Free Cibil Score

The Credit Information Bureau (India) Ltd assigns CIBIL scores and CIBIL reports to individuals. A CIBIL score is a three-digit number. The score falls between 300 (lowest score) and 900 (highest score). The credit score depicts creditworthiness of the person. The credit bureau takes into account at least 6 months of financial data of a person to calculate his/her CIBIL score. The data is weighed across 258 variables, each with unique algorithm to analyze the credit journey of the person, before a CIBIL score is finalized.

Here is the weightage to major factors that comprise credit score calculation:

Payment History: 30%
Credit Type and Duration: 25%
Credit Exposure: 25%
Other Factors: 20%

Check Your Free CIBIL Score without Paying Any Fee

If you do not want to make a hard enquiry into your credit history, then there is no need to pay any fee to check your CIBIL Score.

You can check CIBIL Score on Samriddhi Finance absolutely free of cost.
The credit score is based on certain input parameters. You will get an estimated figure of your credit score and creditworthiness.
This will help you to know where you stand in terms of credit related transactions, and which type of loans you can apply for, and get approval.

Get CIBIL Score for FREE Without Impacting Your Credit Score

If you request for your own CIBIL report there is no negative impact on your credit score. It is considered as a soft check. Also, checking CIBIL score for FREE does not negatively impact your score. This way, you can check your credit score as many times you want to in a year. So if you want check CIBIL Score on your own request, or for free, then do not think twice, we are here to help you.

Only a hard check can have some impact on your CIBIL score. A hard check takes place when you apply for a credit card/loan, and your lender checks for your credit report or score. This is why you must not make too many loan applications at a time. Every lender will then check your credit report.

Credit Information Bureau (India) Ltd

The Credit Information Bureau (India) Ltd (CIBIL) sources financial data (such as credit card and loan information) of individuals from leading banks and financial institutions in India. This information is used to prepare credit report of the person. The individual is assigned a CIBIL score as per his/her credit behaviour. The financial data of the person reflects in the CIR (Credit Information Report), also known as CIBIL credit report.

CIBIL was established in the year 2000
It is authorized credit agency by the Reserve Bank of India (RBI).
This credit bureau is also backed by major global credit bureaus and agencies such as TransUnion International and Dun and Bradstreet.

CIBIL Score Range

A CIBIL score ranges between 300 and 900. People with CIBIL score of 750 and above are considered as responsible with loans and credit card payments. Check your Free CIBIL score on Samriddhi Finance today to know your latest credit score. Below-given is a detailed brief about different ranges of CIBIL scores.

NA/NH

If your CIBIL score shows as NA/NH, it means that you have no credit history. NA means ‘not applicable’ and NH means ‘no history’. This could be the case if you had never taken a loan or used a credit card. It is advisable to build your credit score by taking credit, either in form of a loan or credit card.

350 – 549

If your CIBIL score falls in between 350 and 549, then your credit score is considered as bad. It depicts that you have not paid EMI or/and credit card bills on time, turning into a defaulter. Thus, your creditworthiness takes a hit and the lender may not approve a loan for you.

550 – 649

If you have CIBIL score 550 to 649, then it is considered as a fair credit score. This score means you struggle to pay the dues on time. In such an instance, only few lenders may offer you credit. Even if a loan is approved, it may come with a higher rate of interest. If your credit score lies in this range, you need to take measures to improve it so as to get better deals on loans.

650 – 749

If your CIBIL score lies in between 650 and 749, it means that you are taking the required efforts to boost your credit score. If you continue with timely repayments and display good credit behaviour then gradually your CIBIL score will also increase. Banks and NBFCs may consider the prospect of giving you a loan. But, your credit score is still not high enough to bestow you with negotiation power for the best interest rates or terms on loans.

750 – 900

If you have CIBIL score between 750 and 900, then you are doing all the right things to win the trust of lenders. It means that you pay loan EMIs and credit cards bills on time. You have a clean track record regarding past and ongoing payments. An impressive payment history encourages banks and NBFCs to readily approve your loan. This is because a high CIBIL score ensures lenders that you may pay the dues on time and not turn into a defaulter. With such a credit score, you can expect the lowest interest rates, flexible terms and conditions on any loan offer.

Factors Responsible to Determine Your CIBIL Score

Track record of all the past repayments
Previous defaults, settlements, write-offs
Consistent payments makes you eligible for a higher score
Low loan balance suggest stable use of credit, thus lead to a higher credit score and vice-versa
Fewer unsecured loans with frequent payment history boosts the score
Delayed payments may give you a lower score
Too many loan enquiries at a time indicate that you are credit hungry, and this may impact your credit score
Negative impact on credit score is higher if you have recent write-offs or delayed payments
Multiple defaults and write-offs lead to a lower credit score

Tips to Have a Great CIBIL Score

An ideal CIBIL score that lenders look for is 750 and higher. It is important to have a high credit score when you apply for a credit card or loan. You should keep a track of your credit history from the start of the year. On Samriddhi Finance, you can find your current CIBIL Score for free. This will help you discipline your financial behaviour, enhance credit score, and in turn increase chances of getting a loan approved easily. Below-given are some of the tips to maintain a healthy CIBIL score:

Seek Variety in Loans: Your debt history should reflect a healthy combination of unsecured and secured loans. For instance, a loan against property is a secured debt, and a personal loan is an unsecured debt.
Pay All the Dues on Time: Be disciplined with loan repayments and credit card bills. Try to pay the credit card bills in full, than partial payments to keep the interest payout as low as possible.
Monitor Your Credit Score It is recommended to check your credit score regularly. This will help you know about your credit status. For this, you need not request for a hard enquiry, but check free CIBIL score instead by clicking on the link at the top of this page. This is a soft pull of your credit information and does not negatively impact your score.
Check Your Credit Report: While monitoring your credit score is advisable, at times, you should also check your credit report for errors. If you have not made too many credit enquiries at banks/NBFCs, you can request for a hard credit check at least once a year. If you find any error in the CIR that causes your score to lower, it is better to rectify the errors on time.