You must have heard this burning question around you for numerous times – How can I check free CIBIL score online or how can I get my credit report for free? If you didn’t have an answer to such questions back then, do not worry a bit because we will be telling you about them in this article. First of all, you need to know about what is CIBIL Score? It is the mathematical 3-digit representation of your creditworthiness and financial behavior (how responsibly you pay your EMIs of a home loan or any credit facility). It ranges from a score of 300 to 900, where the more you’re near to 900 is considered to be best. Generally, anything above 700 is considered to be a good credit score among lenders in the market.
There are mainly four credit rating bureaus in our country – CIBIL, CRIF High Mark, Experian, and Equifax. All these agencies keep track of all your financial transactions and calculate your CIBIL score. Now that you have got the basic knowledge about it, you must want to know about how can you check the free CIBIL score of yours in an hassle-free manner. Keep reading to know about the process and also, how a good credit score helps you.
What are the important steps involved in the process of Checking the free CIBIL score?
So next time when someone asks you this question, “How to check CIBIL Score online for free?”, you can answer him by telling the easy steps mentioned below.
Step 1: Go to the official website of CIBIL.
Step 2: There, you will see ‘Get your CIBIL score now’ flashing on the screen. You will have to click on that banner.
Step 3: After clicking on that, you will redirect to a new page where you will have to fill a few personal details such as email address, name, date of birth, identification type and its number, Pincode, and mobile number.
Step 4: When you finish submitting the details mentioned in the previous steps, you will go to a new page where you will have to fill some financial details such as existing credit cards or loans (If any)
Step 5: As soon as you submit all these details, your CIBIL Score will be generated within a moment.
What are some of the benefits of having a good CIBIL score?
Now you’ve got the answer to your question of how to check CIBIL score, let me tell you what are some of the most amazing benefits that you can enjoy by having a good CIBIL score. First, let me tell you that, a good CIBIL score usually lies anything above the score of 700. Have a look at the benefits mentioned below.
- Lenders find you more trustworthy, hence you can get any kind of credit facility at a lower interest rate in comparison to the one who has a low CIBIL score.
- You can get top-class credit cards in the market purely because of your good credit score.
- If you want a higher loan amount, then lenders easily sanction your application based on your good credit history.
- It helps you in building an overall responsible behavior.