TransUnion CIBIL provides one free CIBIL Score and credit report per calendar year.
CIBIL Score is a numerical summary of your credit history
Photo Credit: Pexels/ Christina Morillo
We are all familiar with the term CIBIL Score. It is a three-digit number that represents an individual's creditworthiness, and it reflects their credit history and repayment behaviour. The CIBIL Score ranges from 300 to 900. A score closer to 900 shows high creditworthiness and a decent and responsible history of managing credit and repayments. Similarly, a low CIBIL score makes loan approval harder for you. So, knowing your CIBIL score is crucial when you are considering applying for a loan. This score helps banks and other financial institutions to assess an applicant's financial status and credit management pattern.
Knowing your CIBIL score will help you manage your credit health and identify errors in your credit report at regular intervals. It reflects past borrowing and repayment patterns of a user. Lenders assess this score to know the risk associated with offering credit to this user.
Here's how to check your CIBIL Score for free online.
The official CIBIL website, Transunioncibil.com, lets users check their CIBIL Score and credit report online for free once every calendar year. You can follow these steps to get started.
Additionally, users can check their CIBIL score through the BHIM app by entering their mobile number and MPIN. Third-party apps like Google Pay, Paytm, and Amazon Pay also let users check the score. Banking apps like SBI Yono also allow you to track your CIBIL score.
As mentioned, CIBIL allow you to check the free CIBIL Score per calendar year. If you have already accessed your free report for the current year, you may need to wait until the next calendar year to claim the next free annual report. A paid subscription is required to check the score again.
Your CIBIL Score can be important when applying for Personal loans, home loans and vehicle loans. A few lenders also consider your score when assessing your eligibility before approving a new credit card. Checking the CIBIL score will let you identify incorrect account details or unauthorised credit enquiries.
If your CIBIL Score is lower than expected, you can gradually improve it by paying EMIs and credit card bills on time, limiting credit applications, and maintaining a responsible credit history.
FAQs
Individual lenders have different eligibility criteria. CIBIL Scores range from 300 to 900, so a score above 700 is generally considered good.
Yes. TransUnion CIBIL provides one free CIBIL Score and credit report per calendar year via its website.
Yes, CIBIL Score can be accessed via third-party apps and websites, but their safety may vary.
Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.