CIBIL Score Check - Step by Step

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Run a CIBIL Score Check Online and check your loan eligibility

Key Takeaways

• CIBIL Score is a 3-digit numeric indicator of your credit health.
• You can run a CIBIL score check on the CIBIL website.
• CIBIL Score ranges from 300 to 900.
• You must provide your email ID and create a password as your CIBIL login credentials.
• A CIBIL score exceeding 600 is deemed good and can help you procure loans easily.

Whether you want to plan your dream wedding or buy the latest gadgets, financing it from your savings would be fatuous. This is where a personalised loan can come in handy. A Personal Loan comes with flexible tenures of repayment and is generally paperless. It is approved quickly, and banks disburse funds speedily. Plus, you do not have to pledge any collateral. So, on what basis do lenders grant a Personal Loan? Essentially, the lender runs a CIBIL score check. Let us learn more about the CIBIL score in this article.

CIBIL Score – Definition

The Credit Information Bureau India Limited (CIBIL) is the most renowned credit information company licensed by the Reserve Bank of India. The CIBIL or credit score is essentially a 3-digit numeric indicator that measures your credit history. The credit score ranges between 300 and 900 and is based on your previous repayment of loan and credit card dues. Your lender/bank provides your credit details to CIBIL that displays the details in the form of a numeric score. Before you apply for a loan, you must conduct a CIBIL score check online by following some simple steps as mentioned below.

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How To Check CIBIL Score

Before running a CIBIL score check, you need to create your account on the CIBIL website by following the steps below.

1. Visit the CIBIL website and click on 'get your free CIBIL score'.
2. Fill in all your personal information, including your email ID and mobile number, in the form displayed on the website.
3. Enter your email ID and create a password. These will be the credentials for future logins.
4. Under the 'ID Type' dropdown, select your preferred ID (PAN Card/Passport/Voter ID/Driving License/Ration Card) and enter the identification number in the 'ID Number' field.
5. Accept the Terms and Conditions and enter the One-Time Password (OTP) sent on your email ID to complete the CIBIL authentication process.

How to Check CIBIL Score After Account Creation

1. Login on the CIBIL website with your username and password and click on 'get your free CIBIL score' on the home page.
2. Enter your name, age, income, etc., in the relevant tabs.
3. Click on CIBIL score check for free to view your CIBIL score.

You can also opt for paid CIBIL check paid plans.

CIBIL Score Facts

• CIBIL score plays a crucial role when you apply for a loan.
• Higher CIBIL scores translate to lower interest rates on loans.
• You can build CIBIL scores by repaying loans and credit card bills on time
• CIBIL scores of 600+ result in quicker loan approvals
• You can improve CIBIL score by limiting credit utilisation limits and reducing your debt systematically

Conclusion

So, remember to conduct a CIBIL score check online before applying for loans. You can easily find out your credit score online on the CIBIL website. You can check your CIBIL score for free the first time and then select your preferred payment plan.

Download the digibank mobile app on your smartphone. Launch the app and click on the "Get Personal Loan" link on the login page. Also, open your savings account with us.

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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.