CIBIL Score
Three-digit credit score (300-900) from TransUnion CIBIL — banks use it as the first filter for loan and credit card approval. Above 750 is good.
Definition
CIBIL score is the most widely used credit score in India, ranging 300-900. It is calculated from your credit history — payment timeliness, credit utilisation, credit mix, age of accounts, and recent inquiries. Banks typically require 700+ for personal loans, 750+ for home loans at best rates, and 800+ for premium credit cards.
Late payments, high utilisation (above 30% of limit), and frequent loan/card applications hurt the score. Long uninterrupted history with on-time payments builds it. You can check your score free once a year on cibil.com (and now monthly via several apps).
Example
CIBIL 750+ → home loan at 8.5-9%. CIBIL 700-749 → 9-10%. CIBIL below 700 → 10-13% or rejection. On a ₹50L loan over 20 years, 1% rate difference = ₹6-7 lakh extra interest.
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