Everything You Wanted To Know About CIBIL -
1
WHAT IS CIBIL? SHAREHOLDING PATTERN Stands For Credit Information Bureau (India) Limited Simply Put, CIBIL Keeps A Track Record Of Your Credit History & Allots Every Individual A CIBIL Score This Score Is Used By Banks & Non Banking Financial Corporations To Assess Your Loan Applications 10% 27.5% 10% 5% 5% 5% 5% 5% 5% 5% 5% 5% 2.5% 5% DID YOU KNOW? You Can Check Your CIBIL Score At www.cibil.com For A Nominal Fee Of INR 470 HOW YOUR SCORE STACKS UP TIPS TO IMPROVE YOUR CIBIL SCORE 900 SUPREMO 700+ VERY GOOD 800+ OUTSTANDING 500+ POOR 600+ SCOPE OF IMPROVEMENT 500> NO HOPE TransUnion International Inc ICICI Bank Ltd State Bank of India Bank of Baroda Bank of India HSBC Central Bank of India Punjab National Bank Standard Chartered Citicorp Finance India Indian Overseas Bank Union Bank of India HDFC Sundaram Finance Ltd Public Entities Private Entities ALLOTMENT OF HOME LOANS ACCORDING TO CIBIL SCORES IN 2012 EVERYTHING YOU WANTED TO KNOW ABOUT CIBIL Less Than 750 Above 800 750 To 800 Pay your bills on time. Late payments affect your score negativity Never increase your Credit Card debt. An increased CC spend reduces your score proportionately ALLOTMENT OF ALL LOANS ACCORDING TO CIBIL SCORES IN 2012 58% 23% 10% 5% 4% Above 800 750 To 800 700 To 750 650 To 700 Less than 650 Make sure your credit basket is a uniform mix of Home Loans, Personal Loans and CC spend. Too much of only CC spend hampers your score Seek new credit only when you have paid off some old credit because paying off old credit increases your score Even if you do not use your CC regularly do not close it. Unused CCs imply that you do not need credit Make sure payments for your Joint Accounts are timely because they too affect your score DID YOU KNOW? You Can Bargain With Banks and NBFCs If You Have A Good Score. For Example, If You Have A Score of 800+ , You Can Get A Lower Interest Rate Than A Score of 750+ Sources: http://www.cibil.com http://www.wikipedia.com http://www.livemint.com
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Transcript of Everything You Wanted To Know About CIBIL -
WHAT IS CIBIL?
SHAREHOLDING PATTERN
Stands For Credit Information Bureau (India) Limited
Simply Put, CIBIL Keeps A Track Record Of Your Credit History & Allots Every Individual A CIBIL Score
This Score Is Used By Banks & Non Banking Financial Corporations To Assess Your Loan Applications
10%27.5%
10%
5%
5%5%
5%
5%
5%5% 5%
5%2.5%
5%
DID YOU KNOW?
You Can Check Your CIBIL Score At www.cibil.com For A Nominal Fee Of INR 470
HOW YOUR SCORE STACKS UP TIPS TO IMPROVE YOUR CIBIL SCORE
900S U P R E M O
700+VERY GOOD
800+ OUTSTANDING
500+POOR
600+ SCOPE OF IMPROVEMENT
500> NO HOPE
TransUnion International Inc
ICICI Bank LtdState Bank of India
Bank of Baroda Bank of India
HSBC
Central Bank of India
Punjab National Bank
Standard Chartered
Citicorp Finance India Indian Overseas Bank
Union Bank of India HDFC
Sundaram Finance Ltd
Public Entities Private Entities
ALLOTMENT OF HOME LOANS ACCORDING TO CIBIL SCORES IN 2012
EVERYTHING YOU WANTED TO KNOW ABOUT CIBIL
Less Than 750
Above 800
750 To 800
Pay your bills on time. Late payments affect your score negativity
Never increase your Credit Card debt. An increased CC spend reduces your score proportionately
ALLOTMENT OF ALL LOANS ACCORDING TO CIBIL SCORES IN 2012
58%23%
10%
5%4%
Above 800750 To 800
700 To 750
650 To 700 Less than 650
Make sure your credit basket is a uniform mix of Home Loans, Personal Loans and CC spend. Too much of only CC spend hampers your score
Seek new credit only when you have paid off some old credit because paying off old credit increases your score
Even if you do not use your CC regularly do not close it. Unused CCs imply that you do not need credit
Make sure payments for your Joint Accounts are timely because they too affect your score
DID YOU KNOW? You Can Bargain With Banks and NBFCs If You Have A Good Score. For Example, If You Have A Score of 800+ , You Can Get A Lower Interest Rate Than A Score of 750+
Sources:http://www.cibil.comhttp://www.wikipedia.comhttp://www.livemint.com
