How to check your CIBIL score online

How to check your CIBIL score online

You can access your CIBIL score online by visiting the official website of CIBIL. On the website, you will find an application form which you will have to fill in with identifying details such as your name, date of birth, address, phone number, income, identity proof and address proof, and loans you have taken.

Once, you fill all these details and submit the form, you will be directed to the payment page where you will have the option to pay the required charge of Rs. 470 either by using your credit card, debit card or through net banking.

After the payment is made, you will be directed to the authentication page where you will have to answer 3-5 questions about your loans and credit cards to proceed further.

Once you’ve identified yourself and authentication is successful, CIBIL will send you your score through e-mail within 24 hours.

Knowing your CIBIL score before applying for a home loan will certainly reduce your risk of being rejected by bank. If you find out that your score is low, you can take steps to improve it.

How to improve your CIBIL score for a housing loan?

If you know your CIBIL score is not up to the mark for the housing loan schemes you wish to avail, don’t worry. It is possible, with a little financial discipline, to rebuild your credit record and improve your credit score to eventually become eligible for a housing loan.

Mentioned below are a few tips that you can follow to improve your CIBIL score.

Make all your payments on time and pay the entire amount due. Part-payments will still be recorded as overdue in your report and late payments are not appreciated by banks.

Don’t use your entire credit limit. Keep a check on your credit utilization and keep your outstanding balances low to get a good credit score.

Monitor your accounts (both single and joint accounts) regularly so that no payment is missed at the end of the month either by you or the joint account holder.

Keep a track of your credit score and history by accessing your credit information reports from time to time and rectifying errors, if any.

Rather than having too many unsecured loans, try to maintain a balanced combination of secured and unsecured loans. It will help you improve your credit score.