What is the best way to increase my CIBIL score to get loans?
A credit score plays an important role when you submit an application for that loan. Banks and NBFCs will certainly check your credit score to find out your creditworthiness. Listed here are few techniques to enhance your credit score:
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Making payments on time: Your payment history makes up 35% of a credit rating. Hence, paying your dues on time will increase your score rapidly.
Maintain an extended credit history: In general, a lengthier credit rating is better and may have a positive effect on your score. This can be since it shows how well you have managed your credit accounts so far.
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Have a good credit mix: Managing and maintaining a wide range of account properly can help you raise your credit rating.
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Look for discrepancies on the credit report: Sometimes your credit file may contain information that is wrong delayed reporting provided to CIBIL. This may lower your credit score down. So, it is wise to look at your credit history at the very least every six months.