CIBIL Score 750+ Kaise Kare: The credit information bureau limited- CIBIL is maintaining the credit score of the customer which is very important while applying for personal loan or any other banking activities. However most of the customers are paying regularly EMI of their loan amount to the bank but after that there cibil score is continuously decreasing and facing challenges in banks. So if you are also one of them and want to maintain and increase the CIBIL score then you should check this article where we have not only mentioned the tips to increase CIBIL score but have also discussed the complete procedure to increase CIBIL score through online mode.
The CIBIL score is also known as credit score and helpful while applying for personal loan as it is an unsecured loan feature of the banks. The credit information bureau limited analyse the financial activities of the customer including timely paying EMI, due bills, frequency of applying personal loan, uses of credit limits etc. after that they prepare three digit cibil score from 300 to 900.
The score which is more than 750 is considered as a good CIBIL score and customers do not have to face any difficulty while applying for personal loan with this range of cibil score. However less than 750 such as 650 or 700 is also considered by financial companies but you may be charged higher intersects with low CIBIL score.
But if you have less than 600 or less than 500 then no bank will ready to allow you the loan amount and companies will also ask up to 38% interest on the loan amount. So it is important to maintain the cibil score, you can follow the following tips to maintain and increase CIBIL score by online activities.
Pay bills on time
Once if you have promised to return the loan amount within the specified monthly EMI then you should not delay to pay your bills. However banks will not charge any huge penalty on dealing your bills but they will report it to the bureau and it will automatically reduce your credit score. So it is important for everyone to prepare EMI according to their monthly salary and should not delay the EMI, you can also opt automatic detection of EMI per month in the bank so you will not need to maintain the deadline of paying your due bills.
Clear your credit debts
Credit cards are providing a guarantee to pay instant amount to their customers as a credit card debt. But you should not exceed the maximum limits of credit card as it will directly impact on your CIBIL score and bank will reduce your ranking on the system. However if you are maintaining more than one credit cards then you can follow debts snowball method where you can start from the debit card where you have a little debt.
Once you pay your all debts in any credit card then you can forward to the next credit card where you have to pay the more debt. So you can follow this sequence until you pay your all credit card debts. However this is long processor but will able to maintain your saving and will help you to pay your all debts one by one.
Check credit report
Whenever you apply for personal loan bank check your credit report from credit information bureau limited. But you have to pay the specific charges to know your credit report. But Reserve Bank of India have recently issued on notification to all companies and banks who are engage in financial activities to provide credit reports to their customers free of course at one time in a year.
So you can also apply for CIBIL score report in your bank application and after that can check your all banking activities which are impacting on your CIBIL score. After that you can correct them and maintain the report accordingly.
Don’t apply for personal loan continuously
Personal loans are provided by the banks and financial companies at any emergency or financial issue. So if you are capable to return the loan amount with EMI then you can apply for multiple loans, but if you are cibil score is already low then you should not apply personal loan again after completing the previous loan EMI. Once you return the loan amount you should wait for few months to apply for new loan amount so it will not impact your cibil score and bank will also provide the loan amount accordingly.
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