All about Credit Score in India


CIBIL, Equifax, Experian and CRIF Credit Information

Credit Score is an important data for a person who wants to avail loan from Bank. This score range from 300 to 900 points. Higher the score is better for a person. Person with higher score has more power to negotiate with Bank to get lowest interest rate.

A credit score is a 3-digit numerical value assigned to you by lenders to determine the level of risk involved in lending you money.

CIBIL Credit Score in India

Credit Score (300 to 900 points)

Credit Score is not related with how much money you have.

Its related with how discipline you are with respect to spending money.

High score indicates that you are more discipline on paying your bills, debit etc.

Like teachers appreciate students with high score; Financial institutions appreciate to give loans to persons with high credit score.

How to know Credit Score

In India credit score information is managed by 4 companies (as on 2020)

  1. CIBIL | Credit Information Bureau (India) Limited
  2. Equifax | Equifax Credit Information Services Private Limited
  3. Experian | Experian Credit Information Company of India Private Limited
  4. CRIF | CRIF High Mark Credit Information Services Private Limited

How the Credit Score is calculated

Your credit score is calculated based on the below factors

  1. Payment History
  2. Outstanding debt
  3. Length of Credit History
  4. Credit Mix
  5. Credit Utilization Ration