What importance does CIBIL Score Hold in availing any kind of credit facility?
Everybody needs a credit facility in some part of their lives. It can be of any type and form - Credit card, personal loan, Vehicle Loan, Home Loan, etc. In order to take any kind of credit, the lenders ensure that the borrower will be able to repay the loan within the defined time frame. Because itu2019s important for the borrower to make sure of this fact, otherwise it would risk the credited amount. So what is one factor through which lenders ensure this? The answer would be the CIBIL score. With this score, a lender checks whether an individual is fit enough to give the loan or not.
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