You can check your CIBIL score for free from the best online credit bureau Transunion CIBIL. But why is CIBIL check necessary? The CIBIL check is needed because the banks and NBFCs before lending an amount to the individual know their credit history. And, if your CIBIL score is low then the bank and NBFC reject your loan or credit card application. Read the article given below to know free online CIBIL score benefits.
How is the free online CIBIL score generated?
To know your CIBIL score for free you need to create an account. Visit the Transunion CIBIL website to create an account and check your score. Just provide your details such as name, email, mobile number and PAN detail to the CIBIL account. Then enter the OTP sent to your registered number to complete the process. After creating your CIBIL account, you can check the free online CIBIL score. The score range from 300-900 and 700 is considered the ideal score for loan and credit card instant approval.
What if my CIBIL score is below 700?
If your score is below the ideal CIBIL score then you can follow the below mentioned pointers to improve your score.
- Check the dues: First you need to check your credit report to find out whether the reason for your low score is loan and card dues or, it’s just a technical error. Because, if the score is low due to the technical mistakes then you can remove errors from your report and improve your score without any hassle.
- Pay loan or card bills: You need to settle down the credit card and loan EMIs because they are affecting your credit status. And a bad credit status doesn’t make you eligible for a loan in the future. So first pay your previous loan and card debts before applying for a new loan or card to get their full benefits.
Advantage of free online CIBIL score check
One of the prior benefits of the free CIBIL check is that it provides you an accurate score without any charges. Usually, most of the credit bureaus charge a fee for the CIBIL check and credit report. But, CIBIL Transunion wouldn’t do that if you are the first time checking your score with CIBIL. Otherwise, you need to take the CIBIL subscription to further check your score. The subscription plans give you the benefit of a suitable loan and credit card offer according to your current score. And frequent alerts are sent to your mail when your CIBIL score starts reducing.
A free online CIBIL score service provides your credit score and if it meets the ideal score or above it. Some of the common benefits of a good CIBIL score is that you will get a low interest and high credit. Bank and NBFCs approve the loan of an individual at a low rate of interest if its credit report has zero dues and defaults. So don’t forget to check your free CIBIL score from the Transunion CIBIL whenever you apply for a loan or card from the bank or financial institution.