How To Know Your CIBIL Score For Free? - Loan Trivia


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Wednesday 16 September 2020

How To Know Your CIBIL Score For Free?


Financial institutions consider CIBIL score as one of the critical parameters to judge the loan repayment potential of borrowers. TransUnion CIBIL, also commonly known as CIBIL, is among the leading credit information companies in India, which rate the financial behaviour of individuals after scrutinising their credit history. 

The 3-digit score ranges from 300 to 900. If you do not possess a decent CIBIL score, your loan application faces a chance of rejection. Lenders usually ask for a high CIBIL score for personal loan approval, i.e., a minimum of 750.

How to calculate your CIBIL score for free?

TransUnion CIBIL hosts an online calculator on its official website, which individuals can make use of to learn about their credit history. Follow with the steps mentioned below to calculate your CIBIL score with such an online tool –

Step 1 - Visit the official website of CIBIL and navigate to the ‘Free Personal Score’ tab.

Step 2 - Next, you will be required to enter identification details such as name, address, contact information, PAN, etc.

Step 3 - Once you have filled in the above details, answer a few questions based on your previous credits. Make sure to answer it accurately as this step is an integral part of your  .

Step 4 - Finally, click on ‘Submit’ and your CIBIL score will be displayed shortly.

If your score surpasses the 750-mark, you will be able to avail most forms of credit, which include personal loans, business loans, etc. from leading financial institutions.

Individuals should keep a regular track of their CIBIL score at periodic intervals. That way, you can prepare for any necessary action required to help improve the rating in time so that you meet lender requirements concerning CIBIL score for personal loan and other such advances.

Must Read: Know The Procedure To Calculate Free Cibil Score

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