Financial Advice What is CIBIL Score?
What is Sibil Score?

CIBIL score CIBIL score
'Cibil Score' is the name most heard by credit card users / borrowers.

What is Sybil?
CIBIL is a company that rates credit card users, borrowers (auto, personal, home loans) based on how they maintain their accounts.

This rating system is called CIBIL (Credit Information Bureau (India) Limited) score.

1. How is it evaluated?
Banks and financial institutions will register their customer credit details with CIBIL once a month or once every 60 days as per RBI instructions.

The CIBIL score is estimated based on these details.

Extra marks are given to those who pay on time without late fee and less marks to those who do not pay regularly.

2. What are the scoring details?
300 to 900. If you score more than 750, you will have no problem getting a loan. If the score is lower than this, the banks will consider giving the loan or the interest will be higher.

A credit card payment, credit score of approximately 800 – 850 for those with regular debt.

36 months history (transaction) will be taken into account.

3. What details are included in the CIBIL score?
Monthly loan details, when did you borrow? when did you finish Which bank did you get the loan from? At which address did you get the loan? Loan amount, repayment period.

There will be PAN card, ID card details, address, mobile number.

4. How to Check Sibil Score?
It can be viewed once a year for free on the CIBIL website. Not sure if they are paying for new accounts now.

5. Will the score decrease if you watch more often?
It will not decrease if we see it, but it will decrease when the banks see it after applying for a loan. Reason implies that we need money.

Therefore, multiple credit/loan applications should not be made at the same time.

If the bank rejects the loan application, you should try after a few months instead of trying immediately.

6. Will there be wrong details in the Sibling?
Yes.

It is possible that payment has been made correctly but not paid. It can only be corrected by telling the bank, CIBIL will not change it.

Hence, even wrong information can lead to low scores.

7. Can Sybil be viewed only on the website?
No.

Now various companies like CIBIL have come up but there are minor changes in the evaluation method.