CIBIL Score Tips: This is how your CIBIL score will reach beyond 800 within a week, this trick will be useful..
Sumit Kumar, living in Mumbai, passed the SSC exam in 2021 and joined a government job at a good salary. Two years passed since he started working and Sumit also collected some money. He thought of buying an SUV this time on Navratri. For this, Sumit had the money for a down payment (bank loan), but for the remaining payment, he needed an auto loan. Sumit thought that if he had a government job, the bank would give him a loan immediately. When Sumit reached the bank, he was stunned to learn the rules (bank loan rules).
If you want any loan from the bank, it is important to have a better CIBIL score (CIBil score kaise badhaye). CIBIL score starts when you take a loan or at least use a credit card. Now Sumit's problem was that he neither took a loan nor used a credit card. Due to this his credit score also remained zero and banks refused to give him loans. This means that despite having a permanent government job, Sumit did not get a loan and his dream of buying a car remained unfulfilled.
Facing credit score problems
This problem is not faced by Sumit alone but by thousands of consumers. Be it freshers starting jobs in multinational companies or entrepreneurs earning lakhs from business. If no loan or credit card is taken, then they also have to face the problem of credit score in getting a new loan. Now the question arises what is the easiest and best solution to such a problem you have faced? The most difficult thing is a personal loan.
Credit score of more than 750 points
If, like Sumit, you too are facing problems with your credit score and want to increase your credit score quickly (credit score badhane ki tips), then what to do? Gyan Dwivedi, Assistant Manager, Bank of Baroda, says that the easiest way to do this is to get two FDs (fixed deposits) of Rs 10,000 each. Then take a loan under overdraft (OD) against that FD itself. After this, your credit score will be updated in just a week or two. Generally, this credit score will be more than 750 points and you will get the loan easily.
Very effective for a personal loan
Gyan Dwivedi said that this jugaad (how to get a loan) is very useful for those taking personal loans for the first time. A personal loan is considered unsecured, hence banks are very cautious regarding it. This is the reason why banks will not give you a personal loan without a good credit score (the bank demands a credit score). In such a situation, if there is zero credit score then the loan will not be available at all. For such customers, increasing credit scores through OD on FD (CIBIL Score) can be very beneficial.
Follow our Whatsapp Channel for latest update