660 CIBIL Score

660 CIBIL Score - Simple tips to improve and secure better financial options.
CHECK SCORE
660 CIBIL Score
CHECK SCORE
3 mins read
27-Nov-2024

660 CIBIL Score - Is it good or bad?

A 660 CIBIL Score is considered fair, but it falls below the ideal range for easy access to credit. While it is not poor, it may limit your ability to secure loans or credit cards at favourable terms. Lenders may view it as a moderate risk, leading to higher interest rates and stricter eligibility criteria.

How to improve your 660 CIBIL Score?

To improve a 660 CIBIL score, focus on timely bill payments and clearing outstanding debts. Reducing your credit utilisation ratio by keeping balances low on credit cards can help. Additionally, diversifying your credit portfolio by responsibly managing a mix of loans can positively impact your score. Regularly monitoring your credit report is also essential.

How does a 660 CIBIL Score impact interest rates?

A 660 CIBIL score typically results in higher interest rates on loans and credit cards. Lenders view individuals with this score as moderate risk, which means they are less likely to offer competitive rates. Borrowers may still obtain credit, but at a costlier rate compared to individuals with higher credit scores above 750, considered good or excellent.

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

Is 660 CIBIL score good?
A 660 CIBIL score is considered fair but not ideal. While you may still qualify for credit products, lenders might view you as a moderate risk, resulting in higher interest rates or stricter eligibility criteria. Improving your score can help you access better financial opportunities and more favourable loan terms.

Is 660 credit score bad?
A 660 credit score is not considered bad but falls into the fair category. It suggests some credit risk, which could limit your ability to secure loans at lower interest rates. Lenders may offer credit, but with less favourable terms compared to individuals with higher credit scores, which are viewed more positively.

Can I get a credit card with 660?
Yes, you can get a credit card with a 660 CIBIL score, but your options may be limited to cards with higher interest rates and lower credit limits. Lenders may view you as a moderate risk, so they may not offer premium cards or those with the best rewards programmes.

Is 660 credit score needed for a loan?

A credit score of 660 is considered fair, and while it may not guarantee loan approval, it can increase your chances. Lenders may offer loans with higher interest rates or stricter terms for borrowers with lower credit scores.

How much can you finance with a 660 credit score?

The amount you can finance with a 660 credit score depends on various factors like income, employment stability, existing debts, and lender's specific policies. While a 660 score might limit your options, you can still secure a loan, although the loan amount and interest rates may vary.

What is the lowest CIBIL score for a personal loan?

There's no definitive lowest CIBIL score for a personal loan. However, lenders generally prefer a score above 650 for favourable terms. A lower score might still qualify you for a loan, but with higher interest rates and stricter eligibility criteria.

Show More Show Less

Related videos