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Get Your Credit Health Report From Bajaj Finserv To Assess Your Financial Fitness

  • Highlights

  • Monitoring your credit health is essential before you apply for a loan

  • Bajaj Finserv’s in-depth credit analysis helps you manage your financial fitness

  • Get insights on your past credit behaviour and tips to keep your CIBIL score over 750

Whether during emergencies when you or a family member requires medical treatment, or during a cash crunch due to job instability or a business slump, getting quick access to funds helps you honour your obligations and commitments. While it has become increasingly easy to get a personal loan online due to fintech advancements, its approval hinges on your credit health. Credit monitoring is thus key to understanding where you stand and how your credit profile appears to lenders.

You can check your credit score online using search terms like ‘find my CIBIL score’ or even get it for free from Bajaj Finserv by filling a short form. However, this is just the first step. Doing a thorough CIBIL score analysis and CIBIL report analysis helps you to understand your past and present behaviour with credit and take the right steps for future financial fitness. After all, a good credit score not only helps you get loans faster, but also more affordably.

Additional Read: How Is Your CIBIL Score Calculated?

The good news is that you can now get a credit analysis report from Bajaj Finserv tailored to your credit profile. Called the Credit Health Report, this document has an in-depth evaluation of the factors that impact your credit score recommendations to improve or maintain your score and personalised offers based on your current credit health. While its original price is Rs.599, you can get it at just Rs.199 for a limited time only, and take charge of your financial health proactively!

To know more about the importance of your credit score and how the Bajaj Finserv Credit Health Report helps you to strengthen your credit profile, read on.

What is Credit Score?

Your credit score, also called CIBIL score, is a 3-digit score between 300 and 900 that summarises your financial history and represents your creditworthiness. It takes into account your experience with debt, be it loans or credit cards, and your timeliness with repayment. All these details are captured in your credit report, which you can also check online.

Additional Read: Where to check your CIBIL score

Why Do Lenders Consider the Credit Health of Borrowers?

Lenders always check your credit score before they approve your loan via credit monitoring services like CIBIL, Experian, or CRIF Highmark. However, CIBIL is considered the best credit monitoring service by lenders, and thus your credit score is usually referred to as your CIBIL score. Checking your credit score helps lenders assess the risk you pose as a borrower and thus take a decision regarding approving your loan application or not. While there are many factors that affect personal loan approval, such as your income, age and employment, your CIBIL score is one of the most important.

While a high CIBIL score helps lenders offer a loan to you at competitive terms, a low score may result in you getting a lower loan amount or a higher interest rate. Usually, a score of 700 or 750 and higher will help you get an affordable loan. Thus, it is essential that you keep an eye on your credit health yourself by checking your credit score and doing a simple CIBIL score analysis or credit rating analysis.

How to Maintain a Healthy Credit Score?

To boost or maintain good credit score, you can do the following:

  • Borrow a mix of credit, such as collateral-free loans and secure loans

  • Maintain credit cards for a long period instead of changing them regularly

  • Don’t use up your entire credit card limit every month

  • Pay your EMIs and credit card bills on time

  • Maintain a low debt to income ratio

  • Don’t apply for several loans simultaneously

What is the Bajaj Finserv Credit Health Report and How Does it Help?

In order to assess your credit health easily and help you in your credit monitoring activities, Bajaj Finserv is now offering a Credit Health Report. For a limited time, it is available at an affordable one-time cost of ₹ 199, and makes CIBIL score analysis stress-free and fast! This personalised report contains the following:

  • Factors affecting your credit score

  • Tailored recommendations to increase or maintain your credit score

  • Personalised offers to suit your credit profile

All in all, the Credit Health Report gives an overview of your credit standing so that you can understand the reasons behind your current credit score and improve it. The added benefit of tailored offers also helps you borrow safely, smartly and affordably whenever you require credit. To take charge of your credit health, get your Credit Health Report today!

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