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How is Your CIBIL Score Calculated in India?

The CIBIL score is a credit score that is calculated by a combination of your credit history, payment behavior and the type of loan you have applied for. The score changes over time as you pay for credit using cash or other types of credit.<br><br>For more information visit here: https://www.pnbhousing.com/blog/what-is-cibil-score/<br><br>

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How is Your CIBIL Score Calculated in India?

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  1. How is Your CIBIL Score Calculated in India? A CIBIL score cannot be fixed. Individual credit scores fluctuate based on credit history and performance. It is affected by 4 factors: 1. Payment History A person's CIBIL score drops if they fail to make regular loan payments and EMIs on time. 2. Credit Mix The CIBIL score will remain positive if the applicant has a balanced mix of secured and unsecured loans. Unsecured loans include loans like credit card debt, personal loans, and home loans. Credit Mix 3. Loan Enquiries Multiple rejections on your credit report can negatively affect your credit score. An individual whose debt burden has recently increased due to multiple loans will negatively impact their credit rating and be cautioned against obtaining future loans. 4.Credit Utilization A high credit card balance usage negatively impacts a person's credit score, as it indicates the amount of debt the holder carries. REFFERAL URL https://en.wikipedia.org/wiki/Loan https://www.pnbhousing.com/blog/what-is- cibil-score/

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