FAQs

In this section you will find answers to frequently asked questions on life, health, travel and home insurance, savings, loans, mortgages and personal finance.

Loans and Cards (1)

Credit Information Bureau of India limited (CIBIL) maintains a history of India’s commercial and consumer borrowers. Lending Banks will usually check with CIBIL for a borrower’s credit history – a ‘Credit Information Report’ (CIR). CIBIL audits your records and grants points on a scale of 100 to 999 which are called your ‘CIBIL Score’. The bigger the number, the better it is for you, which implies that you have not made any defaults in your past credit payments and have not missed any EMIs and thus have a good credit record. The CIBIL Score impacts your loan application processing to a great extent. If you have a higher score, there are chances that the lender will not only process your application faster than usual, but also might provide you with a slightly better interest rate. And in some cases, the extra charges levied during the loan processing or even later, like processing fee, prepayment charges etc might be reduced or completely written off. But if you have a low CIBIL score, if your application is not rejected out-right, you might end up paying a higher rate of interest and the terms and conditions lay down for you might be more strict than usual. To know more about CIBIL and its processes click here.

Category: Personal Loans

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Personal Loans (1)

Credit Information Bureau of India limited (CIBIL) maintains a history of India’s commercial and consumer borrowers. Lending Banks will usually check with CIBIL for a borrower’s credit history – a ‘Credit Information Report’ (CIR). CIBIL audits your records and grants points on a scale of 100 to 999 which are called your ‘CIBIL Score’. The bigger the number, the better it is for you, which implies that you have not made any defaults in your past credit payments and have not missed any EMIs and thus have a good credit record. The CIBIL Score impacts your loan application processing to a great extent. If you have a higher score, there are chances that the lender will not only process your application faster than usual, but also might provide you with a slightly better interest rate. And in some cases, the extra charges levied during the loan processing or even later, like processing fee, prepayment charges etc might be reduced or completely written off. But if you have a low CIBIL score, if your application is not rejected out-right, you might end up paying a higher rate of interest and the terms and conditions lay down for you might be more strict than usual. To know more about CIBIL and its processes click here.

Category: Personal Loans

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This site uses Akismet to reduce spam. Learn how your comment data is processed.

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