What is credit score. When is it created

Your CIBIL Score is a measure of your creditworthiness. Know more about how the score is calculated.
What is credit score. When is it created
5 min read
28 Sep 2022

You will need to know your CIBIL Score if you are looking for a loan or a credit card. Here, your CIBIL Score indicates your repayment abilities during your application process.

What is a CIBIL Score?

Your CIBIL Score is a three-digit number ranging from 300 to 900 that shows your ability to repay a loan. A high score can help you get loans faster and at better rates. Most banks and non-banks need a minimum credit score of 750 for your loan approval.

Who creates your CIBIL Score?

TransUnion CIBIL is one of India's leading credit information companies. CIBIL gets your credit information from banks, non-bank financial companies, and other financial institutions. This information includes your existing loan details, credit card details, and more. Based on this information, CIBIL gives you a credit score and maintains a Credit Information Report (CIR).

When does TransUnion CIBIL create your credit score?

Your CIBIL Score gets generated whenever there is an activity in your credit profile. Some of the activities include:

  • Request for a loan
  • Pay your EMI or fail to pay your EMI
  • Apply for a credit card
  • Pay or do not pay your credit card dues
  • Use the maximum limit on your credit card
  • Use your overdraft facility with the bank

Where can I check my CIBIL Score?

Here is an easy way to check your CIBIL Score in 2 minutes:

  • Click on the ‘Check your CIBIL Score for free’ button on this page
  • Enter your basic details including your name, employment type, and PAN
  • Submit a few more details such as your date of birth and net monthly salary
  • Enter your 10-digit mobile number and verify the OTP

Once you complete this, you will see your CIBIL Score displayed on the screen.

That’s not all. You can get a detailed analysis of your loans, repayments, and more with the Credit Health Report (CHR).

Check your CIBIL Score for free

What is a Credit Health Report (CHR)?

Your CHR offers a detailed overview of the following:

  • Credit score
  • Account summary
  • Missed or delayed EMIs
  • Tips to improve your financial health
  • Personalised offers on loans, credit cards and more

Check Score

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