8 tips to improve your CIBIL Score

1. Check your credit report: Begin by obtaining a copy of your credit report from the credit bureau. Review it carefully for errors or discrepancies.
2. Timely payments: Make sure to pay your existing debts, such as credit card dues, EMIs, and bills, on time. Consistent, on-time payments are among the most significant factors influencing your credit score.
3. Reduce credit utilization: Keep your credit card balance below 30% of your credit limit. High credit utilization can negatively impact your credit score.
4. Diversify credit: A healthy mix of secured and unsecured credit can positively affect your score. Consider maintaining a variety of credit types, including credit cards, loans, and other credit options.
5. Avoid frequent credit applications: Limit the number of credit applications you make. Frequent inquiries may indicate financial stress and can lower your credit score.
6. Credit settlements: If you have settled your loans or credit card dues, ensure it is accurately updated in your credit report.
7. Old accounts: Keep old credit accounts active, as they contribute positively to your credit history.
8. Regular monitoring: Continuously monitor your credit score and promptly address any discrepancies.

Before applying for a personal loan online, thoroughly assess your repayment capacity and explore various options to find the best loan terms that suit your financial needs. With the right approach and planning, you can achieve your financial goals despite having a low credit score.

Suggested Read:

Factors to Remember When Applying for a Personal Loan

Factors That Impact Personal Loan Eligibility

Tips to Get a Personal Loan with a Low CIBIL Score