CIBIL Score: What is the range of CIBIL score, know the meaning of each figure before taking loan...

CIBIL score or credit score in India is calculated between 300-900. Any person must take all possible measures to bring his credit score closer to 900. The higher the CIBIL score, the greater your chances of getting a good deal on a personal loan as well as a credit card. It is easy for you to get any kind of loan. Let us understand the ranges of CIBIL scores and what they mean.

NA/NH
This means that it is either not applicable or the person does not have a history. If you have never used a credit card or taken a loan, you will have no credit history.

350 – 549
If your score is in the range of 350 – 549 then such CIBIL score is considered as a bad score. This makes it clear that you have been delayed in paying your credit card bill or loan EMI. With a CIBIL score in this limit, it will be difficult for you to get a loan or credit card as the risk of you becoming a defaulter is high.

550 – 649
If your CIBIL score is in the range of 550 – 649 then it is considered a fair CIBIL score. This shows that you are struggling to pay your dues on time. However, when you apply for a loan, you may have to take a loan at an expensive interest rate.

650 – 749
If your CIBIL score is in the range of 650 – 749, then you are on the right track. You must continue to demonstrate good credit behavior and raise your score further. For this, you should follow more financial discipline. On this score, the bank or lender will consider your credit application and may offer you a loan. However, you may still not have the negotiating power to get the best deal on the interest rate for the loan.

750 – 900
If your CIBIL score is in the range of 750 – 900 then it is considered an excellent credit score. This shows that you make regular credit payments and have an excellent payment history. Banks will also offer you loans and credit cards easily. This is because your risk of becoming a defaulter is lowest.

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