650 CIBIL Score

650 CIBIL Score

Simple tips to improve your CIBIL Score and secure better financial options. Check your eligibility for personal loan with your phone and OTP - no branch visit needed.
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Rs. 40000 - Rs. 55 lakh

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650 CIBIL Score - Is it good or bad?

A 650 CIBIL Score is categorised as fair, slightly below the threshold for good creditworthiness. It reflects moderate financial risk, suggesting irregular payments or higher credit utilisation. While borrowers with this score can qualify for loans or credit cards, lenders may impose higher interest rates or stricter terms. A 650 score limits access to premium financial products and signals the need for better financial discipline. By improving repayment habits, reducing credit utilisation, and monitoring credit reports, borrowers can work towards achieving a higher score. A better score ensures access to loans and credit cards with competitive terms.



✅  Check your eligibility for personal loan with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

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How to improve your 650 CIBIL Score?

Improving a 650 CIBIL Score requires consistent financial discipline. Start by ensuring all loan EMIs and credit card bills are paid on time, as timely payments improve credit scores. Keep your credit utilisation ratio under 30% of your credit limit to demonstrate responsible credit management. Avoid frequent loan or credit card applications, as multiple inquiries may negatively impact your score. Regularly review your CIBIL report to identify and rectify any discrepancies. Maintain a healthy mix of secured and unsecured credit. With disciplined efforts and patience, you can steadily improve your credit score and access better financial opportunities.

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How does a 650 CIBIL Score impact interest rates?

A 650 CIBIL Score can result in higher interest rates on loans or credit products. Lenders consider borrowers with this score as moderately risky, leading to less favourable terms.While borrowers with excellent scores may secure loans at personal loan interest rates as low as 10%, those with a 650 score might face rates exceeding. Higher rates increase the cost of borrowing, making repayments more expensive. Improving your credit score through timely payments and reduced credit utilisation can help secure loans with lower interest rates, resulting in significant financial savings over time.

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce Charges” shall mean charges levied on each instance in the event of: (i) dishonour of any payment instrument irrespective of whether the customer subsequently makes the payment through an alternate mode or channel on the same day; and/or (ii) non-payment of instalment(s) on their respective due dates where any payment instrument is not registered/furnished; and/or (iii) rejection or failure of mandate registration by the customer’s bank.

Part-prepayment charges

Full Pre-payment:

• Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
• Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) of the Dropline limit as per the repayment schedule as on the date of full prepayment.
• Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the Dropline limit as per the repayment schedule as on the date of full prepayment.

Part-prepayment

• Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-
• Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.472% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000