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Planning on taking a loan? Want to make sure it is approved and processed quickly? Looking for a loan at a lower interest rate? Then make sure your CIBIL score is good. At this stage you may have more questions like what is CIBIL?The CIBIL score explainedThe Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit information companies licensed by Reserve Bank of India. There are three other companies also licensed by the RBI to function as credit information companies.
They are Experian, Equifax and Highmark. However, the most popular credit score in India is the CIBIL score. Let's find out what is CIBIL score.CIBIL Limited maintains credit files on 600 million individuals and 32 million businesses. CIBIL India is part of TransUnion, an American multinational group. Hence credit scores are known in India as the CIBIL Transunion score.CIBIL Score is a 3-digit numeric summary of your credit history, rating and report, and ranges from 300 to 900. The closer your score is to 900, the better your credit rating is.
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