795 CIBIL Score

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

795 CIBIL Score - Is it good or bad?

A 795 CIBIL Score is excellent. It demonstrates responsible credit behaviour and a strong financial history. Lenders view you as a low-risk borrower, increasing your chances of receiving loan and credit card approvals with favourable terms. With this score, you are likely to qualify for premium financial products, lower interest rates, and higher credit limits, providing access to top-tier financial opportunities.

How to improve your 795 CIBIL Score?

To improve a 795 CIBIL score, continue practising disciplined financial habits. Pay off all dues on time and keep your credit utilisation ratio below 30%. Avoid frequent loan and credit card applications, as this can affect your score. Regularly review your credit report to ensure there are no errors or discrepancies that could impact your score negatively.

How does a 795 CIBIL Score impact interest rates?

A 795 CIBIL score allows you to access the most competitive interest rates on loans and credit cards. Lenders see you as a very low-risk borrower, offering you lower interest rates and better loan terms. This score helps you secure attractive loan products with reduced borrowing costs, making it easier to manage repayments and save on interest.

Frequently asked questions

Is 795 CIBIL score good?
Yes, a 795 CIBIL score is excellent. It reflects strong financial responsibility, making you a low-risk borrower. You are likely to receive loans and credit cards with favourable terms, such as lower interest rates and higher credit limits.

Is 795 credit score bad?
No, a 795 credit score is not bad. It is an excellent score that reflects disciplined credit management. With this score, lenders will offer you loans and credit cards with competitive interest rates and terms.

Can I get a credit card with 795?
Yes, with a 795 credit score, you can easily qualify for a credit card. This score grants you access to a wide range of premium credit cards with rewards, cashback, and low-interest rates. You may also receive exclusive offers from card providers.

Is 795 credit score needed for a loan?

A credit score of 795 is not strictly needed for a loan, but it significantly improves your chances of approval and secures better interest rates and terms. Lenders often consider scores above 700 as favourable.

How much can you finance with a 795 credit score?

The amount you can finance with a 795 credit score depends on various factors including your income, debt-to-income ratio, and the lender's specific policies. However, an excellent credit score like 795 can help you qualify for higher loan amounts and more favourable terms.

What is the lowest CIBIL score for a personal loan?

The minimum CIBIL score required for a personal loan varies among lenders. Generally, a score above 600 is considered acceptable, but a higher score increases your chances of approval and better interest rates. Some lenders may have specific requirements, so it's best to check with individual lenders.

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