  
  • Suspected fraudulent activities or theft can suspend any updation on your credit score
  • Changes in credit bureau policies

How Do You Check Your CIBIL Score 

Annually, you can get one free credit report with your score, for which you must follow these steps. 

  • Step 1: Visit the TransUnion CIBIL website
  • Step 2: Click on ‘Get Your Free CIBIL Score’
  • Step 3: Enter the required details on the form 
  • Step 4: Click on ‘Accept and continue’

That’s all and you can review your CIBIL report and score instantly!

Following these steps, you can easily check when CIBIL score gets updated and apply for a personal loan online accordingly. However, even if you are new to credit, you can apply for an Instant Personal Loan to get up to ₹5 lakhs hassle free. 

At Fibe, we rely on an alternative scoring mechanism to check your loan eligibility. Moreover, you also get to enjoy other hosts of benefits such as minimum documentation requirements, affordable interest rates, convenient tenure options and much more. Download our Personal Loan App or register on our website to get started today! 

FAQs on Updating CIBIL Score

How long does it take for the CIBIL score to update?

The timeline ranges between 30 days and 45 days. Remember, this time is based on when financial institutions submit your credit report to TransUnion CIBIL. So, knowing when does the CIBIL score get updated is crucial as it helps you apply for credit at the right time. 

How can I update my CIBIL score quickly?

Frequent credit activities are one of the most common ways you can reduce your CIBIL score update time. 

How can I remove fake loans from CIBIL?

All you have to do is follow this process:

  • Visit the TransUnion CIBIL website
  • Click on ‘Dispute Resolution’
  • Understand the process mentioned in the ‘Consumer Dispute Resolution’ tab
  • File a dispute after logging in with your credentials

Does CIBIL update scores daily?

No, you’re the time taken for your score to get updated can range anywhere from 30 to 45 days. You can file for a dispute if your score update is due for more than 2 months.

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