CIBIL Score Improvement: Has your CIBIL score deteriorated? Improve it with these methods..

If you have ever taken a loan or actively used a credit card, then you must have heard about the CIBIL score. Through the CIBIL score, the bank or financial institution assesses the loan capacity of the borrower.

It can also be said that through the CIBIL score, the bank assesses whether the borrower will be able to repay the loan on time or not.

A correct CIBIL score is considered to be 750 or more. The higher the CIBIL score, the better it will be. Having a good CIBIL score helps you a lot in getting loans and credit cards. At the same time, you also get benefits while taking a loan.

CIBIL can be improved using many methods. Let's talk about them.

How to improve the CIBIL score?
Timely payment of loan and credit card bills - If you have taken any kind of loan. Or are you a credit card user? So keep in mind that the EMI is paid on time. Along with this, pay the credit card on time.

If you do not pay the credit card on time, then you have to pay a charge.

Along with this, keep in mind that do not use the full limit of the credit card. Only 30 percent of its limit should be used.

Avoid becoming a defaulter - If you have taken a loan with any family member, friend, or any other person. Then you should avoid becoming a defaulter in a joint loan. Because if the loan is not paid on time. Then you can suffer a big loss. At the same time, it can also affect the credit score.

Balance of secured and unsecured loans - Car and home loans are included in secured loans. At the same time, personal and credit are included in unsecured loans. You need to maintain a balance of both of these. This also affects the CIBIL score or credit score.

Therefore, it is important to keep all these things in mind while taking a loan.

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